Please read the linked article about the housing market in the DFW area.

What examples of the determinants of demand and supply can you find in this article? How would you describe what is happening in the housing market using the demand and supply curves?

here is the link to the article: https://www.dallasnews.com/business/real-estate/2021/05/10orth-texas-home-sales-and-prices-revved-higher-in-april/

+ 2 0 [ Page view A Read aloud T) Add text | V Draw Highlight 6/4/2021 North Texas home sales and prices revved higher in April MORE FROM HOMEPAGE Donald Trump to headline Sign-on bonuses and Why is it so difficult to high-dollar fundraiser in scholarships: Dallas build affordable housing Dallas for Make America restaurants try to attract in Dallas? Great Again Action PAC workers amid industry- wide shortage THIS IS MEMBER-EXCLUSIVE CONTENT O BUSINESS > REAL ESTATE North Texas home sales and prices revved higher in April Home sales jumped 28% from a year ago as prices set a new record. EE Allie Beth Allman 214.521.7355 ORA HUDSON CLARK 214-797-6935 SOLD Real estate agents have sold more than 33,000 North Texas homes in the first four months of 2021. (Steve Brown ) https://www.dallasnews.com/business/real-estate/2021/05/10orth-texas-home-sales-and-prices-revved-higher-in-april/ 6/4/2021 North Texas home sales and prices revved higher in April By Steve Brown 6:00 AM on May 10, 2021 Listen to this article nowRearestate agents have sold more man's Brown ) 1/7 https://www.dallasnews.com/business/real-estate/2021/05/10orth-texas-home-sales-and-prices-revved-higher-in-april/ 6/4/2021 North Texas home sales and prices revved higher in April f y ) By Steve Brown 6:00 AM on May 10, 2021 D Listen to this article now 05:16 Powered by Trinity Audio North Texas' runaway housing market headed into the spring buying season with unheard-of increases in sales and prices. Real estate agents sold 10,152 single-family homes in April - 28% more than a year earlier. Condominium sales more than doubled. And the median single-family sales price set a record at $325,000, 18% higher than in April 2020, according to the latest data from the Texas Real Estate Research Center and North Texas Real Estate Information Systems. ADVERTISING Learn More a food vendor, The surge in local housing activity shows no sign of abatement, fueled by low mortgage rates and thousands of people moving to the Dallas-Fort Worth area. "I'm running out of adjectives to describe the market - astonishing, astounding, mind-boggling, but in reality, the best way to describe it is 'insane,' " said Paige Shipp, a Dallas-based housing analyst with CDCG Asset Management. "A year- over-year increase of 28% is unprecedented for D-FW and frankly, unsustainable. https:/www.dallasnews.com wved-higher-in-april 27 6/4/2021 North Texas home sales and prices revved higher in April