The housing market has made significant strides in working off a bloated crisis-induced supply of foreclosures, but the “shadow inventory” — the number of homes that are delinquent by 90 days or more, in foreclosure or real estate owned (REO) — is still close to triple a healthy level, CoreLogic reported.

The shadow inventory had dropped by 26.4 percent year over year to 1.7 million homes as of October, while the monthly rate of completed foreclosures in November fell by 29 percent year over year to 46,000, according to the data aggregator. Meanwhile, the number of homes in some stage of foreclosure in November decreased by 34 percent year over year to 812,000, CoreLogic said.

But despite the all-around improvement, the volume of distressed properties is still far above a normal level. CoreLogic said a healthy level of shadow inventory is around 650,000 homes.

Source: CoreLogic

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Inman Connect is LIVE next week! Join us and thousands of your peers from wherever you are.Register Today×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription