Market 'returning to some form of normalcy'
LISLE – Chicagoland's multiple listing service has reported that the October 2012 supply of inventory was down to 4.3 months, while the number of properties under contract had
skyrocketed to 10,364.
The supply-of-inventory figure is the lowest in the past five years, and the monthly under contract numbers are the highest ever, outside of April 2010 when impacted by the Homebuyer Tax Credit.
The supply of inventory indicates how much time in months it would take, at the current rate of houses going under contract, to sell the residential inventory in Midwest Real Estate Data MLS database.
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