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13 Ways Anyone Can Keep An Eye On Local Housing Trends

13 Ways Anyone Can Keep An Eye On Local Housing Trends
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Housing trends determine what the market is leaning toward. Whether you’re a buyer or a seller, housing trends can clue you into what’s going to be most available or most in-demand among designs, amenities and neighborhoods.

Unfortunately, it’s a challenging prospect for nonspecialists to keep their finger on the pulse of such a dynamic industry. Trends tend to shift and change often, and a nonspecialist needs to find places where they can tap into those trend changes quickly. To help, 13 members of Forbes Real Estate Council look at the most common and accessible ways buyers and sellers can figure out the trends affecting the market.

1. Pay Attention To Days On Market

An important indicator is supply and demand. A simple metric for this in residential real estate is days on market. If this number is getting smaller, it indicates a potential reduction in supply as compared to the demand. When the demand outweighs supply, the prices tend to soar. Getting ahead of the trend is vital in maximizing returns. – Eric Shirley, Four Oaks Capital

2. Look At Transportation Extensions

A great way to keep an eye on local housing trends is by paying attention to the extension of transportation options such as railways. Railways make it easier for neighborhoods to be interconnected, allowing commuters to expand areas of choice when looking to buy and sell property. – Ivan Estrada, Ivan Estrada Properties

3. Check For Retail Store Developments

Look for retail store developments in the neighborhood. Large national companies conduct a lot of research to determine where to invest and open new store locations. They tend to be ahead of residential real estate market trends, so it’s a good predictor of where the next hot neighborhoods would be. – Ron Costa, The Eighty Two Group

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4. Stay In Touch With A Successful Realtor

Staying in touch with a very successful realtor in your area is key. They are in the market every day and can interpret statistics and trends better than anyone. They also have more current up-to-the-minute information and can often accurately predict what is happening in the housing market at that moment. They are in the trenches, so to speak. – Melinda Estridge, Estridge Group

5. Check Out Inventory Levels On MLS

The most important thing to pay attention to is the inventory level of houses for sale on the multiple listing service (MLS). Currently, the number of listings on the MLS is the lowest ever in recorded history. There are simply not enough houses for sale. This is mainly due to sellers removing their listings because of Covid. It’s a great time to be a seller and a difficult time to be a buyer. – Lex Levinrad, The Distressed Real Estate Institute

6. Get Notifications From Local Providers

Subscribe and get notifications from your local real estate service providers, independent ones preferred. Some advanced technologies allow smart recommendations from your selections, enabling you to get house price valuation information and predictions. – Ken Yim, CM Square Holdings Limited


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7. Connect With The Economic Development Department

Look up online your local city and state Economic Development Department for the latest updates on businesses, schools, residential growth, workforce and to keep up on the community. Also, connect with them on social media platforms to stay informed on a daily basis. – Pamela J. Goodwin, Goodwin Commercial

8. Leverage Alerts And Websites

I rely on a combination of Google Alerts, Bisnow and the Business Journal to keep a pulse on what’s happening in the markets I invest in. It’s important to not only be aware of what is happening with local housing, but also to stay abreast of events in the local economy. – Todd Sulzinger, Blue Elm Investments

9. Use A Real Estate App

Use your favorite real estate app and set up a “saved search” with predefined filters for the housing category you’re most interested in. Most apps, such as Zillow, will send you either in-app notifications or emails when a new home hits the market or sells. By consistently monitoring new inventory and sold inventory for several weeks or months, you’ll get a great pulse on the market. – Fred McGill, SimpleShowing

10. Leverage Social Media

Social media is carrying more weight than ever before, and agents are using it to their advantage. Following popular real estate and home improvement hashtags is a great way to stay on top of the industry trends. If you’re a visual person, Pinterest and Instagram have become new resources that professionals are using to present information in a new format to reach a broader audience. – Jennifer Anderson, Anderson Coastal Group

11. Find A Local Blog

Find a reliable local real estate blog and keep a close eye on it. Real estate blogs are an excellent way to stay up to date with current trends as they highlight various types of information and data in an easy-to-comprehend manner. Make sure to read your local real estate blog at least once a week. – Taylor Valore, Mashvisor

12. Get Alerts From A Brokerage

The best strategy is to get listing alerts from a local brokerage. If you’re watching the market regularly, you’ll have a better sense of supply and demand and be able to track price surges. Even if you’re not actively looking to buy or sell, it’s important for homeowners to be aware of the local market. It’s a good way to protect your investment. – Kevin Markarian, Marker Real Estate

13. Check Out Auction Sites

Auction sites can be a great resource for the average buyer to keep an eye on what is available in the market. Oftentimes, auction sites are overlooked in the process. While it might not be right for everyone based on preferences, good bargains can be found. – Miriam Moore, ServiceLink

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