Today we issued the results of our October 2010 REALTOR(R) Market Index (RMI) and REALTOR(R) Price Index (RPI). While both indexes were down compared to the year before, they were both up over September. We feel this is important because the indexes are taking into account what Realtors who responded to the survey are feeling right now about the market. And while the gains were modest they are moving up. In addition, we are comparing this post-tax credit market against last year when at this time the deadline for the original tax credit was quickly approaching and activity was rapidly increasing. I know I’ve said it before, but it is worth repeating.
Here are the highlights:
- REALTOR® Market Index was 20.75. Down 39.31% from same time last year
- REALTOR® Market Index was up 7% from September (the first month-to-month increase since April)
- REALTOR® Price Index was 43.03. Down 9.78% from same time last year
- REALTOR® Price Index was up 0.79% from September
The “Hot Topic” question had to do with Realtors’ experience with short sales. What has been your experience? Please let us know.