Thursday, December 17, 2009

Shadow Inventory of Housing Rises Sharply

Calcuated Risk reports: "From Bloomberg: ‘Shadow Inventory’ of U.S. Homes Climbs, Report Says'"

"The number of homes that may be in the pipeline for a sale because of foreclosure and delinquency climbed about 55 percent to 1.7 million at the end of September, according to estimates by First American CoreLogic.
“While the visible month’s supply has decreased and is beginning to approach more normal levels, adding in the pending supply reveals there is still quite a bit of inventory that will impact the housing market for the next few years,” First American said.

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