Total inventory is the number of homes available for sale at the end of each month for existing and new homes, including single-family homes, townhomes, condominiums and co-ops.
Homebuilders keep a close eye on this statistic because it’s a very good indicator of housing demand, and its movement can give insight into the health of a housing market.
Best: Lousiville, Ky.
The lowest inventory can be found in Lousiville, where in July and August the number was a mere 62 homes. So few homes hitting the market means those up for sale are in high demand — evident by the city’s above-average median list price.
In Chicago, on the other hand, total inventory was more than 10,600 homes in August — just over three times the average for all cities and even after falling by around 300 from July. Such an oversupply is part of the reason the median list price for the city has dropped below $200,000 — well below average.