Chicago’s housing market stayed competitive for buyers in July, with fewer listings available compared to the same time last year.

“Chicago is a standalone in that inventory is not accumulating,” Zillow Senior Economist Kara Ng said.

Elsewhere in the country, Ng said, inventory is accumulating and the market has become less competitive.

Chicago is the only metro area among the top 50 in the country to see a year-over-year inventory decline with the number of homes for sale dropping 21.8% compared to July 2024, according to data provided by Zillow. New listings declined by 19.8%, to 1,975 listings.

Ng said the lack of new inventory may be linked to a lack of job mobility.

“Layoffs aren’t bad, but people aren’t hiring and people also aren’t quitting,” she said. “When people are not movi

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