Total inventory is the number of homes available for sale at the end of each month for existing and new homes — a very good indicator of housing demand. Thus, its movement can give good insight into the health of a housing market.
Best: Lousiville, Ky.
The lowest inventory for the month of September was again in Louisville. The number fell from 83 homes on the market at the beginning of the month to 79 at the end of the month — significantly lower than the average inventory of more than 3,000.
So few homes hitting the market is good news because it means those up for sale are in high demand — which is also evident by the city’s above-average median list price.
The bottom of this list didn’t budge month-over-month either: The last-place slot still goes to The Windy City. Total inventory was more than 10,200 homes in August. The good news is that the total fell by around 300 homes for the past two months.
The bad news, of course, is that the five-digit total is still more than three times the average for all cities. Such an oversupply is part of the reason the median list price for the city is still wallowing well-below average.