How do you know if a particular market is in strong demand?

The following tips from RealRenta could be indicators where demand exceeds supply:

• Properties are on the market for a shorter amount of time compared to other markets
• Little change in asking price (buyers are competing for properties)
• High auction clearance rates
• Properties are advertised with ‘open inspection” rather than private appointment
• Limited available properties

Research market data and statistics for the area you are interested in. In particular, consider the following market trends:

• Demand to supply ratio (DSR)
• Vacancy rates
• Days on Market (DOM)
• Ripple effect potential
• Rental yield
• Auction clearance rates

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