Philadelphia Home Demand Index, March 2022

[Yuriy Skripnichenko]

Hi all, new report from Bright below: 

Demand for Philadelphia Metro area homes rose by 12.5 percent in March according to the Bright MLS T3 Home Demand Index. The Index, at 117, reflected Moderate buyer demand, an increase from Steady demand in February.

In March, buyer interest was strongest for higher-priced condos and higher-priced single-family homes, each recording High demand. Demand was weakest for lower-priced single-family homes with Limited buyer interest. Moreover, demand increased for each type of home except lower-priced single-family. The Index for higher-priced single-family homes rose the most, up by 26 percent over the month. The months supply fell among all types of homes. The inventory of homes ranged from a one-month supply for mid-priced single-family homes to a 3.2 months supply for higher-priced condos.

Cheers, 

Yuriy