April 2026 Report
Philadelphia Metro
Philadelphia | April 2026
Home Demand Index
The Home Demand Index (HDI) for the Philadelphia metro area stands at 80 for this report period, up substantially from 65 last month but below the 88 recorded during the same period one year ago. The fifteen-point month-over-month surge reflects a decisive spring reactivation in buyer engagement, marking the strongest sequential improvement in several reporting cycles and signaling that pent-up demand deferred through the winter is now converting into active market participation. The eight-point year-over-year deficit indicates the Philadelphia market has not yet fully closed the gap with last April’s activity level, with affordability constraints and financing sensitivity continuing to temper the pace of demand recovery even as the seasonal tailwind strengthens.
Demand by home type in Philadelphia shows broad-based spring improvement this period, with all segments posting month-over-month gains and several approaching or matching year-ago levels. Entry-level single-family homes rose to 75 from 62 last month but remain below last year’s 87, signaling improving first-time buyer engagement, though affordability in one of the region’s structurally elevated price environments continues to constrain full demand recovery. Mid-range single-family homes advanced to 68 from 55 last month but trail last year’s 76, pointing to move-up activity that is building spring momentum without yet reaching prior-year pace. Luxury single-family homes climbed to 60 from 39 last month but remain well below last year’s 73, indicating selective high-end re-engagement as spring inventory enters the market while year-over-year hesitancy persists in the region’s most discretionary tier—likely influenced by the area’s sensitivity to federal employment dynamics and policy-driven household mobility. Entry-level condos advanced to 114 from 97 last month, slightly below last year’s 118, continuing to serve as a compelling affordability alternative in one of the nation’s most expensive housing markets where the price gap between attached and detached products remains a primary driver of buyer composition. Luxury condos rose to 127 from 93 last month but trail last year’s 128 by just one point, effectively reaching year-over-year parity and signaling that premium attached demand has recovered more completely than any other segment. Townhouses and twin homes advanced to 92 from 78 last month but remain below last year’s 99, reflecting strong spring reactivation in a category that consistently benefits from its combination of space, location, and relative price efficiency across the region’s diverse submarkets.
Monthly Statistics for April 2026
Home Demand
Index
Index
80
(Slow)
Home Demand Index
from prior month
from prior month
65
Home Demand Index
from prior year
from prior year
88
Index change
from prior month
from prior month
23.1%
Index change from
same time last year
same time last year
-9.1%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | April 2026
Home Demand Index | Historical Year-over-Year Comparison
Over the past 12 months, Philadelphia’s Home Demand Index followed its familiar seasonal arc — peaking in the low 90s during spring and early summer before declining through fall and bottoming in the high 40s in December, followed by a gradual recovery through the winter months into the current period. The current reading of 80 represents the strongest HDI posting in the winter recovery phase and reflects a steeper rebound than observed through the winter, when the index was tracking below prior-year benchmarks in most months. The line chart now shows the current period running eight points below last April’s 88, a gap that has narrowed considerably from earlier in the cycle, suggesting Philadelphia’s spring reactivation is gaining momentum — though whether it fully closes the year-over-year shortfall will depend on the durability of current financing conditions and inventory availability through the peak selling season.
