The Massachusetts Association of Realtors reported yesterday that the September Realtor Market Confidence Index (RMCI) and the September Realtor Price Confidence Index (RPCI) were both up again compared with the same month in 2012.

"On a year-over-year basis, we continue to see good gains in positive sentiment in terms of both sales and prices," 2013 MAR President Kimberly Allard-Moccia, broker-owner of Century21 Professionals in Braintree, said in a statement. "However, confidence dipped in part from higher levels in August due to concerns about flood insurance, the threat of the government shutdown and continued talk of the debt ceiling."

The RMCI was 62.91 in September, which was up nine percent compared with the September 2012 score of 57.73. This is the 26th straight month of year-over-year increases and the ninth straight month over the 60-point mark. On a month-to-month basis, the September RMCI was down 10 percent from the 69.26 score in August 2013.

The RPCI was 70.27 in September, up nine percent from the September 2012 RPCI of 64.41. This is the 20th straight month of year-over-year increases and the seventh straight month over the 70-point mark. On a month-to-month basis, the RPCI was down five percent from the August 2013 RPCI of 73.57.

Buyer and seller clients have varying levels of concern about changes to the National Flood Insurance Program that started on Oct. 1, according to results of MAR’s monthly "Hot Topic" question. Eighteen percent of respondents rated their buyer and seller clients as "not concerned," while 31 percent rated their buyer and seller clients as "very concerned." Thirty-one percent rated the concern a "2," on a scale of 1-4 with 1 equaling "not concerned" and 4 equaling "very concerned," while 21 percent rated the concern of their buyer and seller clients as a "3." The average score of all respondents was a 2.64.

MAR: Realtor Confidence Climbs In September

by Banker & Tradesman time to read: 1 min
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