While aspiring American homeowners struggle over limited stock, rising prices, and soaring mortgage rates, some states nationwide are proving increasingly popular for sellers. And for those looking for new homes, Arizona is the state with the seventh-highest rate of new home listings.
Luxury real estate experts Los Feliz analyzed the volume of new property listings in each state from January 2020 until June 2023, revealing which states had the best availability rate of new homes per 100,000 households.
Florida topped the list, accumulating 1.7 million new property listings over the period at a rate of 20,665 per 100,000 homes. On average, homebuyers in the sunshine state have access to 42,365 new listings per month. This news comes as Florida was named the worst place for inflation in the United States according to new data from the Bureau of Labor Statistics, with Miami and Tampa ranking in the top three for highest inflation across the country.
Idaho took second place, with 19,427 new home listings per 100,000 properties. Homeowners in the state have been some of the most active on the property market over the last three years. June 2022 proved the most popular month to sell property in Idaho, with 4,958 homes entering the market. During this period, the median listing price was $584,995, just short of the peak housing boom median of $604,995 in May 2022.
South Carolina ranked third for new property listings, totaling 377,328 since January 2020 at a rate of 18,406 homes per 100,000 households. With lower housing prices and a reduced cost of living compared to the national average, South Carolina is becoming an increasingly sought-after destination for many homebuyers. On average, 8,934 new homes are listed in the state every month.
Nevada and Utah rounded out the top five with 18,406 and 18,162 new home listings per 100,000 households, respectively. Buyers seeking new property investment can access an average of 5,152 new listings a month in Idaho, with around 4,636 available in Utah.
Arizona was named the state with the seventh-highest rate of new home listings. Despite the number of new property listings falling year-on-year, the state still ranks high with an average of 17,370 new homes per 100,000 households.
Colorado, Georgia, Delaware, and Tennessee topped off the list of states with the highest rate of new home listings.
New property listings appear most frequently in the South and West of America, with no Northeast or Midwest states ranking among the top spots. Those living in the South have the most average new listings available per month with 172,280. In comparison, 89,644 new monthly listings are launched on the market in the East, with 82,669 in the Midwest and 58,285 in the Northeasterly states.
A spokesperson from Los Feliz commented on the findings: “While the number of new property listings have fallen since a rise in market activity last year, an average of 412,327 new property listings are still available to American buyers each month.”
“Some buyers are choosing to bite the bullet and sell while inflation rates are sky-high, while others are searching for housing in lesser populated areas to help survive the ongoing cost-of-living crisis.”