August Future Indicators Report: Pending Sales Continued to Climb

The Massachusetts Association of REALTORS® (MAR) announced the results of its Future Indicators Report today for the month of August. This report is a combination of our previous Pending Homes Sales and the REALTOR® Confidence Indexes data into one succinct monthly document.

Pending home sales climbed to their highest levels for any August since MAR began tracking homes under agreement in 2004. According to the August Future Indicators Report, there was a 15.7 percent increase in accepted offers compared to the same month the year before. Median price of homes put under agreement also went up, increasing 2.2 percent compared to August 2013.

Here are the August 2014 Highlights:

Pending home sales:

  • Single-family pending home sales were up 15.7% compared to August 2013
  • Single-family median price up 2.2% from August 2013 (to $352,000)
  • Condo pending home sales were up 10.7% compared to August 2013
  • Condo median price up 1.4% compared to August 2013 (to  $325,000)
  •  18th straight month of single-family year-over-year increases.
  • The most homes put under agreement in August since MAR has been tracking this data.

REALTOR® Market and Price Confidence Indexes:

Confidence Index
August 2014
August 2013
% Change
 Market  61.15 69.26  -12%
 Price 70.00 73.57  -5.0%
  • The tenth straight month that the RMCI has gone down.
  • The seventh straight month that the RMCI has been over the 60-point mark.
  • The 18th straight month the RPCI was over the 70-point mark.
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition.

Click link to read the full release: August Future Indicators Report: Pending Sales Continued to Climb

June Future Indicators Report: Pending home sales up as Market Confidence Indexes go down

The Massachusetts Association of REALTORS® (MAR) announced the results of its Future Indicators Report today for the month of June. This report is a combination of our previous Pending Homes Sales and the REALTOR® Confidence Indexes data into one succinct monthly document. The June data found that pending home sales for single-family homes had its biggest June since MAR began tracking pending home sales in 2004. The REALTOR® Market and Price Confidence Indexes, however,

Here are the June 2014 Highlights:

Pending home sales:

  • Single-family pending home sales were up 19.8% compared to June 2013
  • Single-family median price up 4.0% from June 2013 (to $365,000)
  • Condo pending home sales were up 13.2% compared to June 2013
  • Condo median price up 3.1% compared to June 2013 (to  $330,000)
  •  16th straight month of single-family year-over-year increases.
  • The most homes put under agreement in June since MAR has been tracking this data.

REALTOR® Market and Price Confidence Indexes:

Confidence Index
June 2014
June 2013
% Change
 Market  63.89 76.40  -16%
 Price 74.60 75.00  -0.5%
  • The eighth straight month that the RMCI has gone down.
  • The fifth straight month that the RMCI has been over the 60-point mark.
  • The 16th straight month the RPCI was over the 70-point mark.
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition.

Click link to read the full release: June Future Indicators Report: Pending Sales Up as Price and Market Confidence Indexes Down

MAR Debuts Future Indicators Report

The Massachusetts Association of REALTORS® (MAR) announced the results of its first Future Indicators Report today for the month of May. This report is a combination of our previous Pending Homes Sales and the REALTOR® Confidence Indexes data into one succinct monthly document. Look out for the new Future Indicators Report the second Tuesday of every month.

Here are the May 2014 Highlights:

Pending home sales:

  • Single-family pending home sales were up 7.2% compared to May 2013
  • Single-family median price up 7.4% from May 2013 (to $349,000)
  • Condo pending home sales were up 3.7% compared to May 2013
  • Condo median price up 8.6% compared to May 2013 (to  $315,000)
  •  15th straight month of single-family year-over-year increases.
  • The most homes put under agreement in May since MAR has been tracking this data.

REALTOR® Market and Price Confidence Indexes:

Confidence Index
May 2014
May 2013
% Change
 Market  67.73  83.08  -19%
 Price  76.58  81.95  -7.0%
  • The seventh straight month that the RMCI has gone down.
  • The fourth straight month that the RMCI has been over the 60-point mark.
  • The 15th straight month the RPCI was over the 70-point mark.
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition.

Monthly ‘Hot Topic’ Question:
In response to the monthly “Hot Topic” question, 55 percent of REALTORS® who responded, reported that continued low inventory had increased buyer attendance at open houses.

Click link to read the full release: May Future Indicators Report: Pending Sales Up as Price and Market Confidence Index Down

What’s being said in the media: Confidence levels still high despite drop from April 2013

Here are the articles and posts that resulted in the release of our April 2014 REALTOR® Market Confidence Index. We’ll continue to update this post as more articles come in.

Wednesday, May 21, 2014

MAR: Realtor Confidence Drops In April
Banker & Tradesman

Thursday, May 22, 2014

Mass. Realtor confidence continues to decline
The Lowell Sun

Confidence levels still positive despite year-over-year drop from April 2013

The REALTOR® Price Confidence Index (RPCI) was still high in April, but did experience its first year-over-year drop after 26 months of increases. Confidence in the market continued its trend of decreases as a lack of inventory pushed the REALTOR® Market Confidence Index (RMCI) down for its sixth straight month. While we’d all love to see confidence in the market and prices increase, the good news is that both indexes are historically high compared to the past.

Here are the April 2014 Highlights:

  • The REALTOR® Market Confidence Index (RMCI) went down compared to April 2013
  • This is the sixth straight monthly year-over-year decrease
  • The REALTOR® Price Confidence Index (RPCI) went down for the first time after 26 straight months compared to the same month the year before
  • The RPCI was over the 70-point mark for the 14th straight month

Hot Topic:

The April Hot Topic question asked REALTORS® to compare their clients’ ability to access financing compared to last year.

Click link to read the full release: April 2014 REALTOR® Market Confidence Index and REALTOR® Price Confidence Index

Data points:

  • REALTOR® Market Confidence Index in April was 66.89 Down 16% from the same time last year
  • REALTOR® Market Confidence Index in April was down 4% from March 2014
  • REALTOR® Price Confidence Index in April was 77.81 Down 5% from the same time last year
  • REALTOR® Price Confidence Index in April was down 2% from March 2014

Realtors Price Confidence Index continued its upward trend in March

March didn’t do us many favors in the nice weather department, but despite the collective bad mood it put us in (or some of us anyway), REALTORS® in Massachusetts who responded to our March survey continued to feel confident about prices. At the same time, while still confident about the market was still positive (based on its Index number), REALTORS® were not feeling as good about the market compared to the same time last year.

Here are the March 2014 Highlights:

  • The REALTOR® Market Confidence Index (RMCI) went down compared to March 2013
  • This is the fifth straight monthly year-over-year decrease
  • The REALTOR® Price Confidence Index (RPCI) has been up for 26 straight months compared to the same month the year before
  • The RPCI was over the 70-point mark for the 13th straight month

Hot Topic:

The March Hot Topic question asked REALTORS® to describe client demand for accessible/single-floor living homes.

Click link to read the full release: March 2014 REALTOR® Market Confidence Index and REALTOR® Price Confidence Index

Data points:

  • REALTOR® Market Confidence Index in March was 69.50 Down 8% from the same time last year
  • REALTOR® Market Confidence Index in March was Up 11% from February 2014
  • REALTOR® Price Confidence Index in March was 79.69 Up 1% from the same time last year
  • REALTOR® Price Confidence Index in March was down 1% from February 2014