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March 20, 2014

Realtor price confidence high, market confidence up

While Realtor market confidence in the Bay State remained below 2013 levels in February, it improved on a month-to-month basis, and price confidence remained high, according to the Massachusetts Association of Realtors (MAR).

In February, the MAR Realtor Market Confidence Index (RMCI) registered a 62.79, up from 59.8 in January, but down 13 percent from the February 2013 score of 71.82. Meanwhile, the Realtor Price Confidence Index (RPCI) was 80.81 in February, up 16 percent from February 2013 and 5 percent from January. It was the 12th straight month the RPCI exceeded the 70-point mark.

The RMCI and RPCI are measured on a 100-point scale, with a score of 50 as the midpoint between “strong” and “weak” market conditions.

”With strong buyer demand and low inventory, Realtors continued to feel confident about home prices in February,” said MAR President Peter Ruffini. “While confidence in the market was down compared to last year, it is moving in a positive direction on a month-to-month basis.”

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