Viewed another house last night – two infact had a good chat with the EA she was very positive and says they are having a great selling season so far – she said 2008 was the worst year as sellers weren’t realistic now they are ! Still haven’t seen the right house for me – didn’t sit out the bubble to blow no by over paying – not expecting house to jump in price – well at least jump up
I looked at the househunter website last night (Thurs) and did a search for ‘Waterford’ in the ‘last week’. The returned data was all wrong - c 198 changes, the vast majority of which increased in price. Normally I’d see 20-30 properties of which 90%+ would have price drops. On closer inspection the price in the ‘current price’ and ‘previous price’ columns had been swapped.
Can I propose that there was a data loading error last week, which was followed by a correction this week (early) which has amalgamated 2 weeks of price drops into one - perhaps the cause of the spike?
It would seem something has gone askew with the data alright. The total number of Daft.ie price drops is down to 420 this week, although it is interesting to note that the same period last year also saw a similar temporary downward spike.
Suggestion. A graph of the ratio of price increases : decreases might give a good indication of changes in market sentiment (?).
Yeah, i think you are right but not an error exactly. I usually run the program on a Friday night and last week it was a Saturday night so last week’s number includes 2 Saturdays. It would appear that Saturday is a popular day for EAs to change asking prices.
The first problem you mention on the current and previous prices being reversed was a problem for a few days but has been fixed.
I’ve often thought about incorporating the positive price changes but the main reason i haven’t done is that the number of positive changes can be quite low and therefore a ratio with the negative changes would be very volatile week to week. The other issue is to think about why EAs changes prices upwards. My thinking was/is that typically they would be happier to have a bidding war behind closed doors so little incentive to push the public asking price upward. The final consideration is that a number of the positive changes are probably the rectification of an error.