What is the Home Demand Index?
The Home Demand Index (HDI) is the nation’s only local housing market index that tracks pre-sale activity to measure housing market competitiveness. The HDI uses data on pre-sale activities, including in-person showings of homes and views of homes online, to measure housing market activity across different geographies and types of homes. The data used to construct the HDI are the most accurate and up-to-date information from the real estate agents and prospective buyers and sellers that are active in the market.
While most housing market indices are based on history, the HDI provides forward-looking insights to real estate professionals and consumers to help make better decisions in a rapidly changing real estate market
Greater Metropolitan Market Areas
The Bright MLS |T3 Home Demand Index currently covers the three greater metropolitan market areas served by Bright MLS, namely the Greater Philadelphia Area (in blue), the Greater Washington D.C. Area (in gray), and the Greater Baltimore Area (in orange).
Colors are provided for visual identification of each market area and do not correlate to index activity level. Make a selection on the map to go to the report for a market area or view an overview of each market area here..
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Washington D.C. | May 2025
Home Demand Index
The Home Demand Index (HDI) for Washington D.C. this report period stands at 96, consistent with last month’s 96 and higher than last year’s 91. This stability suggests steady buyer interest, with demand holding firm despite broader economic challenges. The year-over-year increase indicates a gradually strengthening market.
Demand for luxury single-family homes has increased the most, with the index rising to 139 from last month’s 130, signaling a significant increase in buyer interest. Mid-market single-family homes saw a smaller rise, increasing from 88 last month to 90, slightly higher than last year’s 88, indicating that affordability concerns continue to impact this segment. The moderate increase in mid-market demand suggests some improvements in market conditions, while demand remains constrained by limited inventory.
Monthly Statistics for May 2025
Home Demand
Index
Index
96
(Steady)
Home Demand Index
from prior month
from prior month
96
Home Demand Index
from prior year
from prior year
91
Index change
from prior month
from prior month
0%
Index change from
same time last year
same time last year
5.5%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | May 2025
Home Demand Index
The Home Demand Index (HDI) for Philadelphia this report period stands at 89, reflecting an increase from last month’s 87 but slightly below last year’s 90. This improvement suggests strengthening buyer interest, potentially driven by seasonal factors or economic stabilization. However, the slight year-over-year decline highlights ongoing affordability concerns.
Demand for entry-level single-family homes in Philadelphia decreased slightly to 80, down from 86 last month but similar to last year’s 79, indicating sustained interest despite affordability constraints. Mid-range single-family homes saw modest growth, with the index reaching 79, up from last month’s 76, though below last year’s 86. Luxury single-family homes experienced a notable rise to 87, matching last year’s figure, suggesting continued strong buyer interest in high-end properties.
Monthly Statistics for May 2025
Home Demand
Index
Index
89
(Slow)
Home Demand Index
from prior month
from prior month
87
Home Demand Index
from prior year
from prior year
90
Index change
from prior month
from prior month
2.3%
Index change from
same time last year
same time last year
-1.1%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | May 2025
Home Demand Index
The Home Demand Index (HDI) for Baltimore this report period stands at 93, a slight increase from last month’s 92 and higher than last year’s 91. This growth suggests strengthening buyer activity in the region, supported by ongoing demand. Market conditions continue to be shaped by affordability constraints and inventory availability.
Entry-level single-family homes in Baltimore experienced a decline in demand, shifting from slow to limited, likely driven by affordability concerns and limited inventory. Mid-market single-family homes saw a slight improvement, suggesting growing buyer interest. Luxury single-family homes maintained strong demand, reflecting interest from affluent buyers. Entry-level condos experienced stable demand, while luxury condos showed notable growth, indicating ongoing interest from high-end buyers. Townhouses and similar properties experienced steady demand, though inventory remains a constraint.
Monthly Statistics for May 2025
Home Demand
Index
Index
93
(Steady)
Home Demand Index
from prior month
from prior month
92
Home Demand Index
from prior year
from prior year
91
Index change
from prior month
from prior month
1.1%
Index change from
same time last year
same time last year
2.2%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com