Which factor is least likely to affect the supply of real estate in a given market?

The factor that is least likely to affect the supply of real estate in a given market is global market trends. The reason for this is that the supply of real estate is primarily influenced by local conditions, such as government regulations, economic indicators, and investor interest, which directly affect the availability and development of properties within a specific area.

Global market trends, while they may have an impact on broader economic circumstances or investment strategies, tend not to directly dictate the supply within a localized real estate market. For instance, while international economic shifts could influence foreign investments, they do not change zoning laws, local planning regulations, or immediate economic conditions in the market area itself. Therefore, while global factors can play a role in the overall economic landscape, they are less directly correlated with the supply of real estate compared to the other options listed.