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Housing Inventory Rises in August – What of Here in Chicago?

by Peter Thomas Ricci

Housing inventory seems to have finally turned the corner nationally, but what of here in Chicago?

housing-inventory-august-chicago-miami-houston-housing-recovery

The nation’s inventory of housing has been a major topic of conversation among analysts and real estate professionals alike this year, but if the latest data from Realtor.com is any indication, we may soon be finding something else to talk about.

Nationally, housing inventory was up 0.93 percent from July to August, a gain that, though small, represents a substantial change of pace for the nation’s housing stock, which fell by double-digits through 2012 and early 2013. Also, inventory in August was down just 2.5 percent from last year, the smallest yearly decline for inventory this year.

How did those national numbers, though, compare with our local housing market in Chicago? Is housing inventory on the rise here, or are we still seeing declines? Consult our infographic below to find out:

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