August Realtor Market Index up over 40% from last year: Price Index down

Today we issued the results of the August 2011 REALTOR(R) Market Index (RMI) and the REALTOR(R) Price Index (RPI). The August RMI was up over 40% from the August 2010 RMI. This is only the 2nd monthly year-over-year increase since May 2010. The August RMI was up 6.27 percent from July.  The REALTOR(R) Price Index was down from the same time last year and from July.

This month’s “Hot Topic” question asked REALTOR(R) members about short sales and the average time they took to complete.

Click here to read the full release: August 2011 Realtor(R) Market Index and Realtor(R) Price Index

Here are the highlights:

* REALTOR® Market Index in August was 28.57. Up 40.33% from the same time last year
* REALTOR® Market Index in August was up 6.27% from July
* REALTOR® Price Index in August was 39.92.  Down 4.48% from the same time last year
* REALTOR® Price Index in August was down 0.67% from July

Let us know what you think? In fact, if you are a member of the Massachusetts Association of REALTORS(R) and would like to participate in the monthly survey, please send your name, email address and NRDS# (which can be found on the cover of your copy of Bay State REALTOR(R) Magazine) to themarreport@marealtor.com