Property Manager · Philadelphia and Drexel Hill, PA · Member since 2018 · 23 posts · 5 votes
I'm fairly new in real estate, and understand the importance of knowing my local market, and I hear a lot in the podcast about the an impending recession. Does anyone have a good free source for learning about the changing real estate market? Both nationally and perhaps locally (I'm from Philadelphia). I would very much like a good source for understanding how the market is changing around me besides the podcast. Thanks, any advice is much appreciated!
To learn more about your local market, you'd be best-served by reading the local newspapers' business or real estate section and also attending local meetups and REIA meetings to get a stronger understanding of what is happening and where it is happening.
For national market data, you can usually find decent articles on realtor.com or CNBC.com.
To learn more about your local market, you'd be best-served by reading the local newspapers' business or real estate section and also attending local meetups and REIA meetings to get a stronger understanding of what is happening and where it is happening.
For national market data, you can usually find decent articles on realtor.com or CNBC.com.
Tyler Holzer, can you make it to this event tonight? Kevin Gillen, local expert economist with Drexel University, will be speaking on the current state of the Philadelphia housing market.
There's tons of data online for Market Analysis. For example, a free source that I use to give me an idea of a market is Zillow Research.
Just visit the homepage, scroll to the bottom and click [Research]. Then, locate [Market] on the top menu and click it. This page lists the 50 Largest Metro areas as of Jan 2019. You can also Search by State and Metro area and get a more detailed overview of both Rentals and Real Estate vis PDF. It's a pretty good source imo for getting a rough idea of what a market is like. It is Zillow, so don't take the data as Gospel.
Another way to find what you're looking for is a simple Google Duckduckgo search of "Real Estate Market Research or Data" etc. There's tons of sources out there. A lot of them are free.
@Mike U., Good question. There are many ways to approach this but I prefer to rely on housing data to better understand a housing market, rather then someones opinion. There are many resources that you can refer to but one example is Redfin's housing data. https://www.redfin.com/news/da...
Scroll down the page until you see a graph and enter the city or county that you want data for. Following, housing data for that region will populate and allow you to see historical data for the past 3 years. 2020 - Present. You can see new listings, pending sales, homes sold, median sale price and much more.
This is a great resource to start off with and get you going. I hope it is helpful.