Philadelphia Metro

Buyer interest was strongest for higher-priced single-family homes in September followed by higher-priced condos, both with an Index in the High range. The mid-priced single-family, lower-priced condo and townhouse segments were characterized by Steady demand. Demand for each type of home changed little over the month. The months supply rose for all types of homes reflecting a pullback in sales relative to a small decrease in listings on the market. The months supply ranged from 6.4 months in the higher-priced condo segment to 1.4 month in the mid-priced single-family segment.

Demand for Philadelphia Metro area homes was strongest for higher-priced single-family homes, which remained in the High demand category in August. Buyer interest was Steady for mid-priced single-family homes, lower-priced condos and townhouses. Demand rose marginally for higher-priced condos over the month and was down for each of the remaining types of homes. In August, the months supply fell for each type of home except higher-priced condos. The inventory of homes ranged from a 1.3 months supply for mid-priced single-family homes to a 5.5 months supply for higher-priced condos.

Demand for all types of homes fell in July. The largest decrease in the Index was in the higher-priced condo segment, down 17 percent over the month. Compared with one year earlier, demand was lower for all types of homes except higher-priced single-family homes, which was 16 percent higher. Buyer interest was strongest for higher-priced single-family homes, which remained in the High demand category in July. Although declining over the month, demand for townhouses remained in the Moderate range. The months supply rose for each type of home in July. The inventory of homes ranged from a 1.4 months supply for mid-priced single-family homes to a 4.8 months supply for higher-priced condos.

Except for lower-priced single-family homes, demand for each type of Philadelphia Metro area home rose marginally in June. Compared with one year earlier, however, demand was significantly lower for all types of homes except higher-priced single-family homes. Buyer interest was strongest for higher-priced single-family homes and higher-priced condos, each remaining in the High demand category in June. Buyer interest in lower-priced single-family homes was Limited. Demand was Moderate for other types of Philadelphia Metro area homes. The months supply of homes was down marginally among the single-family segments and lower-priced condos and unchanged among the remaining segments. The inventory of homes ranged from a 1.1 months supply for mid-priced single-family homes to a 3.6 months supply for higher-priced condos.

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.

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.