Shadow Inventory Back to 2009 Levels: CoreLogic

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Posted To: MND NewsWire

The nation's shadow inventory dropped to 2.3 million housing units in July, down 10.2 percent from where it stood one year earlier. According to CoreLogic's report on the subject, released this morning, in the same month in 2011 the inventory was 2.6 million units. The dollar volume of the inventory in the most recent month was $382 billion compared to $397 billion the year before. The shadow inventory has now returned to the approximate level of March 2009. The current inventory represents a 6.3 month supply. CoreLogic estimates the current stock of properties in the shadow inventory or pending supply by calculating the number of properties that are seriously delinquent, in foreclosure, or held as real estate owned (REO) by banks by not currently listed by multiple listing services. The July...(read more)

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Source: www.mortgagenewsdaily.com

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