4 ms·
This is not "days on market" in aggregate though. This is the percentage of the current listings, which are older than a month. Imagine a very hot market, where
by pandaman 2y ago
This is not "days on market" in aggregate though. This is the percentage of the current listings, which are older than a month. Imagine a very hot market, where almost anything gets snatched the same day. Any listings in such a market that will remain for longer than a day are some overpriced hovels, which nobody wants to buy for any price. So the percentage of the listings that had been "sitting for longer than a month" can be anything in there, depending on how many people wanted to put up their hovel at ridiculous price and the "days on market" can be under 2 days.
- kthejoker2 2y agoYes this. Everyone who has no intention of selling their home (in a Georgist manner) could list their house for 5x the going market rate (youd probably sell if and then this metric would be effectively 100% and yet many houses would still sell. This number is therefore mostly a reflection of a strong selling market since it's encouraging people to list who otherwise might not bother.
- tqi 2y ago> This is not "days on market" in aggregate though. Exactly - if days on market had told a compelling story they would have led with that. This is content marketing first and foremost, not a scientific study. The process of writing one of these starts with choosing a narrative that will get attention, and metrics are chosen to fit that narrative.