How to determine if a market is Healthy?

[Matthieu Allirot]

Hello all,

I have a relatively broad question. How does one determine if a market is healthy? I've been looking for books and forum posts on the topic and am not quite satiated yet.

From what I've read so far here are a few factors (all within a local market):

-Stable or rising prices equate to a healthier market

-Limited foreclosures (I don't have a figure but below national average is preferable. National Average Foreclosure 2016: 0.75% of all housing units were in foreclosure.)

-Inventory - How many unit are available or soon to be available in your market and how does it compare to the rate of units sold.

-Employment/Unemployment 

-Population growth

I'm sure I am missing many factors but would love to hear thoughts from the community. This could be an interesting podcast topic as well. Josh and Brandon?