Real estate is often unpredictable. The market ebbs and flows, and it can be difficult to stay on top of everything. However, as a real estate professional or prospective investor, it’s crucial to know your local real estate trends before making any moves.
While it remains an inexact science, there are a number of clues that can help you determine whether a local market is on the verge of heating up. To find out more, members of Forbes Real Estate Council share some factors they look for. Here’s what they said:
12. Population Inflow
Whenever there is net migration into a particular market, that market will generally experience growth. This is because all of these new people need places to sleep, work, shop, eat, etc., which increases the demand for housing and commercial real estate. When supply is constrained, new supply is created, hence encouraging the market cycle to keep moving. – Adam Finkel, Tower Capital