Currently searching for apartments and I am seeing that prices change daily.
How does this work, and is there any way to predict/calculate on your own when they will rise or drop?
In: Economics
Nope. If there were a way to predict it, you could make a ton of money.
Pricing real estate and rent is all about comparisons to other local, similar transactions. If the guy down the street manages to rent his room for X, and you can rent the same kind of room, more or less, then you can also price yours at X and use that comparison as negotiation leverage with your potential renters.
Sure, there are predictable macro trends, like development in the city, major employers moving in, available inventory. But that’s not terribly useful for predicting individual rises and drops with specific properties.
This is why home owners and landlords will complain about someone in the neighborhood driving down property values for things like failing to maintain the property or the landscaping. Because it does.
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