Housing Indexes Show Instability
The real estate market improved at the end of 2010 but it is weaker than it was in 2009, new data from the Massachusetts Association of Realtors shows.
The Realtor Market Index dropped 43 percent to 19.54 in December compared to the same month in 2009. The index is up from a score of 18.56 in November, however.
The Realtor Price Index was down 7 percent to 47.7 in December compared to 2009, but was up from 44.7 in November.
Meanwhile, Re/Max of New England released its 2011 housing market and outlook report, which recapped 2010 and provided some predictions for 2011. The company predicts that foreclosures will worsen in 2011 compared to the last couple of years.
Also, Re/Max said that home sales dropped in 2010 compared to 2009 across all of New England. Single-family home sales were down 5 percent while condominium sales were down 3 percent. Multi-family homes sales were down 9.7 percent.
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