The Weekly Market Report provides up-to-date listing and showing information to help you track market activity in real time. These reports are posted to this page as they are released.

Here are the highlights for the week ending October 23, 2022:

• The cooldown in the market is accelerating. During the week ending October 23, closed sales in the Bright footprint were down 30.9% from a year ago. The number of new purchase contracts was 36.2% lower than last year at this time and fell 4.3% compared to a week ago. Home sales activity tends to slow during the fall; however, this year the slowdown has been steeper than typical as rising mortgage rates keep buyers out of the market.
• Buyer traffic is at its lowest level since last December. Home shoppers have definitely moved to the sidelines in October. The number of weekly showings had been tracking above 2019 levels during much of this year but has been lower than three years ago since early September. Weekly showing activity this week was at its lowest level since last December during the week between Christmas and New Year’s.
• Inventory continues to grow. Slower sales activity means homes are staying on the market longer and inventory is rising. The average daily inventory during the week ending October 23 was up 17.9% over last year and expanded by 0.2% compared to a week ago. New listings are still down considerably which suggests that even as inventory increases, overall, it is unlikely to see a surge in active listings across the Bright footprint.
 

Get the latest data:

Week Ending October 23, 2022

Access previous Weekly Market Reports:

• 2022 Reports
• 2021 Reports
• 2020 Reports
   

What’s included in the weekly report:

• Average daily active inventory
• New listings
• New purchase contracts
• Number of new closed listings
• Average number of days between purchase contract date and closing date
• Showing activity
• Percent of active listings with a price drop
• Data by region/state: Washington, D.C., Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia
   

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