By Lisa Sturtevant, PhD
Chief Economist, Bright MLS
Low inventory has made house hunting a challenge for prospective homebuyers. Many current homeowners are holding on to the super low mortgage rates they got during the pandemic, which has meant that the number of new listings coming on the market has been at historically low levels. But there are some places where new listing activity is on the rise. So, where can prospective buyers find more homes to choose from?
The short answer: Florida. Or Texas.
The majority of U.S. metro areas have more inventory now than they did at this time last year. But among the 10 metro areas with the biggest year-over-year gain in supply, four are in Florida—Bradenton-Sarasota, Fort Myers, Palm Bay-Melbourne, and Daytona Beach. (Lakeland-Winter Haven and Orlando were in the 11th and 12th spots.)
In Bradenton-Sarasota and Fort Myers, there were about twice as many active listings available for sale during the week ending March 1 compared to the same time last year.
Metros in Texas are also seeing big year-over-year gains in inventory. In the Dallas region, active listings are nearly 60% higher than they were a year ago. In El Paso, inventory is 55.6% higher now than last year at this time, and inventory in the McAllen region is up by 46.7%.
Many of the regions that are seeing big inventory gains are the same ones that were the most frenzied a year ago. The inventory gains are more likely to reflect an easing of homebuying activity than a surge in new listings.
Top 10 Markets for Homebuyers
Metros with the biggest inventory gains (among 100 largest metropolitan statistical areas)
| Metro Area | Year-over-year Increase |
| Bradenton-Sarasota, FL | 114.3% |
| Fort Myers, FL | 97.7% |
| Dallas-Fort Worth, TX | 58.7% |
| Jackson, MS | 56.7% |
| El Paso, TX | 55.6% |
| Knoxville, TN | 53.6% |
| Palm Bay-Melbourne, FL | 48.7% |
| McAllen-Edinburg-Mission, TX | 46.7% |
| Greensboro, NC | 46.5% |
| Daytona Beach, FL | 45.8% |
Source: Altos Research data analyzed by Bright MLS
Even as inventory increases in 2024, be ready to act fast
This Top 10 list is just a snapshot of inventory at the beginning of March. Seventy of the nation’s 100 largest metropolitan areas have more homes available for sale now than they did a year ago at this time. Supply should increase across most of the country this year, but inventory will remain low by historic standards. If you (like most homebuyers) are not able to chase new listings across the country, be ready to act quickly this year when you find a home you love in your market.
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