April REALTOR Market Index down from March

Today we issued the results of the April 2011 REALTOR(R) Market Index (RMI) and the REALTOR(R) Price Index (RPI). After four straight month-to-month gains, the  RMI was down 5.7 percent from the March RMI.  The RPI was essentially unchanged from March while both the RMI and RPI were down again from the year before.

Also important to point out that when comparing April 2011 vs. April 2010, that April 2010 was the final month to have an accepted offer and qualify for the home buyer tax credit. As a result, both market momentum and enthusiasm were high at the time.

This month’s “Hot Topic” question asked REALTOR(R) members about the type of impact more affordable home prices were having on buyer activity.

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

Here are the highlights:

  • REALTOR® Market Index was 30.28. Down 5.7% from March
  • REALTOR® Market Index was down41.51% from same time last year
  • REALTOR® Price Index was48.64.  Down 0.1% from March
  • REALTOR® Price Index was down 12.5% from same time last year

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