Rankings/Reading, PA

Reading, PA

NeutralTier 1CBSA 39740Compare

Risk Rank: #150 of 287Month: 2025-12Score change (12m):↑ +15

49score

Composite risk percentile vs 287 metros (higher = higher risk)

Cycle Phase

Reading experienced a market correction from late 2025 through late 2025. The market is currently recovering.

Recovery

Expansion

Hypersupply

Recession

In Recovery for 3 months·Previously: Recovery

Market conditions are rebuilding after a correction period

Recovery

Expansion

Hypersupply

Recession

Reading's housing market shows average risk, ranking 150th of 287 metros. The market recently entered Recovery. Current conditions are balanced with stable liquidity.

Executive Summary

Risk is Neutral, driven primarily by permit growth and price momentum. The market is in Recovery phase. Liquidity is stable and valuation is balanced.

Top Risk Drivers (This Month)

Permit Growth

p94 (highest risk decile)

YoY permit change

Price Momentum

p70 (moderate)

12-month HPI change

Migration

p68 (moderate)

Net AGI migration (risk inverted)

Market Signals

Inventory is growing at a moderate +10% pace with homes taking +14% longer to sell — within normal ranges.

Liquidity

Stable↓

Active Listings YoY

+9.9%p59

Days on Market YoY

+13.9%p74

Months in status1

Data through Dec 2025

Valuation

Balanced—

Rent vs. Price Growth

-2.0%p34

Months in status19

Data through Dec 2025Rent growth vs price growth (rent support). Note: Affordability and Valuation measure different structural dimensions and can diverge.

Factor Details

Factor Breakdown

Price Momentum70

12-month HPI change — higher = overheating

Permit Growth94

YoY permit change — higher = supply pressure

Permits per Capita2

Permits per 1,000 residents — higher = overbuilding risk

Affordability18

Mortgage payment / income — higher = more burdened

Employment41

12-month employment change (risk inverted)

Migration68

Net AGI migration (risk inverted)

Underlying Values

Metric	Value	Pctile
Price Momentum	+3.7%	p70
Permit Growth	+50.0%	p94
Permits/1K Pop	0.90	p2
Affordability	0.23	p18
Employment	+0.5%	p41
Net AGI Migration	-$18K	p68

National ContextDoes not affect score

Credit Conditions

Credit Regime

Stable—

Healthy recovery. Credit is flowing normally and transactions are steady — conditions favor continued rebuilding.

Bank Lending Standards

-5.7Normal

Rate Change (YoY)

-74 bpsNormal

Mortgage Risk Premium

+189 bpsElevated

Stable for 8 quartersData through 2026-Q1

Supply Pipeline

Supply Regime

Accumulating—

Supply pipeline is building up while credit remains available. New units are accumulating in the system — watch for delivery pressure in coming quarters.

Pipeline Ratio

0.91High

Completion-Permit Divergence

-3.2 ppNormal

Accumulating for 3 quartersData through 2025-Q4

Local SignalsDoes not affect score

Metro Permit Activity

Permit Activity

Surge

YoY Permit Growth

+50.0%Far above norm

Raw signal — not the composite percentile

Relative to 2016–2019 norms for this metro

Based on limited permit volume

Permit activity is surging and demand is absorbing it. Both sides of the market are running hot — monitor for overheating if liquidity shifts.

Liquidity

Stable↓

Active Listings YoY+9.9%

Days on Market YoY+13.9%

AssessmentBalanced conditions

Stable for 1 monthData through Dec 2025

Internal Structure

County-level structural analysis.

County-level structural analysis is not available for this metro due to fewer than 3 qualifying counties.

Score History

Month	Phase	Score	Price	Permits	Afford	Employ	Migr
2025-11	Rec	44	77	65	16	37	68
2025-09	Ress	45	75	65	16	42	68
2025-08	Rec	39	66	65	16	18	68
2025-06	Ress	43	81	65	19	23	68
2025-05	Hyp	44	78	65	19	31	68
2025-04	Rec	44	72	65	19	36	68
2025-02	Hyp	36	45	65	17	19	68
2024-12	Rec	34	31	65	16	22	68
2024-11	Exp	37	36	65	15	36	68
2024-09	Exp	42	67	65	17	31	68
2024-08	Hyp	46	68	65	17	54	68
2024-06	Exp	48	90	65	18	45	68
2024-05	Rec	52	91	65	18	65	68
2024-03	Rec	53	93	65	18	74	68
2024-02	Exp	54	94	65	18	75	68
2023-12	Exp	53	88	65	15	78	68
2023-09	Exp	50	84	65	15	66	68
2023-08	Rec	51	88	65	15	68	68
2023-06	Rec	52	82	65	14	83	68
2023-04	Exp	47	78	65	14	56	68
2023-02	Exp	43	59	65	12	50	68
2022-11	Exp	40	71	65	16	21	68
2022-08	Exp	36	45	65	12	26	68
2022-07	Rec	38	48	65	12	30	68
2022-05	Rec	35	37	65	12	26	68
2022-04	Exp	36	36	65	12	30	68
2022-02	Exp	39	35	65	12	51	68
2022-01	Rec	42	32	65	12	71	68
2021-11	Rec	39	41	65	10	78	40
2021-10	Exp	39	43	65	10	72	40
2021-08	Exp	37	41	65	9	66	40
2021-05	Exp	32	54	65	9	21	40
2021-04	Rec	30	56	65	9	8	40
2021-02	Rec	42	55	65	9	83	40
2021-01	Exp	41	50	65	9	79	40
2020-11	Exp	45	65	65	5	84	50
2020-08	Rec	47	74	65	5	88	50
2020-06	Rec	45	63	65	4	87	50
2020-04	Exp	45	53	65	4	96	50
2020-02	Exp	48	77	65	5	91	50
2020-01	Rec	45	74	65	5	73	50
2019-11	Rec	40	49	65	4	57	66
2019-10	Exp	43	53	65	4	66	66
2019-08	Exp	35	38	65	4	37	66
2019-07	Rec	38	36	65	4	54	66
2019-05	Rec	38	35	65	4	57	66
2019-04	Exp	34	32	65	4	35	66
2019-02	Exp	34	23	65	3	44	66
2019-01	Exp	37	22	65	3	63	66

Data Vintages

Price (HPI)2025-Q3

Permits2025-12

Income2024

Employment2025-12

Migration2022