Shadow Inventory Jumps 10 Percent from a Year Ago
Shadow Inventory Jumps 10 Percent from a Year Ago
Shadow Inventory Jumps 10 Percent from a Year Ago
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November 22 2010 (Shirley Allen)
bumpy road ahead sign
In a report released today by CoreLogic, shadow inventory of residential property as of August 2010, reached 2.1 million units. At current sales rates, that translates into an eight months worth of supply, up from 1.9 million, or a five-month’s supply, from one year earlier. With visible inventory remaining flat at 4.2 million units, the change in shadow inventory increased the total supply of unsold inventory by 3 percent.

Shadow inventory, also known as pending supply, is the number of properties that are seriously delinquent (90 days or more) that are in foreclosure and real estate owned (REO) by lenders but is not yet listed on multiple listing services (MLS’s).

According to the CoreLogic’s report, the supply of visible unsold inventory at the end of August 2010 was 4.2 million units, which matches the amount of unsold inventory from a year ago. The visible inventory measures the unsold inventory of new and existing homes that were on the market. The visible months’ supply increased to 15 months in August, up from 11 months a year earlier due to the decline in sales during the last few months.

The total visible and shadow inventory was 6.3 million units in August, up from 6.1 million a year ago. Based on the current sales rates, the total months’ supply of unsold homes was 23 months in August, up from 17 months a year ago.

Typically a reading of six to seven months is considered normal so the current total months’ supply is roughly three times the normal rate.

Tags: shadow inventory, unsold inventory, pending supply, new and existing homes, visible inventory, foreclosures

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November 22 2010 (Shirley Allen)
bumpy road ahead sign
In a report released today by CoreLogic, shadow inventory of residential property as of August 2010, reached 2.1 million units. At current sales rates, that translates into an eight months worth of supply, up from 1.9 million, or a five-month’s supply, from one year earlier. With visible inventory remaining flat at 4.2 million units, the change in shadow inventory increased the total supply of unsold inventory by 3 percent.

Shadow inventory, also known as pending supply, is the number of properties that are seriously delinquent (90 days or more) that are in foreclosure and real estate owned (REO) by lenders but is not yet listed on multiple listing services (MLS’s).

According to the CoreLogic’s report, the supply of visible unsold inventory at the end of August 2010 was 4.2 million units, which matches the amount of unsold inventory from a year ago. The visible inventory measures the unsold inventory of new and existing homes that were on the market. The visible months’ supply increased to 15 months in August, up from 11 months a year earlier due to the decline in sales during the last few months.

The total visible and shadow inventory was 6.3 million units in August, up from 6.1 million a year ago. Based on the current sales rates, the total months’ supply of unsold homes was 23 months in August, up from 17 months a year ago.

Typically a reading of six to seven months is considered normal so the current total months’ supply is roughly three times the normal rate.

Tags: shadow inventory, unsold inventory, pending supply, new and existing homes, visible inventory, foreclosures

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
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November 22 2010 (Shirley Allen)
bumpy road ahead sign
In a report released today by CoreLogic, shadow inventory of residential property as of August 2010, reached 2.1 million units. At current sales rates, that translates into an eight months worth of supply, up from 1.9 million, or a five-month’s supply, from one year earlier. With visible inventory remaining flat at 4.2 million units, the change in shadow inventory increased the total supply of unsold inventory by 3 percent.

Shadow inventory, also known as pending supply, is the number of properties that are seriously delinquent (90 days or more) that are in foreclosure and real estate owned (REO) by lenders but is not yet listed on multiple listing services (MLS’s).

According to the CoreLogic’s report, the supply of visible unsold inventory at the end of August 2010 was 4.2 million units, which matches the amount of unsold inventory from a year ago. The visible inventory measures the unsold inventory of new and existing homes that were on the market. The visible months’ supply increased to 15 months in August, up from 11 months a year earlier due to the decline in sales during the last few months.

The total visible and shadow inventory was 6.3 million units in August, up from 6.1 million a year ago. Based on the current sales rates, the total months’ supply of unsold homes was 23 months in August, up from 17 months a year ago.

Typically a reading of six to seven months is considered normal so the current total months’ supply is roughly three times the normal rate.

Tags: shadow inventory, unsold inventory, pending supply, new and existing homes, visible inventory, foreclosures

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.