Why ‘Days on Market’ may be meaningless
One of the metrics used by homebuyers may be meaningless due to the tactics used by some realtors. Writing in the Huffington Post, online realtor Nathan Dautovich says that some agents ‘reset’ the Days on Market figure by de-listing and then re-listing a property that doesn’t sell quickly, making it appear that it has only been for sale for a short time. While this may be misleading for individual buyers, it also skews market data. Dautovich argues that if the data is based on false figures it could be disastrous for the industry. He suggests that regulators should ensure that the information is not manipulated and in the meantime buyers should be thorough in their research of a property’s history.