Realtors’ optimism about the state’s housing market dropped a staggering 32 percent in February, according to a recent report from the Massachusetts Association of Realtors (MAR).
MAR’s February Realtor Market Index (RMI) was 28.06, a significant decrease compared to the 41.67 score in February 2010. However, on a month-to-month basis, the RMI increased more than 32 percent from January – the largest month-to-month gain in the three years the data has been collected.
The February Realtor Price Index (RPI) was 46.96, an 11 percent drop from the February 2010 RPI of 52.78. The RPI rose a slight 1 percent from January.
"The market continues to be fragile, but current conditions exist to produce a solid spring season," said 2011 MAR President Laurie Cadigan, broker/owner of Barrett & Co. in Concord.
The majority of Realtors (61 percent) also report that their clients’ ability to secure financing in the current lending environment is more difficult than last year, according to a statement. One-third report lending conditions have remained the same and 6 percent said it was somewhat easier to secure financing.
