Housing Inventory Down 10% Over 2007

As reported by The Wall Street Journal, quoting data from the National Association of Realtors, housing inventories are down over last year. Typically we see a slow down at this time of year, and the slow down isn't too bad. In reviewing the 3rd quarter statistics for 2007 and 2008, from the Chicago Association of Realtors, the sales volume for Lincoln Park, Lakeview, Bucktown and Wicker Park are all down for single family homes and condominiums ranging from 10% to 30%. However, in comparing 3rd quarters for '07 and '08, average sale price went up in some cases, and went no lower than 4%. Real estate is a local.