Property Valuation
What is 'absorption rate' in Kansas real estate market analysis?
AThe rate at which a building absorbs water during floods
BThe rate at which available properties are sold or leased in a specific market during a given time period, indicating market demand✓ Correct
CThe rate at which mortgage loans are approved
DThe rate of property value appreciation
Explanation
Absorption rate measures how quickly available properties sell in a market, typically expressed as months of supply. A low absorption rate (few months of supply) indicates a seller's market; a high rate indicates a buyer's market.
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