Philadelphia Metro

May 2022 | 
Home Demand Index: 124 | 
Tier: Moderate

Metro Area Overview

Demand for Philadelphia Metro area home rose in April according to the Bright MLS | T3 Home Demand Index. The Index, at 124, rose six percent to a level consistent with a Moderate level of demand.
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 | May 2022

Home Demand Index

Demand for Philadelphia Metro area home rose in April according to the Bright MLS | T3 Home Demand Index. The Index, at 124, rose six percent to a level consistent with a Moderate level of demand.
In April, demand was weakest for lower-priced single-family homes with Limited buyer interest. Buyer interest was strongest for higher-priced condos and higher-priced single-family homes, each recording High demand. Buyer interest in lower-priced single-family homes was unchanged while demand for condos was marginally lower. Demand for higher-price single-family homes rose the most, with an increase of 18 percent over the month. The months supply of homes changed little in April compared with the previous month. The inventory of homes ranged from a 1.1 months supply for mid-priced single-family homes to a 3.1 months supply for higher-priced condos.
Monthly Statistics for May 2022
Home Demand
Index
124
(Moderate)
Home Demand Index
from prior month
117
Home Demand Index
from prior year
144
Index change
from prior month
6%
Index change from
same time last year
-13.9%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com