Philadelphia Home Demand Index, December 2021

[Yuriy Skripnichenko]

Hi all, wew report from Bright:

Demand for homes in the Philadelphia Metro area fell sharply in December, according to the Bright MLS | T3 Home Demand Index. The December Index, at 69, reflected a Limited pace of demand and was down by nearly 26 percent from November. Compared with one year earlier, demand was almost 13 percent lower.

Demand decreased for all types of Philadelphia Metro area homes in December. 

The Index for higher-priced single-family homes fell the most, down by more than one-third over the month. Demand was weakest for lower-priced single-family homes, which captured Limited buyer interest. Demand was in the Slow range for all other types of homes. The months supply of homes ranged from a one-month supply for mid-priced single-family homes to 5.6 months for higher-priced condos.

Cheers, Yuriy