Washington D.C. Metro

September 2024 | 
Home Demand Index: 77 | 
Tier: Slow

Metro Area Overview

The Home Demand Index (HDI) for this report period stands at 77, which is unchanged from last year’s level but reflects a slight decline from last month’s 81. This trend suggests a softening of market conditions consistent with broader economic challenges impacting buyer activity. The year-over-year stability indicates that while demand remains subdued, it is not significantly worsening compared to last year.
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 Washington D.C. 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:
  • Maryland-West Virginia Panhandle – Allegany, MD; Berkeley, WV; Garrett, MD; Grant, WV; Hampshire, WV; Hardy, WV; Jefferson, WV; Mineral, WV; Morgan, WV; Pendleton, WV; Washington, MD;
  • North Central Virginia – Caroline, VA; Clarke, VA; Culpeper, VA; Fauquier, VA; Frederick, VA; Fredericksburg City, VA; King George, VA; Madison, VA; Manassas City, VA; Orange, VA; Page, VA; Prince William, VA; Rappahannock, VA; Shenandoah, VA; Spotsylvania, VA; Stafford, VA; Warren, VA; Winchester City, VA;
  • Southern Maryland – Calvert, MD; Charles, MD; Saint Marys, MD;
  • Washington D.C. Metro – Alexandria City, VA; Arlington, VA; Fairfax, VA; Falls Church City, VA; Frederick, MD; Loudoun, VA; Montgomery, MD; Prince Georges, MD; Washington, DC;

Washington D.C. | September 2024

Home Demand Index

VIEW DETAILS
The Home Demand Index (HDI) for this report period stands at 77, which is unchanged from last year’s level but reflects a slight decline from last month’s 81. This trend suggests a softening of market conditions consistent with broader economic challenges impacting buyer activity. The year-over-year stability indicates that while demand remains subdued, it is not significantly worsening compared to last year.
The demand for single-family homes across various price points reflects a softening market trend, with entry-level and mid-range single-family homes both experiencing declines in buyer interest. Luxury single-family homes show a similar downward trend, albeit from a higher base of demand. Meanwhile, the condo market exhibits a relatively stable demand with minor fluctuations, and inventory levels remain constrained across all segments, maintaining a competitive market environment.
Monthly Statistics for September 2024
Home Demand
Index
77
(Slow)
Home Demand Index
from prior month
81
Home Demand Index
from prior year
77
Index change
from prior month
-4.9%
Index change from
same time last year
0%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com