What is the Home Demand Index?

This Home Demand Index (HDI) and accompanying economic research measures and tracks housing demand, home prices, and home buying activities by analyzing property data gathered from real estate agents, home sellers, and homebuyers involved in the viewing, showing, buying, and selling of homes.

The HDI utilizes a score that incorporates data on pre-sale activities, such as views of homes online and in-person showings of homes, across different geographies and types of homes in a local residential real estate market. Based on index scores, home buying demand activity is categorized along a five-level rating scale from Limited demand to High demand.

Most importantly, the HDI identifies demand for homes at the metropolitan and ZIP code level with the ability to make comparisons across geographic areas and market segments. This unique market analysis tool allows professionals and consumers to confidently track local market trends while also empowering better decision-making.

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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. Metro | September 2021

Home Demand Index

The August Bright MLS | T3 Home Demand Index for the Washington Metro market area was virtually unchanged over the month at 122, reading in the Moderate range of demand. The Index was 12 percent lower than one year earlier.
In August, demand was High for all types of homes except lower-priced single-family and townhouses. Consistent with the past several months, lower-priced single-family homes exhibited the weakest demand. While demand for higher-priced condos decreased significantly, the Index changed little over the month among other types of homes. Inventory levels remained tight ranging from a 1.2 months supply for mid-priced single-family homes to a 3.1 months supply for higher-priced condos. The monthly supply for each type of home rose marginally over the month.
Monthly Statistics for September 2021
Home Demand
Index
122
(Moderate)
Home Demand Index
from prior month
123
Home Demand Index
from prior year
139
Index change
from prior month
-0.8%
Index change from
same time last year
-12.2%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Philadelphia Metro | September 2021

Home Demand Index

Demand for homes in the Philadelphia Metro market area rose marginally in August according to the Bright MLS | T3 Home Demand Index. The Index, at a reading of 118, was in the Moderate range and 11 percent lower than one year earlier.
Among the types of homes tracked by the Bright MLS | T3 Home Demand Index, demand for lower-priced single-family homes was the weakest, the continuation of a months-long pattern. Buyer interest was strongest for higher-priced single-family homes. Demand for each of the six home types tracked by the Index was little changed over the month. Inventory levels remained tight ranging from a 1.3 months supply for mid-priced single-family homes to a 4.7 months supply for higher-priced condos.
Monthly Statistics for September 2021
Home Demand
Index
118
(Moderate)
Home Demand Index
from prior month
115
Home Demand Index
from prior year
133
Index change
from prior month
2.6%
Index change from
same time last year
-11.3%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore Metro | September 2021

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Baltimore Metro market area rose slightly in August to a reading of 129, reflecting a Moderate level of buyer demand. The Index was just over six percent below the level one year earlier.
In August, demand for higher-priced single-family homes and higher-priced condos was significantly stronger than any other type of home in the Baltimore Metro area. Overall, buyer demand for each type of home was little changed from the previous month. The month’s supply of inventory rose marginally for five of the six types of homes tracked by the Index. In contrast to other segments, the month’s supply in the relatively small higher-priced condo segment fell in August. The supply was lowest for mid-priced single-family homes at 1.1 months and greatest for higher-priced condos at 2.4 months.
Monthly Statistics for September 2021
Home Demand
Index
129
(Moderate)
Home Demand Index
from prior month
124
Home Demand Index
from prior year
138
Index change
from prior month
4%
Index change from
same time last year
-6.5%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com