June REALTOR Market Index up over last year

Today we issued the results of the June 2011 REALTOR(R) Market Index (RMI) and the REALTOR(R) Price Index (RPI). The June RMI was up 2.8 percent from the June 2010 RMI. This is the first year-over-year increase in 12 months.  On a month-to-month basis, the RMI was down from May.  The REALTOR(R) Price Index was down both year-over-year and from May.

This month’s “Hot Topic” question asked REALTOR(R) members what they thought the impact would be on the market if the proposed 20 percent downpayment requirement that is being considered as a provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act were to be enacted.

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

Here are the highlights:

* REALTOR® Market Index in June was 29.17. Up 2.8% from the same time last year
* REALTOR® Market Index in June was up 4.2% from May
* REALTOR® Price Index in June was 38.30.  Down 18.2% from the same time last year
* REALTOR® Price Index in June was down 1.5% from May

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