Philadelphia Home Demand Index, July 2021

[Yuriy Skripnichenko]

New report from Bright. 

The Bright MLS | T3 Home Demand Index for the Philadelphia Metro area fell nearly 18 percent in July marking the third consecutive decline since the April peak. The Index, at 115, reflected a Moderate level of demand and was 16 percent below the level one year earlier.

Demand among each of the types of homes tracked by the Index fell in July compared with the previous month, reflecting a market-wide decrease in buyer interest.

Demand continued to be strongest in the higher-priced single-family segment. The months supply remained extraordinarily lean across all segments of the market, ranging from 1.2 months for mid-priced single-family homes to 4.2 months for higher-priced condos.

See full report here