Arizona ranks as having some of the most new property listings in the U.S.
Luxury real estate experts Los Feliz conducted an analysis of new property listings in each state from January 2020 to June 2023 to determine which states had the best availability rate of new homes per 100,000 households.
In this analysis, Arizona emerged as the seventh-highest state for new home listings, boasting an impressive average of 17,370 new homes per 100,000 households. Despite witnessing a decrease in the number of new property listings each year, Arizona continues to attract potential buyers with its robust real estate offerings.
Florida took the top spot, where a staggering 1.7 million new property listings surfaced during the period. Homebuyers in the sunshine state have access to an average of 42,365 listings per month. Despite being named worst for inflation in the U.S., according to data from the Bureau of Labor Statistics, Florida still has an average of 20,665 home listings per 100,000 houses.
“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,” says a spokesperson from Los Feliz.
Securing the second spot is Idaho, boasting 19,427 new home listings per 100,000 properties. Idahoans have demonstrated tremendous activity in the property market over the past three years. The most opportune time to sell property in Idaho was June 2022, with 4,958 new homes entering the market. During this period, the median listing price was $584,995, compared to the peak housing boom median of $604,995 in May 2022.
South Carolina secures the third rank, presenting 377,328 total property listings since January 2020, amounting to 18,406 homes per 100,000 households. With more affordable housing prices and cost of living compared to the national average, South Carolina is increasingly becoming a sought-after destination for homebuyers. The state witnesses an average of 8,934 new homes listed each month.
Nevada and Utah take the fourth and fifth spots, respectively, with 18,406 and 18,162 new home listings per 100,000 households. Buyers in these states enjoy approximately 4,636 new listings available for property investment each month, slightly trailing behind Idaho’s 5,152 listings.
Also noteworthy are Colorado, Georgia, Delaware and Tennessee, rounding out the top 10 spots for new property listings.
“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,” says a spokesperson from Los Feliz.
The data reveals a pattern of new property listings predominantly appearing in the South and West regions of the United States. Notably, Northeast and Midwest states are absent from the top spots, with significantly fewer average monthly listings of 89,644 and 82,669, respectively, in comparison to the South’s impressive 172,280.
