Realtors Stay Confident In Summer
Despite a traditionally slower summer market and rising interest rates, Realtors in the Bay State were more confident about the housing market in June than in the same month last year, according to the Massachusetts Association of Realtors (MAR).
In June, MAR's Realtor Market Confidence Index was 76.4, up 29 percent over June 2012. It was the 22nd consecutive month of increases and the fifth month in which the index has topped 70, MAR said.
However, the index, which measures how Realtors describe the market, was down 8 percent from May's reading of 83.08.
The Realtor Price Confidence Index, which measures Realtor expectations of home prices over the next year, was up 25 percent in June, to 75. It was the 17th consecutive month of increases and the fourth that topped 70. The index was down 9 percent from May.
Measured on a 100-point scale, 50 is the midpoint between a strong and weak market.
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