High Vacancy & Rising Construction

[Cole Baker]

Hello Bigger Pocket Community, 

I am going through the process of choosing a market. One thing I have run into is a major market that has rising 5-year vacancy rates, and rising YoY permitted units. 

Why is it a bad sign that vacancies are increasing consistently over the last 5-years and construction permits are increasing YoY? 

Does this mean the market is too saturated? And should I stay away from the market? 

Are there other factors that I should consider that would encourage me to pursue this specific market? 

Thank you all in advance for the help!