What is the Home Demand Index?
The Home Demand Index (HDI) is the nation’s only local housing market index that tracks pre-sale activity to measure housing market competitiveness. The HDI uses data on pre-sale activities, including in-person showings of homes and views of homes online, to measure housing market activity across different geographies and types of homes. The data used to construct the HDI are the most accurate and up-to-date information from the real estate agents and prospective buyers and sellers that are active in the market.
While most housing market indices are based on history, the HDI provides forward-looking insights to real estate professionals and consumers to help make better decisions in a rapidly changing real estate market
Greater Metropolitan Market Areas
The Bright MLS |T3 Home Demand Index currently covers the three greater metropolitan market areas served by Bright MLS, namely the Greater Philadelphia Area (in blue), the Greater Washington D.C. Area (in gray), and the Greater Baltimore Area (in orange).
Colors are provided for visual identification of each market area and do not correlate to index activity level. Make a selection on the map to go to the report for a market area or view an overview of each market area here..
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Washington D.C. | March 2025
Home Demand Index
The current Home Demand Index (HDI) stands at 74, an increase from last month’s 65 but slightly below the 76 recorded during the same period last year. The month-over-month rise suggests a rebound in buyer interest, while the slight year-over-year decline indicates relatively stable demand. However, low inventory levels continue to constrain buyer options and moderate overall market activity.
Demand for luxury single-family homes saw a sharp increase, rising to 89 from last month’s 63, indicating a significant shift in buyer interest. Mid-market single-family homes followed, reaching 61, up from 53 last month but down from 67 last year. The diverging trends across home segments suggest that mid-range and higher-end properties are experiencing stronger demand. This growth coincides with an increase in inventory compared to last month, potentially providing more options for buyers.
Monthly Statistics for March 2025
Home Demand
Index
Index
74
(Slow)
Home Demand Index
from prior month
from prior month
65
Home Demand Index
from prior year
from prior year
76
Index change
from prior month
from prior month
13.8%
Index change from
same time last year
same time last year
-2.6%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2025
Home Demand Index
The Home Demand Index (HDI) for this report period stands at 71, reflecting an increase from last month’s 65 but a decline compared to last year’s 77. The month-over-month improvement indicates growing buyer activity, potentially driven by seasonal demand or improving economic conditions. However, the year-over-year decline suggests that demand remains softer than the previous year, highlighting ongoing market challenges.
Demand for entry-level single-family homes remains stable at 71, down from 77 last year, reflecting ongoing affordability concerns. The luxury single-family segment saw a sharp increase to 51, rising from 41 last month, suggesting a surge in buyer interest or changes in inventory. This variation underscores the dynamic market conditions across different price tiers.
Monthly Statistics for March 2025
Home Demand
Index
Index
71
(Slow)
Home Demand Index
from prior month
from prior month
65
Home Demand Index
from prior year
from prior year
77
Index change
from prior month
from prior month
9.2%
Index change from
same time last year
same time last year
-7.8%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | March 2025
Home Demand Index
The Home Demand Index (HDI) for Baltimore stands at 75 this report period, reflecting an increase from last month’s 68 but a decline from last year’s 83. This upward movement suggests a strengthening in buyer activity compared to the previous month, though demand remains lower than the same period last year. Market conditions continue to be influenced by affordability constraints and inventory challenges.
Entry-level single-family homes have experienced a modest increase in demand, driven by affordability constraints and limited inventory. Mid-market single-family homes saw a 10% rise in demand, suggesting improved buyer confidence. Luxury single-family homes exhibited the strongest growth, with a 31% increase, possibly fueled by shifting investment preferences. Entry-level condos have maintained steady demand, with competition persisting due to tight supply. Luxury condos continue to see heightened demand, reinforcing the overall trend of increased buyer activity across property types.
Monthly Statistics for March 2025
Home Demand
Index
Index
75
(Slow)
Home Demand Index
from prior month
from prior month
68
Home Demand Index
from prior year
from prior year
83
Index change
from prior month
from prior month
10.3%
Index change from
same time last year
same time last year
-9.6%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com