shadow inventory - Articles

'Shadow Inventory' Threat Continues to Recede, CoreLogic Says

The number of homes in the "shadow inventory," once considered a serious threat to a real estate recovery, continues to drop as the housing market absorbs foreclosures, analytics firm CoreLogic said in a report it released today. The shadow inventory refers to the pent-up supply of homes that are either in foreclosure or... Continue Reading »

U.S. Home Sales Dip 1.7% on Tight Inventory

WASHINGTON -- U.S. sales of previously occupied homes fell in September after hitting a two-year high in August, in part because there were fewer homes available for sale. The National Association of Realtors said Friday that sales of existing homes in the U.S. dipped 1.7 percent to a seasonally adjusted annual rate of... Continue Reading »

Shadow Inventory Finally Improving Says S&P

The amount of time it would take for the housing market to move through properties lingering in the foreclosure system is finally improving. Standard & Poor's analysts estimate it would take 47 months for the housing market to work through the shadow inventory, according to their second quarter research note. They... Continue Reading »

Shadow Inventory Hurts Luxury Homes, Too

It will take more than three years to sell all the properties having loans that are seriously delinquent, in foreclosure or under REO, says a recent report. This shadow inventory, coupled with a lethargic buying crowd is affecting sellers -- from owners of low-end homes to luxury mansions -- who can't move their... Continue Reading »

Home Sales: Shadow Inventory to Linger

Shadow inventory is casting, well, a shadow over the housing market. With around 7 million homes lurking in the wings on the verge of foreclosure, the inventory of homes waiting to be sold could take more than 40 months to clear. Sales delayed by the recent foreclosure crisis likely will only add to those numbers. For... Continue Reading »

Real Estate Inventory Overflow Threatens Housing Recovery

If you had a crystal ball and could look into the future you could probably answer the question as to how many more foreclosures will happen in the U.S. Since economists don't have that magic ball, they're trying to calculate not only the current shadow inventory (those homes already foreclosed, but not on the market), but... Continue Reading »

North Carolina Foreclosures Near Record, but Tide May Be Turning

Foreclosures in North Carolina are on pace to set a new record of 70,000-plus filings in 2010, eclipsing last year's record of 63,289. By the end of July there were already more than 40,000 filings, according to data analyzed by the North Carolina Justice Center. Foreclosure activity slowed a tad in 2009, after lenders... Continue Reading »

Homeownership Drops to Near 50-Year Lows

Despite months-long speculation that the nation is primed for a housing recovery, homeownership -- a tenet of the quintessential American life -- is far from making a comeback. According to industry projections, millions of homes spiraling toward foreclosure are putting homeownership in jeopardy of its lowest level in 50... Continue Reading »

Home Prices Forecast to Drop Below 2009 Values by Early 2011

It's the kind of rocky horror show that everyone's been fearing. According to Altos Research, home prices will continue to decline through the rest of 2010 and start 2011 slightly lower than in 2009. The main reason for the projected drop is shadow inventory, those homes that have yet to reach the foreclosure stage but are... Continue Reading »

Home Sales Are Up: Bad News in Disguise

Pop the Champagne! Sales of existing homes rose more than expected in April, jumping 7.6 percent from March to 5.77 million units. That means a whopping 22.8 percent more homes were sold than in April of last year, according to the National Association of Realtors. Wait a minute. Hold that cork. It sounds like... Continue Reading »

The Coming Foreclosure Flood

Heartened by the recent rise in home prices? Don't get too comfortable. Standard & Poor's, the credit-rating agency that tells investors what mortgage-backed securities are worth, reports that the increase was just an illusion. It predicts the nation is about to see a deluge of new foreclosures that will drive real... Continue Reading »

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