The Shadow Market is Declining. Find Out Why.
In this article from CBSNews - Roughly 2.3 million homes are in the shadow market, according to a report by data and analytics firm CoreLogic, which marks a considerable drop from where the inventory of these properties stood a year earlier. The current supply of pending foreclosures equates to a roughly six-month supply, the report indicates. The level of these properties in July 2011 was 2.6 million units. One million of the 2.3 million shadow inventory units are seriously delinquent, according to the report. Additionally, roughly 900,000 of the homes are in some stage of foreclosure, while the remaining 345,000 are real estate-owned.
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