The Six Most Important Statistics You Need to Know When Selecting a Market
By Amanda Bouck
We get these comments all the time: “I don't know where to start looking,” “My market is not affordable,” "Which stats actually matter?"
Selecting a market to invest in can be stressful if you don't know what tools to use.
To begin, you need to identify a few things: your goals, your skills, your pre-qualification for financing, your time, and your ideal property type.
Your decision on the market itself should be based on data and NOT emotion.
There are many statistics out there you can look at, but we have keyed in on the 6 important stats that will impact your investing strategy:
1. Purchase Price Range
2. Days on Market
3. Passive Appreciation
4. Vacancy Rate
5. Rental Rates
6. Unemployment
Keyspire Success Coach Jason Witzell and I covered these in a LIVE Training for Income Property Labs. Watch the video below to learn why you need to know these 6 statistics and how to use this data in your income property investing.
There are many websites and organizations you can use to find these statistics, but here are two of our favorites:
(Canada) Canadian Real Estate Association (CREA)
https://www.crea.ca
“Organized real estate in Canada operates at three different levels. The real estate board generally operates at a local level. Provincial and territorial associations represent their province or territory and CREA represents the industry nationally and internationally.
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade Associations, with a membership that includes thousands of Realtors and hundreds of brokerages across Canada.
Keeping informed about all matters real estate with a watchful eye on the economy and government, plus the economic statistics and analysis we provide, enhance our members’ knowledge.”
(US) National Association of Realtors
https://www.nar.realtor
“The National Association of REALTORS® is America's largest trade association, representing 1.4 million members, including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.”
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About the Author
Amanda Bouck
Amanda Bouck started building her real estate investing business at age 21. She also worked as a professional Property Manager for many years and was managing a portfolio of almost 50 properties. The knowledge Amanda gained over the years with investing, renovations and property management, brought her to the Keyspire team in 2014, where she serves as the Sr. Manager, Coaching & Content.
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