Realtor Sentiment Up Again
Realtors in the Bay State were more confident about the state of the housing market in July than they were a year ago, marking a full year of improving sentiment, the Massachusetts Association of Realtors said.
The group's market index was 57.63, up significantly from 28.57 a year ago. The market index measure current sentiment about the housing market. MAR takes the average of responses that range from 100 (strong) to zero (weak).
Meanwhile, the price index hit an all-time high of 65, up from 40.19 in July 2011. The price index measures the extent to which Realtors anticipate prices will rise over the next year. In the price index, five responses are possible; prices will rise zero to 5 percent (75 points), rise 5 percent or more (100 points), stay level (50 points), fall zero to 5 percent (25 points) and fall more than 5 percent (zero points).
Realtors also reported that they believe increasing rents and falling vacancy rates are driving home sales. Of those who believed those factors were driving home sales, 9 percent thought it was pushing a "significant amount" of people to buy, while 52 percent thought it was pushing "some" people to buy and 30 percent thought it was having a neutral impact. A minority of 8 percent said their areas were not experiencing higher rents or lower vacancies.
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