Today we released the results of our Massachusetts REALTOR(R) Market Index and Price Index for August. And both indicators were down. The Market Index was down over 50% from the same time last year, while the Price Index was down 22%. This is the 3rd and 2nd months in a row respectively that each index has been down.
Here’s a link to the August 2010 Market Index release:
We are definitely in an unique time. We still need to build up the supply of buyers after the rush for the tax credit. The economy and jobs continue to be a concern with everyone, yet at the same time interest rates are at all-time lows. We are also comparing the post-tax credit environment against the same time last year when buyers were starting to get back into the market to make sure they got their homes purchased by the original deadline at the end of November.
REALTORS(R), Do you agree or disagree with the survey from what you are seeing in your market? Let us know.