MAR Debuts Future Indicators Report

The Massachusetts Association of REALTORS® (MAR) announced the results of its first Future Indicators Report today for the month of May. This report is a combination of our previous Pending Homes Sales and the REALTOR® Confidence Indexes data into one succinct monthly document. Look out for the new Future Indicators Report the second Tuesday of every month.

Here are the May 2014 Highlights:

Pending home sales:

  • Single-family pending home sales were up 7.2% compared to May 2013
  • Single-family median price up 7.4% from May 2013 (to $349,000)
  • Condo pending home sales were up 3.7% compared to May 2013
  • Condo median price up 8.6% compared to May 2013 (to  $315,000)
  •  15th straight month of single-family year-over-year increases.
  • The most homes put under agreement in May since MAR has been tracking this data.

REALTOR® Market and Price Confidence Indexes:

Confidence Index
May 2014
May 2013
% Change
 Market  67.73  83.08  -19%
 Price  76.58  81.95  -7.0%
  • The seventh straight month that the RMCI has gone down.
  • The fourth straight month that the RMCI has been over the 60-point mark.
  • The 15th straight month the RPCI was over the 70-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.

Monthly ‘Hot Topic’ Question:
In response to the monthly “Hot Topic” question, 55 percent of REALTORS® who responded, reported that continued low inventory had increased buyer attendance at open houses.

Click link to read the full release: May Future Indicators Report: Pending Sales Up as Price and Market Confidence Index Down