If the quantity of housing supplied in a community is greater than the quantity of houses demanded,the existing price:

A) is above the market equilibrium price.
B) will rise to clear the market.
C) will either rise or remain unchanged.
D) is below the market equilibrium price.

Market Equilibrium Price

The price at which the quantity of goods buyers are willing to purchase equals the quantity sellers are willing to sell.

Quantity Demanded

The amount of a good or service that consumers are willing and able to purchase at a given price over a specified period.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price in a given time period.