Realtor Confidence Grew In 2012
The confidence of Massachusetts Realtors consistently increased throughout 2012, according to the Massachusetts Association of Realtors (MAR).
“Many challenges occurred that had the potential to knock one’s confidence, but the high index is a testament to our members and their clients who continued to believe in the real estate market and its ongoing recovery,” said MAR President Kimberly Allard-Moccia.
The Realtor Market Confidence Index was 57.47 in December, up 103 percent from 2011, MAR reported. It was the 17th consecutive month of year-over-year increases and the ninth month above 50. However, compared to November’s score of 57.31, the index was essentially flat. Overall for the year, the index was 54.05, up from 27.13 in 2011.
Meanwhile, Realtor Price Confidence Index hit an all-time high of 72.71 in December, and it was the first time the index topped 70. It was also a 50-percent increase over December 2011 and the 11th straight month of year-over-year growth. In November, the price index was 67.54. For the year, the index was 63.13, 45 percent higher than in 2011.
MAR also surveyed realtors about the impact a home being heated with oil or the less expensive natural gas had on their clients’ decisions. More than half said their clients would strongly prefer homes with natural gas but would consider those heated by oil. Meanwhile, 33 percent said their buyer clients are more concerned with finding the right home and are not focused on the type of heating. Of those who responded, 70 percent of Realtors said their seller clients wouldn’t make changes or give money back to buyers to convert from oil to gas, while 10 percent said their clients would consider it.
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