WALTHAM, Mass. – Realtor confidence in the Bay State housing market increased in January compared with the same period last year, the sixth straight month of year over year increases, according the Massachusetts Association of Realtors' Market Index.
The Market Index, which asks Realtors to gauge the strength of the market on a scale of 1 to 100, scored 31.9 in January, up from 20.1 in January of 2011.
Over 90 percent of Massachusetts Realtors surveyed for the monthly Market Index report said they expected the number of homes sold in 2012 to either stay the same or increase from 2011, the Realtors Association said.
“There was a nice jump in Realtor confidence about the January housing market compared to the same time last year,” said Realtor's Association President Trisha McCarthy, broker at Keller Williams Realty in Newburyport. “As long as we can continue to see increases each month, we have good reason to be optimistic about an eventual recovery.”
While Realtor confidence continued to rise, the Realtor's Association Price Index continued to fall in January, dropping to 46.0 from a score of 46.7 in January of 2011.