he inventory of MLS-listed Chicago-area homes available for sale in May has declined sharply on a year-over-year basis in each of the last 3 years, according to National Association of Realtors data reported by Calculated Risk.
The number of active listings in May of 2011, 2010 and 2009 declined 11.5%, 13.9% and 27.9%, respectively, over the previous year. That equates to a 45% overall decline in active listings from May 2008 to May 2011.
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