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. | June 2022

Home Demand Index

Home demand in the Washington Metro area softened in May as reflected by a 6.3 percent decrease in the Bright MLS | T3 Home Demand Index. Although down over the month, demand remained in the Moderate range. Demand was High one year earlier.
Demand for all types of homes in the Washington Metro area decreased in May. The largest declines were in the lower-priced condo and townhouse segments each with a 10 percent decrease over the month. Demand for homes in May was strongest for higher-priced single-family homes and for higher-priced condos each with Index in the High range. Buyer interest was Limited for lower-priced single-family homes and Moderate for other segments of the market. The months supply of inventory rose marginally for each market segment in May compared with the previous month. Inventory levels ranged from a 0.9 months supply for mid-priced single-family homes to 2.3 months supply for higher-priced condos.
Monthly Statistics for June 2022
Home Demand
Index
118
(Moderate)
Home Demand Index
from prior month
126
Home Demand Index
from prior year
149
Index change
from prior month
-6.3%
Index change from
same time last year
-20.8%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Philadelphia | June 2022

Home Demand Index

The Bright MLS | T3 Home Demand Index for Philadelphia Metro area homes decreased by 6.5 percent in May but remained in the Moderate demand category. The Index was in the High demand range one year earlier.
Demand for each type of Philadelphia Metro area home decreased in May with the largest declines in the lower-priced single-family and higher-priced condo segments. Buyer interest remained the strongest for higher-priced single-family homes and higher-priced condos, each with an Index in the High demand category. Demand for lower-priced single-family homes was Limited. The months supply of homes changed little in May compared with the previous month. The inventory of homes ranged from a 1.2 months supply for mid-priced single-family homes to a 3.5 months supply for higher-priced condos.
Monthly Statistics for June 2022
Home Demand
Index
116
(Moderate)
Home Demand Index
from prior month
124
Home Demand Index
from prior year
142
Index change
from prior month
-6.5%
Index change from
same time last year
-18.3%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore | June 2022

Home Demand Index

Demand for homes in the Baltimore Metro area eased in May according to the Bright MLS | T3 Home Demand Index. The Index decreased by 7.9 percent and remained in the Moderate demand category. One year ago, demand was in the High category.
Demand eased among all Baltimore Metro market segments, except higher-priced condos, which recorded a small gain over the month. Buyer interest in lower-priced single-family homes and lower-priced condos decreased the most. The Index was highest for higher-priced single-family homes and higher-priced condos., both of which remained in the High demand category. Buyer interest continued to be weakest for lower-priced single-family homes with Limited demand. The months supply among each type of home changed very little over the month, ranging from 0.9 months for mid-priced single-family homes and lower-priced condos to 1.9 months for higher-priced condos.
Monthly Statistics for June 2022
Home Demand
Index
117
(Moderate)
Home Demand Index
from prior month
127
Home Demand Index
from prior year
149
Index change
from prior month
-7.9%
Index change from
same time last year
-21.5%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com