Identifying emerging markets

[Shane Humes]

I am a new investor, meaning I am in the education phase and have never purchased any rentals.  I read constantly about real estate, both on the Bigger Pockets forums and books.

Everywhere I read that in order to intelligently invest in real estate, you must know the market in which you are investing.  What are the best resources to research specific markets?  What are the best tools to determine emerging and declining markets?

How do investors learn that new companies are investing in certain markets, and conversely, when companies are pulling out of a given market?

Thanks for any responses.

Shane