According to a report by MAR or the Massachusetts Association of Realtors, Massachusetts realtors are feeling optimistic about the real estate market despite an increase in foreclosure activity. Compared to last year, the RMI (Realtor Market Index) and RPI (Realtor Price Index) continue to remain up in comparison to 2011.The realtors polled reported no changes in regards to short-sales and foreclosures despite their larger-than-desirable presence in the Massachusetts housing market.
Trisha McCarthy, MAR?s President in 2012, said, ?Increased buying and selling activity this spring continued to keep confidence up in June and it should carry on through the summer. Recent news that the market has ?hit bottom? should also help keep the market moving in a positive direction.?
According to MAR, the RMI was 59.3 in June?up from 29.17 in June 2011. This is the 2nd highest level this index has hit since MAR began tracking this data and the 11th year-over-year increase straight. At 59.3 on a scale of 100 points, this is midway between weak and strong.
Hitting 60.06 in June, the RPI was up 57% in comparison with June?s RPI in 2011 which was 38.30.
MAR polled realtors in June, asking whether or not part of their business consisted of short sales and foreclosures.
Here?s how they answered:
- 17% stated short sales and foreclosures were a part of their business
- 14% stated they were somewhat less a part of their business
- 3% stated they were much less a part of their business
- 48% stated they saw no change from 2011 to 2012
- 24% stated short sales and foreclosures had become somewhat of a greater part of their business
- 3% stated they had significantly become a greater part of their business
Do you feel as optimistic in the housing market as Boston real estate agents?
Source: http://www.firstbostonrealty.com/blog/massachusetts-boston-realtors-feeling-optimistic/
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