Home Demand Index
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | April 2026
Home Demand Map
Regional demand across the Philadelphia metro shows characteristic spring strengthening, with suburban Pennsylvania counties continuing to outperform the urban core, while New Jersey submarkets are seeing the softest demand. Delaware counties, including Kent and New Castle, are tracking above the metro-wide index, supported by steady demand. Montgomery County is also showing steady demand, while Bucks and Chester counties are operating below the metro-wide index, reflecting slower demand. Meanwhile, Camden, Gloucester, and other New Jersey county submarkets remain at limited demand levels, where affordability challenges, denser urban inventory dynamics, and more cautious buyer sentiment continue to suppress engagement relative to the broader metro.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | April 2026
Demand and Inventory by Home Type
Demand by home type in Philadelphia shows broad-based spring improvement this period, with all segments posting month-over-month gains and several approaching or matching year-ago levels. Entry-level single-family homes rose to 75 from 62 last month but remain below last year’s 87, signaling improving first-time buyer engagement, though affordability in one of the region’s structurally elevated price environments continues to constrain full demand recovery. Mid-range single-family homes advanced to 68 from 55 last month but trail last year’s 76, pointing to move-up activity that is building spring momentum without yet reaching prior-year pace. Luxury single-family homes climbed to 60 from 39 last month but remain well below last year’s 73, indicating selective high-end re-engagement as spring inventory enters the market while year-over-year hesitancy persists in the region’s most discretionary tier—likely influenced by the area’s sensitivity to federal employment dynamics and policy-driven household mobility. Entry-level condos advanced to 114 from 97 last month, slightly below last year’s 118, continuing to serve as a compelling affordability alternative in one of the nation’s most expensive housing markets where the price gap between attached and detached products remains a primary driver of buyer composition. Luxury condos rose to 127 from 93 last month but trail last year’s 128 by just one point, effectively reaching year-over-year parity and signaling that premium attached demand has recovered more completely than any other segment. Townhouses and twin homes advanced to 92 from 78 last month but remain below last year’s 99, reflecting strong spring reactivation in a category that consistently benefits from its combination of space, location, and relative price efficiency across the region’s diverse submarkets.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | April 2026
Single Family Home Below $365k
The index for entry-level single-family homes in Philadelphia stands at 75 this report period, up from 62 last month but below the 87 recorded one year ago. The thirteen-point month-over-month gain reflects meaningful spring reactivation among first-time and value-driven buyers, consistent with the broader recovery pattern accelerating across the metro this period. The twelve-point year-over-year gap underscores that affordability remains a structurally acute constraint at the entry tier in one of the nation’s most expensive housing markets, where even the lowest single-family price points carry significant financial commitment, suggesting that while seasonal demand is improving, the pace of full recovery in this segment will remain sensitive to financing cost movements and accessible inventory availability through the remainder of the spring cycle.
Monthly Statistics for Single Family Home Below $365k
Home Demand
Index
Index
75
(Slow)
Home Demand Index
from prior month
from prior month
62
Home Demand Index
from prior year
from prior year
87
Months of
inventory
inventory
2.1
Average daily inventory last month
1,084
Inventory sold
last month
last month
508
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | April 2026
Single Family Home $365k - $805k
Mid-range single-family homes in Philadelphia registered an index of 68 this report period, up from 55 last month but below last year’s reading of 76. The thirteen-point month-over-month acceleration reflects building spring momentum in the move-up segment, consistent with the stronger sequential improvement pattern observable across most demand categories this period. The eight-point year-over-year shortfall indicates that qualified move-up households, while more actively engaged than at any point since last fall, remain measured in their commitment, balancing the region’s elevated price environment and persistent financing costs against near-term economic uncertainty that may be influencing decision timing, particularly among households with sensitivity to federal sector employment conditions.
Monthly Statistics for Single Family Home $365k - $805k
Home Demand
Index
Index
68
(Limited)
Home Demand Index
from prior month
from prior month
55
Home Demand Index
from prior year
from prior year
76
Months of
Inventory
Inventory
1.9
Average daily inventory last month
2,294
Inventory sold
last month
last month
1,233
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | April 2026
Single Family Home Above $805k
The index for luxury single-family homes in Philadelphia stands at 60 this report period, up from 39 last month but well below last year’s reading of 73. The twenty-one-point month-over-month gain signals a meaningful reactivation among high-end buyers entering the spring market, reflecting the discretionary demand rebound typical of the luxury segment as seasonal conditions improve and premium inventory becomes available. The thirteen-point year-over-year gap is the widest shortfall in the single-family spectrum for this metro this period and may reflect a structural caution among affluent buyers related to broader economic uncertainty, factors that have historically influenced decision-making in the luxury segment across major metros.
