While a tight inventory continues to affect the Florida housing market and drive up median prices, the latest report from Florida Realtors reveals a cause for optimism for buyers: new listings rose, albeit slightly, in January. 

New listings for single-family homes rose 1.1 percent year over year, while new listings for townhouse-condos increased 3.6 percent, according to Florida Realtors.

Meanwhile, the median price for existing single-family homes in January spiked 9.1 percent to $240,000 from January 2017, and the price for a townhouse-condo in that time surged 11.7 percent to $179,900, marking the 73rd consecutive month when prices for both types of homes increased.  

Despite the increase in new listings, inventory around the state is still low, which hampered home sales last month. There were 16,564 home sales in January 2018, a decrease of 1.3 percent from the same time last year. 

“Florida Realtors’ data shows sales of existing single-family homes in Florida were off to a slow start in the first month of 2018,” said Florida Realtors Chief Economist Dr. Brad O’Connor. “However, it’s important to note that there was significant variation in this figure across different markets throughout the state — in fact, single-family home sales were actually up in 10 of the state’s 22 metropolitan statistical areas.”