Market Cycle Knowledge Houston

[Melanie Daigle]

I just finished listening to Podcast 188: Using 20+ Years of Studying Market Cycles to Buy Low & Sell High with David Gudmundsen and I am determined to be a real estate agent and investor who is  on top of how the market is doing beyond reading a monthly magazine and looking at the real estate inventory in terms of months! Does anyone have any tips, seminar suggestions, meetup groups, etc. they would recommend to get a better grasp on the market in Houston? Also, what are you doing in your respective areas to keep a better pulse on where we are in the real estate market cycle? Thank you in advance for your feedback!! 

[John Vo]

Sorry fingers keep slipping on the post button...

Anyway as I was saying, unemployment numbers are not very reliable, but I do glance at it. Number of people moving in and out of the area is a good indicator of how the local economy is doing. But since you're an agent you have the ability mine data of zip code or neighborhood to see number of sold properties and for how much they sold for. That's probably the best indicator of how the market is moving because 90% of the property sold on the market is through an agent and most agents are affiliate with HAR and the MLS which has strict rules on agent recordings their transaction. People pay a lot to get their hands on those data, you just have to mine the data to figure out the market condition. In my opinion, the monthly market condition press release that HAR does is very generalize and often more optimistic than what some local neighborhoods are experiencing so don't put too much weight in those press release.