"The market saw a 31.2% year-over-year jump in new inventory, which rose from 9,555 in April 2023 to 12,540 last month. This helped drive a 54% year-over-year jump in months’ supply, which rose from 2.5 months to 4.1 months." (Article link below.)
https://southfloridaagentmagazine.com/2024/05/17/miami-ranks-no-4-in-u-s-for-new-listings/