July REALTOR Market Index down from last year

Today we issued the results of the July 2011 REALTOR(R) Market Index (RMI) and the REALTOR(R) Price Index (RPI). The July RMI was down 4.5 percent from the July 2010 RMI and down 7.8 percent from June.  The REALTOR(R) Price Index was down from the same time last year, but up 4.9 percent from June.

This month’s “Hot Topic” question asked REALTOR(R) members about the impact that less than full-priced appraisals are having on sales.

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

Here are the highlights:

* REALTOR® Market Index in July was 26.89. Down 4.5% from the same time last year
* REALTOR® Market Index in July was down 7.8% from June
* REALTOR® Price Index in July was 40.2.  Down 15.3% from the same time last year
* REALTOR® Price Index in July was up 4.9% from June

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