Metro Index

Reader's Guide

What the market conditions mean

Plain-English definitions of the five condition labels you'll see across the index.

What does Very Competitive mean?

A Very Competitive metro is one where buyer demand is significantly outpacing the available supply of homes. Listings tend to move quickly, multiple-offer situations are common, and sellers generally have the upper hand on price and terms.

What does Accelerated mean?

An Accelerated metro is heating up. Demand is strengthening relative to supply — homes are getting more attention, inventory is tightening, and pricing power is shifting back toward sellers, even if conditions aren't yet at a full Very Competitive level.

What does Stabilizing mean?

A Stabilizing metro is in balance. Supply and demand are roughly aligned, prices are holding steady, and the market favors neither buyers nor sellers in a pronounced way. It's the closest thing to a 'normal' market.

What does Cooling mean?

A Cooling metro is softening. Inventory is building, homes are sitting on the market longer, and price reductions are becoming more common. Buyers gain more negotiating leverage as the pace of sales slows.

What does Very Weak mean?

A Very Weak metro is one where demand is severely lagging supply. Listings linger, price cuts are widespread, and buyers have meaningful leverage on price, concessions, and timing. Sellers typically need patience and sharper pricing strategy.