Home sales were down an average of 13.3% in the 52 largest U.S. metros, according to the RE/MAX National Housing Report. 

The latest reading of the National Association of REALTORS® Pending Home Sales Index shows a return to month-over-month growth after a decline in July.    

The 716,000 per-year rate of new-home sales topped the consensus estimate of 700,000. 

The 2.5% decline followed a 1.3% increase in July, according to the National Association of REALTORS®. 

The city experienced a 70.1% yearly increase in active inventory, according to the latest RE/MAX National Housing Report.    

Price growth on the national level continued to decelerate on a year-over-year basis.

July’s seasonally adjusted annual rate of 739,000 represented a 10.6% jump from June’s upwardly revised rate of 668,000. 

The pace of home sales increased 1.3% from June after months of decreases, the National Association of REALTORS® said.      

The city also took the top spot among the cities with the lowest average close-to-list-price ratios, according to the most recent RE/MAX National Housing Report.    

The combination of rising inventory and price reductions in Miami and nationwide is creating a more buyer-friendly market.

The National Association of REALTORS® said its Pending Home Sales Index rose 4.8% month over month. 

The median price of a single-family home sold in the county rose for the 150th month in a row, a new record. 

The record-breaking sales price comes as the pace of transactions slid from April, the National Association of REALTORS® said. 

At the same time, inventory also rose in all three South Florida counties.

The S&P CoreLogic Case-Shiller U.S. National Home Price Index has hit a new record for six of the last 12 months, as demand remains strong in the face of tight inventory.

At the same time, the median price of a new home sold in April declined as well.