The Massachusetts Association of Realtors (MAR) January Realtor Market Index (RMI) and Realtor Price Index (RPI) experienced significant declines compared to the same time last year.

In January, the RMI was 21.11, a 38 percent decrease from the 34.3 score in January 2010, according to a statement. This is the eighth straight month the year-over-year RMI has gone down.

However, the January RMI was up 8 percent from the December 2010 score of 19.54. This is the second straight month-to-month increase. 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 RPI dipped to 5.86 percent in January to 46.67, compared to the same time last year when 49.57 was reported. This is the seventh straight month the RPI has decreased. The January RPI was also down from December for its first month-to-month drop since September 2010.

"Snow continues to be the theme as everyone has had enough, but despite those conditions, Realtors who responded to the survey feel better about the market than they did the month before," said 2011 MAR President Laurie Cadigan, broker/owner of Barrett & Co. in Concord. "As we saw with closed sales in December, respondents feel prices are coming down, which will benefit the market and make homes more affordable."