One metric they provide is new construction sales, which I can use to calculate % of total sales and see whether that value is trending up or down.My question is, in general is a market more or less desirable if there are a lot of new builds hitting the area? 

Asset class, price point, distress vs turn key, cash flow expectations/desires, etc.

I don't have the time to study Bitcoin nor do I have the time or desire to study any individual company thus I invest my traditional retirement savings into low cost index funds.That being said, I do feel like I can study and become educated about my local residential real estate market and it is an interesting topic to me so that is where I spend my time, effort, and excess capital.Regarding, investment vs gambling. 

However, most lenders have no desire to deal with that which is why they work with experienced and proven investors they are confident will drive the project to its finish. 

The location and access to amenities make it a super desirable area so you need to keep an eye on inventory and competition.

Even though interest rates and terms won't be as desirable as conventional, you'll have an easier time getting pre-approved.

No problem getting other applicants as very desirable but terrible time of year.

From my experience, properties in Flood Zone A aren't always dealbreakers, especially when they're in desirable locations like lakefronts.

In addition to all other posts, I would suggest you leverage the benefits of a 1031 exchange when acquiring the desired real estate.

Quote from @Scott Scialabba: Quote from @Corby Goade: Lots of things to consider here; generally speaking, the higher the ROI, they less desirable the properties are.