Hey Bigger Pockets Family! New investor here :) I am currently interested in learning how to recognize which market I currently live in...
@Chasity Calhoun Arlington is still a sellers market. Especially homes under $200K.
@Joe Funari thank you for your response! How is this determined?
@Chasity Calhoun The Texas Real Estate Commission (TREC) track Months of Inventory (MOI) to determine if a particular market is a Sellers or Buyers Market. A total MOI around six months is considered a balanced housing market. The Texas A&M Real Estate Center tracks all home sales data for the entire state of Texas on behalf of TREC. It latest report published from June 2019 showed that the MOI specifically for Arlington, TX is currently at 2.1. Thus, a very strong sellers market. This data is public info on the web. Just search the Real Estate Center's web site to pull the reports for most cities in Texas that they collect the data for. Good info. Just takes time to find the right report. But best part it is free.
Yeah definitely a seller's market. There's been an influx of homes for sale in Arlington with the new STR/Airbnb bans taking place.