Winter Weather Weakens Housing Market
A weak market combined with record-breaking snow totals meant January was a tough month for real estate agents in Massachusetts.
The Massachusetts Association of Realtors' monthly market index was down 38 percent to 21.11 in January when compared to the same month in 2010. However, the index was up 8 percent from December.
The MAR's price index was down nearly 6 percent to 46.67 year-over-year. This is the seventh consecutive month that the price index has gone down.
Troublesome winter weather is expected to have a short-term impact, according to the survey. Fifty-five percent of respondents said the multiple major snow storms in January would have a negative or significantly negative impact on their business.
Both the market and price indexes are measured on a 100-point scale. A score of 50 is considered neutral.
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