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. | September 2026
Home Demand Index
The Home Demand Index (HDI) for the Washington D.C. metro area stands at 83 for this report period, down 7 points from last month’s 90 and below the 89 recorded one year ago. That leaves the market 7.8% lower on the month and 6.7% lower than a year ago, a broad-based cooling that carries a Slow demand rating heading into the fall. The pullback is consistent across most home-type and price tiers rather than concentrated in any single segment, pointing to rate-and-affordability fatigue rather than a localized shift.
Demand by home type in Washington D.C. this period ranges from a high of 104 in the entry-level condo tier to a low of 72 in the mid-range single-family tier, with most segments softening month over month. The condo tiers continue to screen strongest on the index, while single-family demand sits lower, a pattern driven by the affordability advantage condos hold at their price points. Entry single-family remains the most payment-sensitive tier at 82 (Slow), and mid-range single-family sits at 72. Luxury single-family reads 76 and the townhouse/rowhouse format 90, both easing on the month. Inventory generally sits in the two-to-seven-month range across tiers, keeping the metro balanced-to-soft rather than tight.
Monthly Statistics for September 2026
Home Demand
Index
Index
83
(Slow)
Home Demand Index
from prior month
from prior month
90
Home Demand Index
from prior year
from prior year
89
Index change
from prior month
from prior month
-7.8%
Index change from
same time last year
same time last year
-6.7%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | September 2026
Home Demand Index
The Home Demand Index (HDI) for the Philadelphia metro area stands at 77 for this report period, down 5 points from last month’s 82 and below the 79 recorded one year ago. That leaves the market 6.1% lower on the month and 2.5% lower than a year ago, a broad-based cooling that carries a Slow demand rating heading into the fall. The pullback is consistent across most home-type and price tiers rather than concentrated in any single segment, pointing to rate-and-affordability fatigue rather than a localized shift.
Demand by home type in Philadelphia this period ranges from a high of 97 in the entry-level condo tier to a low of 60 in the luxury single-family tier, with most segments softening month over month. The condo tiers continue to screen strongest on the index, while single-family demand sits lower, a pattern driven by the affordability advantage condos hold at their price points. Entry single-family remains the most payment-sensitive tier at 76 (Slow), and mid-range single-family sits at 71. Luxury single-family reads 60 and the townhouse/rowhouse format 85, both easing on the month. Inventory generally sits in the two-to-five-month range across tiers, keeping the metro balanced-to-soft rather than tight.
Monthly Statistics for September 2026
Home Demand
Index
Index
77
(Slow)
Home Demand Index
from prior month
from prior month
82
Home Demand Index
from prior year
from prior year
79
Index change
from prior month
from prior month
-6.1%
Index change from
same time last year
same time last year
-2.5%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | September 2026
Home Demand Index
The Home Demand Index (HDI) for the Baltimore metro area stands at 83 for this report period, down 6 points from last month’s 89 and below the 90 recorded one year ago. That leaves the market 6.7% lower on the month and 7.8% lower than a year ago, a broad-based cooling that carries a Slow demand rating heading into the fall. The pullback is consistent across most home-type and price tiers rather than concentrated in any single segment, pointing to rate-and-affordability fatigue rather than a localized shift.
Demand by home type in Baltimore this period ranges from a high of 117 in the luxury condo tier to a low of 67 in the entry single-family tier, with most segments softening month over month. The condo tiers continue to screen strongest on the index, while single-family demand sits lower, a pattern driven by the affordability advantage condos hold at their price points. Entry single-family remains the most payment-sensitive tier at 67 (Limited), and mid-range single-family sits at 81. Luxury single-family reads 87 and the townhouse/rowhouse format 89, both easing on the month. Inventory generally sits in the two-to-five-month range across tiers, keeping the metro balanced-to-soft rather than tight.
Monthly Statistics for September 2026
Home Demand
Index
Index
83
(Slow)
Home Demand Index
from prior month
from prior month
89
Home Demand Index
from prior year
from prior year
90
Index change
from prior month
from prior month
-6.7%
Index change from
same time last year
same time last year
-7.8%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com