how do you understand your area's real estate market?

Question

I'm trying to learn about my area's real estate market, which areas are good and rising in value, the trajectory of the market, approximately where it is in the real estate cycle, good places to look for deals, etc. What approaches do you take to get yourself that kind of knowledge? thanks

Andrew Fredrickson · Answer

Hi @Alan Guo !

To get an initial feel for a market I recommend looking at:

• Population growth
• Average Income growth
• Property value growth
• Ratio of property owners to renters
• Demographics
• Large economic drivers (Hospitals, Army bases, Universities, other large employers)
• Street view on Google maps

You can find all of this information with a Google search.

You can also call local property managers and agents to get a better feel.

Best of luck!

-Andrew

how do you understand your area's real estate market?

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