Mass. Realtors express optimism

WALTHAM, Mass. – For the fourth consecutive month, Bay State Realtors showed a rise in optimism about the real estate market.
The Massachusetts Association of Realtors said this week that its market index rose to 32.09 last month, up from 28.06 in February. Measured on a 100-point scale, the Realtors consider a score of 50 the midpoint between a “strong” and a “weak” market.
While Realtors showed increasing confidence about the market, their levels of optimism in March lagged from a year ago when the index stood at 40 and the federal homebuyers tax credit was still in play.
“Realtors who responded to the survey are feeling more and more positive each month as we head into the spring real estate market,” said association President Laurie Cadigan. “While we can feel the momentum building, we continue to keep an eye on the economy and potential changes in the secondary mortgage market and to the mortgage interest deduction coming out of Washington, D.C. that could negatively impact the market.”
Realtors in March displayed little change in their predictions about prices. In March, the association’s price index rose to 48.69 from 46.96 a month earlier. The index was down from 53.15 a year ago.