· The shadow inventory depresses home market value and delays the much needed market rebound. According to CoreLogic, the supply of shadow has dropped to 1.7 million residential units in April. This is down 10.5 percent from this time last year and represents a five-month supply.
CoreLogic reported that for every two homes available for sale today, there is still one in the "shadow," with the current shadow inventory as of January 2012 estimated at 1.6 million units. The numbers, approximately the same level reported in October 2011, represents a 6-months’ supply, down from the 1.8 million units, or 8-months’ supply, reported last January.
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CoreLogic today reported that the current residential shadow inventory (or pending supply) as of April declined to 1.7 million units – a five months’ supply – from 1.9 million units in April 2010. The.
CoreLogic reported Tuesday that the current residential shadow inventory as of July 2011 declined slightly to 1.6 million units, representing a supply of 5 months. This is down from 1.9 million units, a supply of 6 months, from a year ago, and follows a decline from April 2011 when shadow inventory stood at 1.7 million units.
"The stock of seriously delinquent homes, which is the main driver of shadow inventory, is at the lowest level since December 2008," Dr. Mark Fleming, chief economist for CoreLogic said. "Over the last year it has decreased in 42 states by double-digit figures, resulting in rapid declines in shadow inventory for the first quarter of 2013."
According to CoreLogic’s latest report: October’s shadow inventory of 1.6 million homes decreased 16% from 1.9 million units in October 2010. October’s shadow inventory amounts to a five-month supply,
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· The shadow inventory, which some analysts believe could impact the housing recovery when the properties hit the market, represented $239 billion in homes, a 3.7 months of supply, the firm estimates. "Over the past year, the value of the U.S. shadow inventory dropped by $87 billion–a sign of increased normalcy in the housing market," CoreLogic.
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The pending supply of homes, also known as shadow inventory, fell to 2.3 million units as of the end of July, down 10.2 percent from 2.6 million units a year ago and at the same level as March 2009,
CoreLogic: Shadow housing inventory declines The nation’s shadow inventory – the pending supply of seriously delinquent (90-plus days) and distressed homes that will eventually make their way to the market – dropped 10.2 percent in July compared to a year ago, according to CoreLogic’s latest report .