Realtors maintained their confidence in the overall real estate market in December and throughout 2012, according to the Massachusetts Association of Realtors’ most recent Realtor Market Confidence Index (RMCI).
In December 2012, the Realtor Market Confidence Index was 57.47, up 103 percent from the December 2011 score of 28.28. This is the 17th straight month of year-over-year increases and the ninth straight month over the 50-point mark. 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 Confidence Index (RPCI) also hit its all-time high in December at 72.71. This is the first time the RPCI went over the 70-point mark. The December index was up 50 percent from the December 2011 RPCI of 48.51. This is the 11th straight month of year-over-year increases and the eighth straight month the RPCI has been over the 60-point mark.
"Many challenges occurred that had the potential to knock one’s confidence, but the high index is a testament to our members and their clients who continued to believe in the real estate market and its ongoing recovery," 2013 MAR President Kimberly Allard-Moccia, broker-owner of Century21 Professionals in Braintree, said in a statement.
Realtor-members were also asked what impact the price difference between heating a home with heating oil (more expensive) versus natural gas (less expensive) had on their buyer and seller clients’ decisions when it came to buying and selling a home.
Over half – 53 percent – responded "My buyer clients would strongly prefer buying a home with natural gas, but would consider buying a home with oil heat." Thirty-three percent of respondents reported that "My buyer clients are only concerned about finding the right home and not focused on the type of heating fuel used."
When asked specifically about their seller clients, 70 percent of respondents answered, "My seller clients would not make any changes or provide money back to the buyer to convert from oil to natural gas."
