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. | February 2026
Home Demand Index
The Home Demand Index (HDI) for the Washington, D.C. metro area is at 66 in this report period, up from 53 last month and just below the 67 level recorded one year ago. This rebound reflects a notable pickup in buyer activity compared to the prior period, following several months of softer readings toward the end of the year. While demand has recovered on a month-over-month basis, the slight year-over-year gap suggests that purchasing activity remains constrained relative to last year, with affordability challenges and financing conditions continuing to limit the depth of buyer participation.
Demand across home types in the Washington, D.C., area shows mixed performance this report period. Entry-level single-family homes have limited supply, though demand is slightly higher than last year, while luxury condo and single-family homes have seen demand increase sharply from last month, suggesting renewed interest in the luxury segment. These shifts indicate buyers are responding selectively to available inventory, with activity concentrating where value and supply are better aligned.
Monthly Statistics for February 2026
Home Demand
Index
Index
66
(Limited)
Home Demand Index
from prior month
from prior month
53
Home Demand Index
from prior year
from prior year
67
Index change
from prior month
from prior month
24.5%
Index change from
same time last year
same time last year
-1.5%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | February 2026
Home Demand Index
The Home Demand Index (HDI) for the Philadelphia metro area is 60 this report period, reflecting a notable increase from 47 last month and signaling a rebound in buyer activity. Compared with the same period last year, when the index stood at 65, demand remains modestly lower on a year-over-year basis. Overall, market conditions point to improving momentum month over month, though activity has not fully returned to last year’s levels.
Demand by home type in Philadelphia shows renewed divergence this report period, with entry-level single-family activity improving modestly while remaining below last year’s levels. Mid-range single-family metrics indicate a sharp rebound from last month, though volatility suggests activity is being driven more by limited inventory than broad-based demand. Overall, buyer engagement remains uneven across segments, reflecting selective purchasing behavior and sensitivity to pricing and availability.
Monthly Statistics for February 2026
Home Demand
Index
Index
60
(Limited)
Home Demand Index
from prior month
from prior month
47
Home Demand Index
from prior year
from prior year
65
Index change
from prior month
from prior month
27.7%
Index change from
same time last year
same time last year
-7.7%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | February 2026
Home Demand Index
The Home Demand Index (HDI) for the Baltimore metro area reflects a modest improvement this report period, rising from last month and returning to parity with the same time last year. This rebound suggests buyer activity has stabilized after a softer prior reading, though overall demand remains measured rather than expansive. The combination of month-over-month recovery and flat year-over-year performance points to cautious engagement, with affordability and financing conditions continuing to shape buyer behavior.
Demand by home type in Baltimore shows broad moderation consistent with the overall market, though performance varies by segment. Entry-level single-family homes remain the most constrained, as affordability pressures continue to limit first-time buyer activity. Mid-range single-family homes are comparatively steadier, supported by selective move-up demand. Luxury single-family homes show softer near-term momentum, though underlying interest remains healthier than lower tiers. Entry-level condos continue to function as an affordability alternative, while luxury condos retain relative strength tied to lifestyle-driven buyers. Townhouses, rowhouses, and twin homes show modest year-over-year softness but have gained momentum recently, remaining supported by their balance of price and space.
Monthly Statistics for February 2026
Home Demand
Index
Index
69
(Limited)
Home Demand Index
from prior month
from prior month
56
Home Demand Index
from prior year
from prior year
69
Index change
from prior month
from prior month
23.2%
Index change from
same time last year
same time last year
0%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com