One of the truths in real estate is that markets always get worse, and they always get better. What steps can you take to identify what’s ahead for your market? Part 1 of this series outlined how to use the months of inventory to recognize the early warning signs of a market downturn. What other telltale signs should you look for to determine whether a storm is brewing in your market?
- If page views are up on your website, your company's website or the MLS, chances are your market is improving. If page views are declining, sales will probably fall as well.
- Flipping comes to a grinding halt in a buyer's market.
- If your market area contains a large number of second homes or investment properties, you might experience a slow down sooner than other areas.