They also do a good job of outlining the net absorption rates.

@Joel Owens @Derek Carroll I think you are both right about the absorption and replacement cost comments.

., job market growth, population growth, state and county policies, absorption rates, economic forecasts for the submarkets/markets, etc., etc. 

Check absorption and housing supply.

FSBO's don't know diddly about absorption rates or prime market times or off-market sales.

My general rule of thumb when I venture up to the deep north (lol) of Southern NH and the seacoast - I'll only buy in towns that have an absorption rate of less than 6 months.  

If the PM is local and you are not and they specialize in value add turn around properties then validate but they likely know the local market better and what absorption is.

Anecdotally, I don't see much absorption of those large vacant buildings in Northern Virginia near Dulles Airport, Crystal City, Alexandria, and Springfield, VA.

But I'm disappointed that there's been almost ZERO appreciation and very little absorption of distressed properties (which gives the reason for low appreciation).I'd guess a package of rentals is going to be in the class D areas, rents $400-$600).  

For example, I learned how to calculate the absorption rate, which to my understanding meters how long the current inventory would last.