For the third straight month, local Realtors’ confidence in the real estate market has declined.

The August Realtor Market Index (RMI) was down for the third straight month, compared to the same time last year, according to the Massachusetts Association of Realtors (MAR). Also, the August Realtor Price Index was down for the second month in a row and for the third time in the past 12 months.

"Similar to July, Realtor members who responded to our August housing survey continue to feel less certain about the market compared to the same time last year, when the first-time homebuyer tax credit activity was ramping up," said 2010 MAR President Kevin Sears, broker/co-owner of Sears Real Estate in Springfield. "In August 2009, the market was beginning to improve as homebuyers were moving to make sure they would qualify for the original Nov. 30, 2009 deadline for the first-time homebuyer tax credit. Today, the tax credit is in the rearview mirror and the market is still adjusting."

In August, the Realtor Market Index was 20.36, down more than half from the 42.17 score recorded in August 2009. On a month-to-month basis, the August 2010 RMI was also down from the July 2010 score of 28.15. Measured on a 100-point scale, a score of 50 is the midpoint between a "strong" (100 points) and a "weak" (0 points) market condition.

The Realtor Price Index stood at 41.79 in August, compared to 53.73 last year. On a month-to-month basis the August index number fell from July’s mark of 47.43.