Miami housing inventory surges in August

Miami’s home inventory saw some of the greatest growth in the nation in August, according to new data from Homes.com.

The real estate company compiled housing data from the 40 largest U.S metros, ranking them based on inventory growth during the month.

Miami’s housing supply increased by 5,549 homes in August, marking a 34.6% gain from the same month last year. That’s the fourth-largest increase in the nation by home count, after Houston, Atlanta and Dallas-Fort Worth.

“Regionally, many of the highest inventory growth markets were in the Sun Belt and parts of the West, while most of the Midwest and Northeast continued to lag,” researchers said. “In August, just the top three markets by inventory growth – Houston, Atlanta and Dallas – accounted for 10% of the increase in homes for sale in the U.S. compared to a year ago.”