Realtors around the Bay State continue to feel pessimistic about the housing market, according to a recent report.

The Massachusetts Association of Realtors (MAR) found the April Realtor Market Index (RMI) fell to 30.28 from the 51.76 score in April 2010. This is the 11th straight month that the year-over-year RMI has gone down.

The index was also down 5.7 percent from March, marking the first month-to-month decrease since November 2010.

The Realtor Price Index (RPI) was essentially flat from March as prices continue to be more affordable. In April, the RPI was 48.64, which is essentially flat from the March 2011 RPI of 48.69 (down less than two tenths of a percent). On an annual basis, the RPI was down 12.5 percent from the April 2010 RPI of 55.59. This is the 10th straight monthly year-over-year decrease.

"Realtors have been reporting that activity across the state has been up, but the lack of offers being made has nudged the confidence down a bit of those who filled out the monthly survey," said 2011 MAR President Laurie Cadigan, broker/owner of Barrett & Co. in Concord. "Questions about the economy still linger and while affordability continues to be good, buyer uncertainty remains prevalent."

The association pointed out the year-over-year numbers can be skewed because April 2010 was the last month buyers were able to take advantage of the homebuyer tax credit.

[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.]

 

Spring Selling Season Does Little To Perk Up Mass. Realtors

by Banker & Tradesman time to read: 1 min
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