Areas with a rising trend that aren't already competitive are good investment properties. During lockdowns, the US saw a reshuffling of its population as people fled from overcrowded metropolitan areas to the suburbs. The era of working from home meant you could keep your job and live anywhere in the country, including places with lower costs of living.
Metro areas that are seeing the biggest drops in competition may not make for favorable investment locations because the trend signals a depreciating market, Marr said. On the flip side, rising competition is generally a good predictor that an area is becoming more desirable and you'll see better home-price appreciation over time, he added.
A good way to look at the data is by considering both the overall score and the changing score. Marr says investors should pay more attention to the difference in the compete score, and specifically, areas that are facing steep increases versus declines.
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