Five Years of Data Show Mass REALTORS Confidence in the Market on the Rise 10 31 2012

by MAR Staff | Oct 30, 2012
When the ball drops on December 31st to ring in the New Year, MAR will celebrate their own small victory, five years of data collected from the REALTOR® Market Confidence Index and the REALTOR® Price Confidence Index. These indexes provide a solid base of reference as to REALTORS’ confidence in the overall health of the market and of home prices. 
 
The REALTOR® Market Confidence Index (RMCI) and the REALTOR® Price Confidence Index (RPCI) were created to provide a missing element to the real estate market discussion taking place in the media- insights of the REALTOR®-members who were working in real estate daily helping their buyer and seller clients.
 
The charts below reflect and mimic the low of the housing market in 2008 when the market (and Wall. St.) were experiencing very tough times. It has taken a while, but the climb from the low point to now has been steady as the Confidence data below shows. REALTOR® confidence the past year has been particularly positive with both indexes being pushed to all-time highs in 2012.
 
The Market and Price Indexes were measured for two years before launching to the media on a monthly basis beginning in 2010.  With solid data behind them, the two indexes are now regularly covered in the media and are accepted as a reliable indicator of Massachusetts market conditions along with the MAR home sales and median price data released monthly. Here is the latest release with the  September 2012 results.
 
 
Starting Data Point (Jan. 2008): 19.71
Most Recent Data Point (Sep. 2012): 57.73
Historical Low Point: (Dec. 2008): 13.42
Historical High Point: (May 2012): 60.38
Percent Change from Historical Low to High Point: 349% (46.96 Index Points)
 
 
Starting Data Point (Jan. 2008): 19.71
Most Recent Data Point (Sep. 2012): 57.73
Historical Low Point: (Dec. 2008): 13.42
Historical High Point: (May 2012): 60.38
Percent Change from Historical Low to High Point: 349% (46.96 Index Points)