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.
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.
Some MLS's charged real estate agents to alter the statistics,[citation needed] and referred to the practice as "refreshing a listing."
Rumors of possible lawsuits circulated in the industry because homes that had been on the market for long periods of time were considered to be overpriced and thus not worth their advertised sales prices.
MLS information like days on the market, the selling price and who were the buying agents or buyers is not available in Canada to any-one but REALTORSr.