The Massachusetts Association of Realtors Market Index was down for the third straight month in August, posting a reading nearly 52 percent below the same month a year ago.
August’s score of 20.4 was also nearly 28 percent below July’s. The index is scored on a scale of 100 with 50 considered the midpoint between a strong and weak housing market.
The association’s price index was 41.8, down from 53.4 a year prior and 47.4 in July.
A year ago, homebuyers were scrambling to make deals to meet the federal government’s original Nov. 30 deadline for an $8,000 tax credit. “Today, the tax credit is in the rearview mirror and the market is still adjusting,” the association said.
