Housing Market

3 Replies

I'm new to the investing world and I was wondering if anyone knew any good sources that could tell me accurately of how the housing market is doing in my area and/or other areas. If it can tell me how it has done in the past, that would be awesome as well. I've been looking at zillow and neighborhoodscout, but if anyone else has better sources please comment below. Thanks.

Hi Sunil,

If you are looking for a broad scope of a neighborhood I think Zillow is a good source: http://www.zillow.com/home-values/. You can type in any city, zipcode, state, or even the entire country as a whole. Granted Zillow is not necessarily accurate, but for new investors and even experienced investors you can get a general idea of a neighborhood. I know a lot of people say Zillow isn’t accurate and I would agree to an extent, but as a licensed real estate agent I did comps on my house and Zillow was within $2k (about a 1% error give or take). That being said I have a pretty easy neighborhood to comp because there were recent sales and it’s not a “unique” neighborhood like Beverly Hills or Malibu. If you wanted to invest in a “unique” neighborhood I would check Zillow to get a rough idea and then contact a local real estate agent for the most accurate info. It really depends on what you are looking to do with the information. If you are looking to invest, I would definitely get a real estate agent’s help or advice because you want to make sure before you get in you are certain on the numbers. This again can be found on Zillow, just look up an area of interest and call one of the agents on the side who advertise.