WALTHAM, Mass. – Thanks in part to unseasonably warm winter weather, Realtor confidence in the Bay State housing market increased compared with a year ago for the fifth straight month as measured by the Massachusetts Association of Realtors’ Market Index.
Still, the outlook for housing among real estate professionals remains low, with the Market Index coming in at 28.28 for December 2011, up from 19.54 in December 2010. The Market Index is derived from monthly surveys of Realtors on a scale of one to 100.
The recent rise in Realtor confidence capped what was otherwise a disappointing year in the housing markets as the Market Index finished 2011 with an average score of 43.66, down from a 47.94 aggregate score for 2010.
“While there was some market uncertainty in the year, it was good to see 2011 close with our members’ confidence going up for the fifth straight month,” said Massachusetts Association of Realtors President Trisha McCarthy, broker at Keller Williams Realty in Newburyport. “These indexes are a reflection of what Realtors are seeing and hearing from their clients on a day-to-day basis and their confidence level is moving in the right direction.”
Of the Realtors surveyed, 51 percent said warm weather in November and December played a positive role in boosting ht market.