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. | June 2026
Home Demand Index
The Home Demand Index (HDI) for the Washington DC metro area stands at 81 for this report period, down from 102 last month and below the 106 recorded during the same period one year ago. The twenty-one-point month-over-month decline signals a meaningful reversal from the spring recovery trajectory, as the demand momentum that had been building through the winter and spring months has rolled over more sharply than the prior-year seasonal pattern would suggest — a development consistent with the peak selling season reaching its ceiling and broader affordability and financing pressures reasserting themselves as buyer urgency fades entering early summer. The twenty-five-point year-over-year deficit is the widest annual gap observed for the DC metro in the current reporting cycle, indicating that the region is entering the summer period at a structurally softer level than the same period last year, with the market’s sensitivity to federal sector employment dynamics and elevated home prices contributing to a more cautious buyer posture than the underlying demand fundamentals of the region might otherwise support.
Demand by home type in the Washington DC metro during this report period reflects a broad cooling trend across segments, with varying levels of softness observed throughout the market. Entry-level single-family homes register 68, reflecting the weakest segment and continued pressure from affordability constraints, while the mid-range segment at 76 also indicates softer conditions in the core move-up market. In contrast, luxury single-family homes at 104 show comparatively more resilience, suggesting steadier high-end demand relative to other segments. Entry-level condos at 93 and luxury condos at 95 reflect more stable attached housing conditions relative to single-family segments, though still at softer levels overall. Townhomes and rowhouses at 83 indicate broadly slower activity, aligning with a metro-wide cooling pattern and pointing to a more cautious and measured market environment this report period.
Monthly Statistics for June 2026
Home Demand
Index
Index
81
(Slow)
Home Demand Index
from prior month
from prior month
102
Home Demand Index
from prior year
from prior year
106
Index change
from prior month
from prior month
-20.6%
Index change from
same time last year
same time last year
-23.6%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | June 2026
Home Demand Index
The Home Demand Index (HDI) for the Philadelphia metro area stands at 78 for this report period, down from 89 last month and below the 92 recorded during the same period one year ago. The eleven-point month-over-month decline signals a sharp reversal from the spring reactivation trajectory, as buyer urgency that had been building through April and May appears to have receded more quickly than seasonal norms would suggest — a pattern consistent with affordability constraints and financing sensitivity reasserting pressure as the market transitions from the peak selling period into early summer. The fourteen-point year-over-year deficit indicates that the Philadelphia market is entering the summer period at a softer level than the same period last year, with structural affordability barriers and the elevated cost of financing continuing to suppress the depth of buyer engagement even relative to the more modest prior-year demand environment.
Demand by home type in Philadelphia shows broad softening this period, consistent with the metro-wide index declining to 78 from 89 last month and 92 last year, reflecting a clear pullback in buyer engagement across segments following the spring peak. Entry-level single-family homes registered an index of 68, down from 81 last month and below last year’s 87, reflecting a pronounced pullback in first-time and value-driven buyer engagement as affordability constraints and post-peak seasonal normalization weigh more heavily on the most financing-sensitive tier. The mid-range single-family segment registered 76, down from 81 last month and below last year’s 86, indicating continued easing in move-up demand as spring momentum dissipates and buyers recalibrate expectations. Luxury single-family homes registered 80, down from 82 last month and below last year’s 94, signaling a continued easing in high-end buyer activity as discretionary demand softens after the seasonal peak. Entry-level condos registered 93, down from 119 last month and below last year’s 109, reflecting a meaningful contraction in lower-price attached demand, consistent with reduced first-time buyer participation and tightening affordability conditions. Luxury condos registered 95, down from 122 last month and below last year’s 119, indicating continued normalization in premium attached demand following stronger spring-period activity. Townhomes, rowhouses, and twin homes registered 81, down from 95 last month and below last year’s 97, reflecting a broad-based but orderly pullback in demand as post-spring market conditions moderate across the metro.
Monthly Statistics for June 2026
Home Demand
Index
Index
78
(Slow)
Home Demand Index
from prior month
from prior month
89
Home Demand Index
from prior year
from prior year
92
Index change
from prior month
from prior month
-12.4%
Index change from
same time last year
same time last year
-15.2%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | June 2026
Home Demand Index
The Home Demand Index (HDI) for the Baltimore metro area stands at 77 for this report period, down from 93 last month and below the 99 recorded during the same period one year ago. The sixteen-point month-over-month decline marks a pronounced reversal from the spring reactivation that had been building since February, signaling that peak-season demand has rolled over more sharply than seasonal norms would suggest and raising the possibility that affordability constraints and financing sensitivity are reasserting pressure as buyer urgency fades entering the early summer period. The twenty-two-point year-over-year deficit represents the widest annual gap recorded in recent reporting cycles for this metro, indicating that the Baltimore market is now tracking at a measurably softer level than the same period last year, with the structural headwinds of elevated home prices and persistent rate sensitivity continuing to erode the demand base that briefly appeared to be consolidating through the spring.
Demand by home type in Baltimore shows broad-based softening this period, consistent with the metro-wide index declining to 77 from 93 last month, with all segments likely registering meaningful month-over-month retreats as the post-spring demand rollover takes hold across the buyer spectrum. Entry-level single-family homes remain the most constrained tier, with first-time and value-driven buyers continuing to face acute affordability barriers at the lowest price points in a market where financing sensitivity is most pronounced, and the pullback in overall engagement is likely deepest in this segment given the lowest index reading. Mid-range single-family demand is retreating from spring highs as move-up buyer urgency fades, consistent with the market transitioning from the peak-urgency phase of the selling season toward a more measured early-summer pace. Luxury single-family activity, while retreating from its strong May reading, is likely exhibiting greater relative resilience than lower tiers, as discretionary buyers with less financing dependency maintain selective engagement with premium inventory. Entry-level condos continue to meaningfully outperform entry-level and mid-range single-family categories on an absolute basis, maintaining their structural role as the primary affordability outlet in the metro, though they remain below luxury single-family levels. Luxury condos and townhouses, rowhouses, and twin homes are moderating from their spring peaks in line with the broader market, with luxury condos retaining above-metro-average readings, while townhouses, rowhouses, and twin homes are now broadly in line with the metro average.
Monthly Statistics for June 2026
Home Demand
Index
Index
77
(Slow)
Home Demand Index
from prior month
from prior month
93
Home Demand Index
from prior year
from prior year
99
Index change
from prior month
from prior month
-17.2%
Index change from
same time last year
same time last year
-22.2%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com