What does tertiary mean in real estate?
What is a Tertiary Market in Real Estate? A tertiary real estate market – sometimes known as an emerging real estate market – generally has a population of less than one million people. Living costs are typically less expensive than in primary and secondary markets.
What is a secondary and tertiary market?
Generally, it’s volume of sales, transaction volume amount, and population, among other things. A primary market has 5 million or more people. A secondary market has 2 million to 5 million people. And a tertiary market is under 2 million people.
What does the secondary market do in real estate?
The secondary mortgage market is a marketplace where investors buy and sell mortgages packaged into bundles with many individual loans. Lenders originate loans then place them for sale on the secondary market. Investors who purchase those loans receive the right to collect the money owed.