The pace of Miami home sales dropped 8.4% year over year to 5,616 in June, according to the latest RE/MAX National Housing Report. Month over month, sales were down 8.8%. 

Nationally, home sales in the 50 metro areas surveyed by RE/MAX rose 5.7% year over year and 1.3% month over month. 

The national median-sales price rose for the 24th month in a row, climbing 2.1% year over year and 2.8% month over month to $440,000. 

The number of homes for sale in the United States in June jumped 30.1% year over year and 3.9% month over month. Months’ supply of inventory was 2.7 months, up from 2.1 months in June 2024 and 2.5 months in May. Miami led the nation in months’ supply, with 7.4 months following a 48.8% surge. 

The average close-to-list-price ratio was 99%, the same as in May but down from 100% in June 2024. 

“On a national basis, the market continues to be resilient with more homes, more movement, and more opportunity, which is good news,” RE/MAX Holdings CEO Erik Carlson said. “Buyers are finding more options, and sellers are seeing demand. This market is giving people the opportunity to make confident moves.”