Monthly Statistics for Single Family Home Above $805k
Home Demand
Index
Index
60
(Limited)
Home Demand Index
from prior month
from prior month
39
Home Demand Index
from prior year
from prior year
73
Months of
Inventory
Inventory
3.2
Average daily inventory last month
760
Inventory sold
last month
last month
241
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | April 2026
Condo Below $425k
Entry-level condo demand in Philadelphia stands at 114 this report period, up from 97 last month and slightly below last year’s level of 118. The seventeen-point month-over-month improvement signals a robust acceleration in buyer interest in more accessible attached housing options as spring activity builds across the region, consistent with the strong sequential gains visible across most demand categories this period. At 114, this segment substantially outperforms the metro-wide index of 80 and all single-family tiers, underscoring the persistent role of entry-level condos as a primary affordability outlet in one of the nation’s most expensive housing markets, where the price differential between attached and detached product continues to channel a significant share of buyer demand toward this category.
Monthly Statistics for Condo Below $425k
Home Demand
Index
Index
114
(Moderate)
Home Demand Index
from prior month
from prior month
97
Home Demand Index
from prior year
from prior year
118
Months of
Inventory
Inventory
4.9
Average daily inventory last month
1,073
Inventory sold
last month
last month
219
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | April 2026
Condo Above $425k
Luxury condo demand in Philadelphia registered 127 this report period, up substantially from 93 last month and essentially matching last year’s level of 128. The thirty-four-point month-over-month rebound signals a decisive spring reactivation among affluent condo buyers, consistent with the lifestyle-driven and downsizing demand patterns that tend to accelerate as the selling season opens and premium inventory becomes more visible. The near-complete year-over-year parity, with just one point separating the current reading from last April’s 128, distinguishes this segment as the most fully recovered demand category across all home types and metros covered in this report, suggesting that luxury condo buyers have more thoroughly re-engaged with the market than their counterparts in any other segment or geography.
Monthly Statistics for Condo Above $425k
Home Demand
Index
Index
127
(Moderate)
Home Demand Index
from prior month
from prior month
93
Home Demand Index
from prior year
from prior year
128
Months of
Inventory
Inventory
6.4
Average daily inventory last month
249
Inventory sold
last month
last month
39
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | April 2026
Townhouse/Rowhouse/Twin All prices
Townhouse/
Rowhouse/Twin
All prices
The index for townhouses, rowhouses, and twin homes in Philadelphia stands at 92 this report period, up from 78 last month but below last year’s level of 99. The fourteen-point month-over-month gain reflects a robust spring reactivation in the attached single-family segment, consistent with this category’s established appeal across the metro’s diverse submarkets where townhouses and twin homes offer a compelling combination of space, accessibility, and relative price efficiency that resonates with a broad cross-section of active buyers. The seven-point year-over-year gap indicates the segment is tracking below last April’s pace, though at 92 it remains one of the stronger absolute readings across the metro and is well-positioned to narrow the year-over-year shortfall further as peak season conditions develop through May.
Monthly Statistics for Townhouse/Rowhouse/TwinAll prices
Home Demand
Index
Index
92
(Steady)
Home Demand Index
from prior month
from prior month
78
Home Demand Index
from prior year
from prior year
99
Months of
Inventory
Inventory
3.7
Average daily inventory last month
5,925
Inventory sold
last month
last month
1,623
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Note
1. This report is generated with data from the following counties:
- 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;
2. This report is for the April 2026 period with data collected from the previous month.
Released: April 13, 2026
Reference ID: 2406
Philadelphia | April 2026
Home Demand Map (Zip Codes)
Regional demand across the Philadelphia metro shows characteristic spring strengthening, with suburban Pennsylvania counties continuing to outperform the urban core, while New Jersey submarkets are seeing the softest demand. Delaware counties, including Kent and New Castle, are tracking above the metro-wide index, supported by steady demand. Montgomery County is also showing steady demand, while Bucks and Chester counties are operating below the metro-wide index, reflecting slower demand. Meanwhile, Camden, Gloucester, and other New Jersey county submarkets remain at limited demand levels, where affordability challenges, denser urban inventory dynamics, and more cautious buyer sentiment continue to suppress engagement relative to the broader metro.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com