Days on market (DOM, alternatively active days on market, market time, or time on market) is a measurement of the age of a real estate listing. The statistic is defined as the total number of days the listing is on the active market before either an offer is accepted or the agreement between real estate broker and seller ends. Generally, properties with a large DOM value will command lower prices than properties with few DOM because a perception exists that the property may be overpriced or less desirable. DOM often factors into developing a pricing strategy. DOM can also be used as a "thermometer" to gauge the temperature of a housing market. The other use for this statistic is allowing prospective home sellers an idea of how long it may take to sell a property. The MLS is controlled by the real estate industry and has been the subject of many lawsuits. This value is not necessarily how long the house has been on the market due to intricacies within the multiple listing service (MLS) database. Depending on the rules of the MLS that is being used, the number is reset if a seller switches real estate agents. Sometimes there is also the arguably unethical practice of "withdrawing" the listing before it expires and adding the listing again to reset the DOM. As a result, when this statistic is used it is often lower than the true value. However, savvy real estate agents (if the MLS allows) will research the property's listing history and can tell more effectively how long the property has been on the market. DOMM Days on the Market- MLS (DOM-M or DOMM) is the number of days this exact Multiple Listing Service (MLS) listing has been on the market. DOMP Days on the Market- Property (DOM-P or DOMP) is the number of days the property has been for sale regardless of the number of different Realtors. Housing bubble Prior to the historic housing bubble that formed in or around 2001 due to loose credit and irrational exuberance, the term DOMP was practically a mystery to anyone other than real estate industry insiders. When the Housing Bubble began to rapidly deflate in late 2005, the inventory of homes for sale exploded, which caused both sales and prices to fall well below levels predicted by leading economists. These economists were frequently separated into varying levels of respect depending