Mass. Realtor Index Up For September
The state's Realtors say the Massachusetts market is better than it was a year ago, although prices continue to fall.
The Massachusetts Association of Realtors' most recent market index was up in September over September 2010, marking the second straight month of year-over-year increases in market assessment. But on a month-to-month basis, the index fell. Overall, the group's monthly survey still found conditions to be more weak than strong; the September reading of 21.63 on a scale of zero to 100 indicates a market somewhere between moderate and weak.
The group's September price index fell 12.44 percent from September 2010 to 37.38, which is down 6.35 percent from August. A reading of between 25 and 50 indicates that Realtors foresee a slight drop in prices over the next year.
"Member confidence increased over the same time last year, which is a good thing," said association president Laurie Cadigan of Barrett & Company in Concord. But she added that more federal action is needed to help the market and economy improve.
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