DC Metro Area Market Overview-June 2024

Home Demand Map

Demand for homes was strongest in the Maryland-West Virginia Panhandle, with an HDI of 114, categorized as “Moderate,” indicating consistently strong buyer interest. This was followed by Southern Maryland, with an HDI standing at 107 and classified as “Steady.” The Washington Metro area and North Central Virginia fall into the category of “Slow,” with HDIs of 84 and 81, respectively, reflecting consistently weak buyer activity.

Home Demand Index

The Home Demand Index (HDI) for this report period stands at 84, reflecting a slow pace of buyer interest in the overall market. This represents a decrease from last month’s index of 90 and is also lower than the index of 93 recorded one year ago. The downward trend indicates a softening in market conditions amidst evolving economic factors.

During this report period, the Home Demand Index shows varied buyer interest across different home types. Demand for luxury single-family homes and condos remained robust, with these segments experiencing the highest levels of buyer activity. Despite strong demand, inventory levels remained constrained across all segments, leading to competitive market conditions.

Home Demand Index -Historical Year-over-Year Comparison

The Home Demand Index (HDI) for this report period shows a decline to 84 from last month’s 90 and is significantly lower than the 93 recorded in the same period last year. This decline indicates a consistent softening in market demand over the past year. Despite periodic fluctuations, the overall trend reflects challenges in maintaining buyer interest amid varying economic conditions.

Demand and Inventory by Home Type

During this report period, the Home Demand Index shows varied buyer interest across different home types. Demand for luxury single-family homes and condos remained robust, with these segments experiencing the highest levels of buyer activity. Despite strong demand, inventory levels remained constrained across all segments, leading to competitive market conditions.

Leave a Reply

Your email address will not be published.