Humber/Ontario Real Estate Course 3 Exam Practice

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Which statement about demographic research is incorrect?

Downsizing in a neighborhood is rarely due to demographic changes
New home developments can indicate the right time to sell
Demographic research helps understand community trends
Aging seniors downsize to lower housing costs
Tracking demographics can guide market strategy
Younger families moving in can impact property values

The correct answer is: Downsizing in a neighborhood is rarely due to demographic changes

Demographic research involves studying the characteristics of a population, including changes in age, race, income, and other factors. Tracking these changes can help individuals and businesses make informed decisions about housing, investments, and marketing strategies. While downsizing in a neighborhood can be a result of various factors, such as economic downturn or changes in family size, demographic changes can also play a significant role. Therefore, statement A, which suggests that demographic changes rarely contribute to downsizing in a neighborhood,is incorrect. Options B, C, D, E, and F are all correct statements about how demographic research can be useful in various situations.