Wondering how to become your market's top information expert?
Keep tabs on the following data:
1. Household composition and age trends. Family size plays a big role in types of homes that are in demand.
2. Changes in zoning or additions to local infrastructure.
3. Affordability indices. Look at area incomes in relation to median home prices.
4. Employment trends by industry sector.
5. Remodeling spending. This indicates if people are moving up or staying in place.
Be sure to check with state and local economic development agencies for more localized data.