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How is the market behind real estate?

How is the market behind real estate?

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Sobia’s Answer

Hi Aaron!!! This is such a great question.... the market behind real estate is so varied based on location and I do agree with Juney it also varies with time. Different types of real estate also varies, residential, office, retail, industrial, mixed use, hospitality, land...... the economy and inflation makes an impact on this and it can vary and no one can ever really tell when the next upswing or downturn will come.
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Juney’s Answer

While I am no expert in real estate by any stretch of the imagination, years of observation suggests that it doesn't just vary by location as Sharon suggests, but fluctuates heavily over time. Micro- and macroeconomic factors have small to large impact, and both short and long term -- bubbles bursting can have immediate, intense impact, while aspects like inflation have a more gradual, longer term influence over time.

As such, it'd be of more use to look for an approach to establishing a view of a local market at a given point in time (for which Sharon's suggestions are a great start!) and then refining that approach over time, rather than looking for a definitive one-size-fits-all answer that'll hold indefinitely!
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Sharon’s Answer

Hello Aaron! If you're interested in understanding the current state of the real estate market, it's important to note that it varies based on location. I suggest exploring real estate platforms such as Zillow or Redfin. These sites offer a wealth of information on property listings and market trends. Connecting with local real estate agents who are experts in your area of interest can also be beneficial. Additionally, keeping up-to-date with real estate news and publications, or tuning into real estate podcasts can provide further insights into the current market scenario.
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