New listings increased 38.5% in Phoenix last month, according to the latest RE/MAX National Housing Report.

Realtors added 9,415 properties to the market in October, up from 6,800 a year prior. That’s the second-highest annual increase of any major city in the country.

That surge in new listings allowed active inventory to expand 40.1% annually, with 19,308 total properties on the market.

Home sales also increased, with 5,414 homes sold, up from 4,800 in October 2023. That’s a 12.8% jump year over year.

Given the rate of sales, Phoenix had a 3.2-month housing supply in October. That’s up 18.1% from October 2023, when the city had a 2.7-month supply, and up 5.4% from September, when there was a 3-month supply.