The housing market refers to the buying, selling, and renting of residential properties. It includes various types of homes, such as single-family houses, apartments, and condominiums. Factors like interest rates, economic conditions, and local demand influence the housing market, affecting prices and availability. In a strong housing market, more people are looking to buy homes, which can drive prices up. Conversely, in a weak market, there may be more homes for sale than buyers, leading to lower prices. Understanding the housing market helps individuals make informed decisions about purchasing or renting a home.