Measuring the Market

[Matthew Moore]

I'm fairly new to real estate and at this point I'm just looking to educate myself and build a little capital through work. I've been reading a bit,listening to the  podcast, as well as lurking on the forums a bit. One thing I hear and read a lot is hot market, depressed market, low inventory, and buying in the right market. What metrics, tools, or websites are used to measure these? Two more little things, I am looking for more books to read anyone have suggestions for books to learn the real estate terminology a little better as well as a book on house hacking? And lastly, I am from the CT area but will be going college in California what are people's opinions on which market is better and why? Thank you in advance for all responses!