Industry NewsMarkets & Economy

Real estate shadow inventory dips in January

CoreLogic: 9-month supply of distressed properties, REOs
Published on Mar 30, 2011

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by CareyBot

The "shadow inventory" of distressed and bank-owned homes likely to end up on the market totaled 1.8 million homes in January, down slightly from 2 million at the same time a year ago, data and analytics provider CoreLogic said.

At the rate homes were selling in January, that represents a nine-month supply of inventory, CoreLogic said in its latest shadow inventory report -- about the same as a year ago. There are another 2 million "upside down" homes with more than 50 percent negative equity that are likely to end up as shadow supply, the report said.

"While the trend of the shadow ...