Baltimore Metro

November 2024 | 
Home Demand Index: 72 | 
Tier: Slow

Metro Area Overview

The Home Demand Index (HDI) for Baltimore currently stands at 72, reflecting a notable decrease from last months 87 and an increase from last year’s 66. This decline indicates a cooling in buyer interest compared to the previous month, though the annual growth highlights a more resilient demand in the market. Market dynamics continue to be influenced by economic factors, including fluctuations in mortgage rates and inventory constraints.
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 Baltimore 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:
  • Baltimore Metro – Anne Arundel, MD; Baltimore City, MD; Baltimore, MD; Carroll, MD; Harford, MD; Howard, MD;
  • DelMar Coastal – Somerset, MD; Sussex, DE; Wicomico, MD; Worcester, MD;
  • Maryland Eastern Shore – Caroline, MD; Cecil, MD; Dorchester, MD; Kent, MD; Queen Annes, MD; Talbot, MD;

Baltimore | November 2024

Home Demand Index

VIEW DETAILS
The Home Demand Index (HDI) for Baltimore currently stands at 72, reflecting a notable decrease from last months 87 and an increase from last year’s 66. This decline indicates a cooling in buyer interest compared to the previous month, though the annual growth highlights a more resilient demand in the market. Market dynamics continue to be influenced by economic factors, including fluctuations in mortgage rates and inventory constraints.
Demand for entry-level single-family homes is rising, with affordable options attracting more buyers. Luxury condos maintain the highest buyer interest, showing a slight gain in demand. Mid-market single-family homes have softened, while entry-level condos are holding steady. Townhouses see slower demand, constrained by limited inventory. The overall market shows mixed performance across home types, adapting to evolving buyer preferences.
Monthly Statistics for November 2024
Home Demand
Index
72
(Slow)
Home Demand Index
from prior month
87
Home Demand Index
from prior year
66
Index change
from prior month
-17.2%
Index change from
same time last year
9.1%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com