Parcl Labs tracks seller urgency through its proprietary
Motivated Seller Index (MSI) , a daily-updated score from 0 to 10 that considers four key factors: days on market, number of price cuts, velocity of cuts (days between cuts), and size of cuts.
ETA: days on the market may not be a good measure of how motivated a seller is. On one hand, longer time on the market should lead a seller to be motivated to sell. On the other hand, a long time on the market may indicate that the seller is not very motivated.
In aggregate, price reductions are probably the best measure. Individually, it is probably a sign of a crappy agent who didn’t know how to price the house. But if everyone is doing it it means the market is turning fast and sellers are desperate enough to change their expectations.
This is really interesting. Without looking, I think it would also match closely with ‘where people moved during Covid WFH’. Lots of rural western counties, then the big booms of texas, florida (plus golf coast generally), and Appalachia mtn region. Also the northern michigan and upper new england/maine areas. Basically everywhere with natural beauty people are moving away from.