Miami saw the fourth-highest increase in new listings and the third-highest gain in months’ supply among the top 50 U.S. metros, RE/MAX reported in its National Housing Report for April. 

Courtesy of RE/MAX.

The market saw a 31.2% year-over-year jump in new inventory, which rose from 9,555 in April 2023 to 12,540 last month. This helped drive a 54% year-over-year jump in months’ supply, which rose from 2.5 months to 4.1 months. 

Bozeman, Montana; Omaha, Nebraska; and Phoenix took the top three spots in terms of new listings, respectively, while Tampa and Orlando took the top two spots for months’ supply increases. 

Nationwide, new home listings were up 18.2% year over year and 6.3% month over month, while months’ supply was up 28.8% on an annual basis and 6.3% on a monthly one. 

Courtesy of RE/MAX.

“We’ve started the busy homebuying season on a very good note,” RE/MAX President Amy Lessinger said 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 has happened without a significant drop in interest rates — suggesting that 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.”