Phoenix saw the third-highest increase in new listings in April among the top 50 U.S. metros, RE/MAX reported in its National Housing Report.
The market saw a 32.7% year-over-year jump in new inventory, which rose from 7,044 homes in April 2023 to 9,349 last month.
Bozeman, Montana and Omaha, Nebraska took the top two spots, respectively.
Nationwide, new home listings were up 18.2% year over year and 6.3% month over month.
Other metrics also point to a healthy spring season, with national April closings up 11.2% over March and 9% over last April. The number of homes for sale was up 6.3% month over month and 28.8% year over year.
“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.”