Philadelphia Metro

September 2022 | 
Home Demand Index: 101 | 
Tier: Steady

Metro Area Overview

Demand for homes in the Philadelphia Metro market area fell in August according to the Bright MLS | T3 Home Demand Index. The Index, at 101, was 6.5 percent lower compared with the previous month and 14 percent lower than one year earlier.
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 | September 2022

Home Demand Index

Demand for homes in the Philadelphia Metro market area fell in August according to the Bright MLS | T3 Home Demand Index. The Index, at 101, was 6.5 percent lower compared with the previous month and 14 percent lower than one year earlier.
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.
Monthly Statistics for September 2022
Home Demand
Index
101
(Steady)
Home Demand Index
from prior month
108
Home Demand Index
from prior year
118
Index change
from prior month
-6.5%
Index change from
same time last year
-14.4%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com