Among the 50 largest U.S. metros, Miami had the fourth largest increase in new listings and the third largest increase in months of supply. RE/MAX reported in his National Housing Report for April.
Courtesy of RE/MAX.
The market saw a 31.2% year-over-year increase in new inventory, from 9,555 in April 2023 to 12,540 last month. This contributed to a 54% year-over-year increase in monthly supply, from 2.5 months to 4.1 months.
Bozeman, MT; Omaha, Nebraska; And Phoenix respectively took the top three spots in terms of new listings, while Tampa and Orlando took the top two spots for increase in supply over the months.
Nationally, new home listings increased 18.2% year-over-year and 6.3% month-over-month, while monthly supply increased 28.8% month-over-year. on an annual basis and 6.3% on a monthly basis.
Courtesy of RE/MAX.
“We started the busy home buying season on a very good note,” RE/MAX President Amy Lessinger said in a press release. “Increases in home sales, new listings and the number of homes for sale are all signs of a more active and rebalancing market. This occurred without a significant drop in interest rates, suggesting that buyers and sellers may be less inclined to delay their plans this year. More and more sellers have entered the market and they are finding buyers ready to move on.
