Buyer interest in Washington Metro area homes eased in February. The Bright MLS | T3 Home Demand Index decreased 2.7 percent to 72, a reading consistent with a slow pace of buyer activity. Compared with one year earlier, the Index was one-third lower.
Demand for all types of homes softened in February except for luxury single-family homes, which rose by one-fifth. Although declining over the month, buyer interest was strongest for luxury condos with demand in the steady category. The index was in the limited range for mid-market single-family homes and in the slow category among the remaining segments of the market. The months' supply ranged from 1.7 months for mid-market single-family homes to 3.6 months for luxury condos. The months' supply fell for each type of home in February compared with the month before.
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