Philadelphia Metro

August 2022 | 
Home Demand Index: 108 | 
Tier: Steady

Metro Area Overview

Demand for homes in the Philadelphia Metro area fell in July according to the Bright MLS | T3 Home Demand Index. The Index, at 108, was 10 percent lower than the previous month and 6.1 percent lower than the same month 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 | August 2022

Home Demand Index

Demand for homes in the Philadelphia Metro area fell in July according to the Bright MLS | T3 Home Demand Index. The Index, at 108, was 10 percent lower than the previous month and 6.1 percent lower than the same month one year earlier.
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.
Monthly Statistics for August 2022
Home Demand
Index
108
(Steady)
Home Demand Index
from prior month
120
Home Demand Index
from prior year
115
Index change
from prior month
-10%
Index change from
same time last year
-6.1%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com