Realtors' Confidence In Housing Market Wanes
Massachusetts real estate agents continue to be pessimistic about the lagging housing market.
The Realtor Market Index, published by the Massachusetts Association of Realtors each month, dropped to a score of 28 in May compared to April when it sat at 30. It was the second straight month-over-month decrease. The index is based on a 100-point scale with 50 being neutral and 0 being weak.
Meanwhile, the Realtor Price Index dropped 20 percent to 38.89 in May compared to an April score of 48.64. That index is up slightly (1.3 percent) from the May 2010 index of 38.38.
"We continue to see buyers in the market who are looking, but holding off on making serious offers," said Laurie Cadigan, president of the MAR and a broker/owner of Barrett & Co. based in Concord, in a press release.
MAR also asked real estate agents about their expectations for interest rate movement in the coming year. Two-thirds of respondents said they expect interest rates to rise, while another third saying they don't expect major changes.
WBJ Web Partners
Most Recent
0 Comments