Morning Minute: Housing inventory continues to decline

The inventory of U.S. homes for sale continued to fall in June, declining 19 percent from a year earlier, according to a Realtor.com housing survey. Inventory dropped in all but three of the 146 markets covered by Realtor.com. The trend also held true in Chicago, which saw a 19.6 percent decline. From the Realtor.com release:

“Low inventories, combined with steadily rising list prices are positive signs that the overall market is gaining traction and is entering a recovery mode.”

In other news:

Housing starts up 6.9 percent in June, highest rate in four years. (USA Today)

To aid economy, Bernanke urges Congressional action on budget impasse. (BusinessWeek)

 

 

This entry was posted in Consumer Information, Housing Market, Uncategorized by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.