Philadelphia Metro

December 2024 | 
Home Demand Index: 69 | 
Tier: Limited

Metro Area Overview

The Home Demand Index (HDI) currently stands at 69, down slightly from last month’s 70 but higher than last year’s index of 64. This trend reflects a marginal cooling in buyer activity month-over-month while maintaining a positive year-over-year trajectory. The steady annual improvement signals a recovering market with sustained buyer interest despite seasonal fluctuations.
The market trend line, below, provides a high-level monthly overview of the Home Demand Index for each of the metro market areas within the Greater Philadelphia Metro Area. The Home Demand Index is baselined at 100, with 90-110 indicating a steady market. Index values above 110 indicate moderate and high activity while Index values below 90 indicate slower or limited activity. For more information for a given period of time, click on any point on the map to pull up the monthly report.
Metro Market Trend Data by Bright MLS | T3 Home Demand Index
Each of the market areas listed above are defined as follows:
  • Central Pennsylvania – Adams, PA; Berks, PA; Cumberland, PA; Dauphin, PA; Franklin, PA; Fulton, PA; Lancaster, PA; Lebanon, PA; Perry, PA; Schuylkill, PA; York, PA;
  • Ocean County – Ocean, NJ;
  • Philadelphia Metro – Bucks, PA; Burlington, NJ; Camden, NJ; Chester, PA; Delaware, PA; Gloucester, NJ; Kent, DE; Mercer, NJ; Montgomery, PA; New Castle, DE; Philadelphia, PA;
  • Salem-Cumberland – Cumberland, NJ; Salem, NJ;

Philadelphia | December 2024

Home Demand Index

VIEW DETAILS
The Home Demand Index (HDI) currently stands at 69, down slightly from last month’s 70 but higher than last year’s index of 64. This trend reflects a marginal cooling in buyer activity month-over-month while maintaining a positive year-over-year trajectory. The steady annual improvement signals a recovering market with sustained buyer interest despite seasonal fluctuations.
Entry-level single-family homes have seen demand stabilize at 71, unchanged from last month but higher than last year’s 68. Mid-range homes experienced a slight decline, dropping from 64 last month to 62 this period. Luxury homes have seen a decrease, with demand falling from 56 last month to 47. The remaining home segments have shown an increase this period. This disparity suggests heightened competition in the luxury homes segment, while entry-level demand remains steady amid affordability constraints.
Monthly Statistics for December 2024
Home Demand
Index
69
(Limited)
Home Demand Index
from prior month
70
Home Demand Index
from prior year
64
Index change
from prior month
-1.4%
Index change from
same time last year
7.8%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com