Shadow Inventory Decline Continues, Currently at 7.2 Month Supply

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Posted To: MND NewsWire

The residential shadow inventory of distressed homes continues to shrink according CoreLogic's monthly report for October. The improvement is across all metrics; number of units, months supply, dollar volume and transition rates. The inventory as of October was 2.29 million units or a 7.2 month supply at the current absorption rate. The number of units in the inventory represented a 12.3 percent decrease from October 2011 when the inventory consisted of 2.62 million units, an 8.6 month supply. The volume of the inventory in October was $376 billion, down from $3.99 billion a year earlier. In September the inventory stood at 2.31 million units or a 7.7 month supply. The shadow inventory represents the number of properties that are seriously delinquent, in foreclosure, or in bank inventories...(read more)

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Source: http://www.mortgagenewsdaily.com/01022013_foreclosures_shadow_inventory.asp

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