The market is always fluctuating in some way, but in order to be successful, you must be able to separate signals from noise when trying to understand developing trends. Doing this, however, can be a challenge—you need to know what to look for, as well as what sources you can trust, when you're doing your research.
In order to help shine some light on what you need to know, members of the Forbes Real Estate Council, below, discuss some ways they recommend staying on top of market trends and fluctuations, as well as discuss why those approaches can help. Here's what they said:
1. Focus On Your Specific Market
2. Find Experts And Bearish Cynics
3. Watch The High-End
4. Listen To Your 'Boots On The Ground'
5. Educate Yourself About The Economy
As investors and advisors, we need to understand the overall economy to determine what is actually a "signal" or indicator of where the market is headed versus what is just an anomaly or noise and inaccurate analysis. By continuously educating ourselves and looking beyond just the numbers and stats, we are able to add value for both our own portfolio and our clients' requirements. - Catherine Kuo, Elite Homes | Christie's International Real Estate