For example, projected local appreciation rates, future home supply versus home buyer/ renter demand projections, migration trends, etc.

Real estate taxes don’t reassess on the sale, insurance is low and we continue to have increased in migration, jobs (no state income tax) and our own land constraint issues which prevent the market from getting overbuilt.

And there is still a lot of migration within the US, so I think you might continue to see some states grow and other states stay static, which is what we saw in the 2020 census. 

Also, Stockton might be a better fit because home prices are much lower there but it's growing just like Sacramento.Here's a couple articles to get you started in the right direction and learn more about the neighborhoods of the two cities:https://www.biggerpockets.com/forums/627/topics/424510-how-to-invest-in-stockton-ca---a-detailed-overviewhttps://www.biggerpockets.com/forums/621/topics/396725-millennial-migration-to-sacramento-2017---here-comes-the-rushhttps://www.biggerpockets.com/forums/621/topics/444774-sacramento-neighborhood-map-and-ratings----finallyStart there and see what you come up with.

Too many people migrating to the city. 

According to Uhaul's 2021 migration trends, the following were the most moved to cities in the United States (migration indicates demand...) :2021 U-HAUL TOP 25 U.S.

To choose a region, watch for migration trends of working people. 

I migrated to US 10 years before and landed in SFO on Christmas 2003.I am full time software developer and do real estate on the side.

Numbers including new units per year, absorption, net migration flows, vacancy rates, and rents.

Migrating to fill-time investing is ideal as my interest in RE continues to grow more every year!