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That gap in market knowledge came from the way TREB had been calculating Days on Market for home sales. For years, TREB heard from its members that the market statistics it kept were missing some crucial information.
In November, 2018, Mr. Mercer acknowledged to The Globe and Mail that TREB had never studied the difference between accumulated days a property spent on the market and listing days on market. Now that the research shows there was some meaningful gaps in the data, the PDOM stat will make its way into future TREB monthly market reports, perhaps as soon as the April edition.
Broker and blogger David Fleming with Bosley-Toronto Realty Group Inc., has argued there are legitimate reasons to use the LDOM stat, particularly if a new agent or broker takes on a listing it’s hardly fair the PDOM from a previous agent should be calculated against the new team. But over all, he welcomes more data for consumers.
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