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 2026
Home Demand Index
The Home Demand Index (HDI) for the Washington DC metro area stands at 75 for this report period, up from 69 last month and broadly in line with the 79 recorded during the same period one year ago. The six-point month-over-month gain reflects a meaningful spring reactivation in buyer activity, marking one of the more pronounced early-season recoveries across the three metros covered in this report. With the year-over-year gap narrowing to just four points, the DC market is tracking closer to prior-year demand levels than Baltimore or Philadelphia, suggesting underlying buyer engagement in the region remains comparatively resilient despite persistent affordability and financing headwinds.
Demand by home type in the Washington DC metro shows broad-based improvement from last month, with most segments advancing meaningfully and several posting readings competitive with or above year-ago levels. Entry-level single-family homes rose to 73 from 71 last month and above last year’s reading of 71, marking this segment as one of the few entry-level tiers in the region showing year-over-year improvement, consistent with sustained first-time buyer demand at accessible price points. Mid-range single-family homes advanced to 60 from 56 last month but remain below last year’s 66, pointing to move-up activity that is building momentum without yet reaching prior-spring levels. Luxury single-family homes posted a notable gain, rising to 76 from 63 last month, though still well below last year’s 98, suggesting high-end buyers are re-engaging selectively after a soft winter period. Entry-level condos climbed to 98 from 91 last month, slightly below last year’s 104, continuing to serve as an accessible alternative in one of the region’s higher-cost housing environments. Luxury condos rose to 110 from 96 last month but trail last year’s 128 by eighteen points, reflecting some moderation in premium attached demand from the elevated levels of early 2025. Townhouses advanced strongly to 78 from 71 last month and match last year’s reading of 78 exactly, indicating this segment has fully recovered to prior-spring demand levels and is well-positioned as a primary beneficiary of the metro’s spring buyer reactivation.
Monthly Statistics for March 2026
Home Demand
Index
Index
75
(Slow)
Home Demand Index
from prior month
from prior month
69
Home Demand Index
from prior year
from prior year
79
Index change
from prior month
from prior month
8.7%
Index change from
same time last year
same time last year
-5.1%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2026
Home Demand Index
The Home Demand Index (HDI) for the Philadelphia metro area stands at 63 for this report period, up modestly from 61 last month but meaningfully below the 73 recorded during the same period one year ago. The month-over-month gain reflects early seasonal reactivation as buyer attention increases entering spring, though the pace of recovery remains muted relative to prior-year benchmarks. A ten-point year-over-year deficit indicates the Philadelphia market is operating in a softer demand environment than last spring, with affordability pressures and financing sensitivity continuing to constrain buyer engagement across segments.
Demand by home type in Philadelphia reflects broad softening relative to last year, though most segments are showing modest month-over-month improvement as the spring season begins. Entry-level single-family homes registered an index of 59, down from 64 last month and below the 73 posted one year ago, indicating that affordability constraints are bearing most heavily on first-time buyers in this market. Mid-range single-family homes edged up to 54 from 53 last month but remain well below last year’s 60, suggesting move-up activity is stabilizing at a subdued level with limited near-term acceleration. Luxury single-family homes posted 39, up from 33 last month but trailing last year’s 51 by a notable margin, pointing to cautious high-end engagement and ongoing hesitancy among discretionary buyers in the upper tier. Entry-level condos advanced to 95 from 88 last month, though they remain below last year’s 99, continuing to represent one of the more resilient demand categories as affordability-focused buyers seek lower-maintenance alternatives. Luxury condos improved to 91 from 82 last month but sit below last year’s 122, reflecting a meaningful year-over-year cooling in premium attached demand that warrants continued monitoring. Townhouses and twin homes rose to 76 from 72 last month, though still below last year’s 87, with the segment’s value proposition sustaining a stable base of buyer interest as spring activity gradually builds.
Monthly Statistics for March 2026
Home Demand
Index
Index
63
(Limited)
Home Demand Index
from prior month
from prior month
61
Home Demand Index
from prior year
from prior year
73
Index change
from prior month
from prior month
3.3%
Index change from
same time last year
same time last year
-13.7%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | March 2026
Home Demand Index
The Home Demand Index (HDI) for the Baltimore metro area stands at 73 for this report period, up modestly from 71 last month but below the 80 recorded during the same period one year ago. This month-over-month improvement signals a tentative early-spring uptick in buyer engagement, consistent with seasonal reactivation following the winter slowdown. The year-over-year gap, however, indicates the market has not yet recovered to last March’s demand level, with affordability constraints and rate sensitivity continuing to temper the pace of recovery.
Demand by home type in Baltimore shows a mixed but generally firming picture this period, with most segments holding steady or improving modestly from last month while trailing year-ago levels. Entry-level single-family homes registered an index of 65, down slightly from 66 last month and meaningfully below the 73 posted one year ago, reflecting persistent affordability pressure on first-time and value-driven buyers in the most rate-sensitive segment. Mid-range single-family homes held flat at 65 ‚ unchanged from last month but below last year’s 72‚ suggesting move-up buyer activity has stabilized but not yet accelerated into spring. Luxury single-family homes improved to 66 from 60 last month, though demand remains below the 69 recorded a year ago, pointing to selective high-end engagement rather than broad-based momentum. Entry-level condos continue to outperform detached categories, rising to 105 from 102 last month, though slightly below last year’s 110, reinforcing their role as an affordability alternative for buyers navigating constrained budgets. Luxury condos posted 113, essentially unchanged from 114 last month but notably below last year’s 162, signaling a meaningful year-over-year cooling in high-end attached demand. Townhouses, rowhouses, and twin homes advanced to 82 from 78 last month, though still trailing the 89 recorded a year ago ‚ a segment that continues to benefit from its price-to-space value proposition as spring buyer activity builds.
Monthly Statistics for March 2026
Home Demand
Index
Index
73
(Slow)
Home Demand Index
from prior month
from prior month
71
Home Demand Index
from prior year
from prior year
80
Index change
from prior month
from prior month
2.8%
Index change from
same time last year
same time last year
-8.8%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com