| Home Demand Map Buyer interest was strongest in Arlington County with an Index in the High range and in Alexandria City where demand was Moderate. Demand was Limited in Frederick County and Steady or Slow in the rest of the Washington Metro area. Buyer interest decreased over the month in each Washington Metro area county. The Index was in the Moderate range in the Southern Maryland and Maryland-West Virginia Panhandle market areas and Slow in the North Central Virginia region. The slowdown in buyer activity was evident at the ZIP code level as well. Across the Greater Washington Metro area demand in 28 percent of ZIP codes was in the High or Moderate range in October compared with 41 percent in September.  Home Demand IndexThe Bright MLS | T3 Home Demand Index dropped 14.3 percent to 90 in October, a reading that reflects a Steady pace of buyer interest in Washington Metro area homes. The Index was 29.1 percent lower than one year earlier. Demand for all types of homes fell over the month. The Index for higher-priced condos decreased 26 percent in October, more than any other segment of the market. The Index for other types of homes was down between 12 percent and 18 percent. Demand was strongest for higher-priced single-family homes with an Index reading that remained in the High range. Buyer interest was Limited for lower-priced single-family homes and Moderate or Steady for the remaining types of homes. The months supply of inventory ranged from 2.3 months for mid-priced single-family homes to 4.3 months for higher-priced condos. Changes in the months supply in October were mixed. The months supply rose for mid-priced single-family homes, lower-priced condos and townhouses but fell among the other segments.  Home Demand Index | Historical Year-over-Year Comparison Demand and Inventory by Home Type Demand for all types of homes fell over the month. The Index for higher-priced condos decreased 26 percent in October, more than any other segment of the market. The Index for other types of homes was down between 12 percent and 18 percent. Demand was strongest for higher-priced single-family homes with an Index reading that remained in the High range. Buyer interest was Limited for lower-priced single-family homes and Moderate or Steady for the remaining types of homes. The months supply of inventory ranged from 2.3 months for mid-priced single-family homes to 4.3 months for higher-priced condos. Changes in the months supply in October were mixed. The months supply rose for mid-priced single-family homes, lower-priced condos and townhouses but fell among the other segments.  |
