Signs of a shift this spring?

In anticipation of rising mortgage rates, housing market activity was strong this month, as buyers were eager to get into the market before rates head higher.

Home prices were pushed up again across the Bright footprint in April. However, there are signs that some segments of the market are shifting this spring, as both closed sales and pending sales were down in April compared to a year ago. Inventory may have also bottomed out, as supply increased notably between March and April.

 
How did the market perform in April? Download the Monthly Market Reports:

WASHINGTON D.C. METRO	BALTIMORE METRO	PHILADELPHIA METRO
Monthly Market Report	Monthly Market Report	Monthly Market Report

 
Each major metro saw a Moderate pace of buyer demand, though buyer demand was stronger for higher-priced homes.

Housing demand has been rising across each major metro for the past four months but has increased at a slower pace than it did last spring, reflecting headwinds of rising mortgage rates and higher home prices.

Dive deeper into your market down to the ZIP code! Choose any area to view the Home Demand Index May 2022 Reports. For help using the map, watch our video.

WASHINGTON-D.C.-METRO

BALTIMORE-METRO

PHILADELPHIA-METRO

Shareable resources

Key Findings - Washington, D.C. Download this graphic for the Washington D.C. Metro.		DOWNLOAD
Key Findings - Baltimore Download this graphic for the Baltimore Metro.		DOWNLOAD
Key Findings - Philadelphia Download this graphic for the Philadelphia Metro.		DOWNLOAD
Weekly Market Update Access these weekly reports for real-time data on residential market activity across the Bright footprint.		ACCESS NOW

 
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