Miami Ranks 4th in U.S. for New Listings, 3rd for Months’ Supply Increase

June 21, 2024

Miami’s real estate market is on the rise, with a remarkable 31.2% year-over-year surge in new inventory, from 9,555 in April 2023 to a robust 12,540 in April 2024. This change led to a 54% year-over-year increase in months’ supply, which expanded from 2.5 months to a healthy 4.1 months.

Regarding new listings, Bozeman, Montana; Omaha, Nebraska; and Phoenix led the rankings, while Tampa and Orlando took the top two spots for months’ supply increases.

On a national scale, the real estate market is showing promising signs, with new home listings increasing by 18.2% year-over-year and 6.3% month-over-month. The months’ supply also saw a substantial 28.8% annual increase and a steady 6.3% monthly rise.

“We’ve started the busy homebuying season on a very good note,” said RE/MAX President Amy Lessinger in a press release. “Gains in home sales, new listings, and the number of homes for sale are all signs of a more active, rebalancing market. This change has happened without a significant drop in interest rates, suggesting buyers and sellers may be less apt to delay their plans this year. More sellers have come into the market—and they’re finding buyers who are ready to go.”

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