The following is from the Massachusetts Assoc. of Realtors web site:
“Whether it was the heat of July, the end of the tax credit, or the continued uncertainty in the economy, REALTOR® members are feeling less certain about the market than they did last year or just this past spring,” said 2010 MAR President Kevin Sears, broker/co-owner of Sears Real Estate in Springfield. “If prices do go down as the REALTOR® Price Index would lead us to believe, then the combination of historically low interest rates should be the type of incentive that will bring buyers back into the market.”
In July 2010, the REALTOR® Market Index was 28.15, which was 25.72 percent lower than the 37.89 score recorded in July 2009. On a month-to-month basis, the July 2010 RMI was down less than one percent from the June 2010 score of 28.36. 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.