Shadow Inventory Declines

According to nationalmortgagenews ,CoreLogic says residential shadow inventory as of July 2012 dropped to 2.3 million units from 2.6 million units a year ago, a decline of 10.2 percent. Of the 2.3 million, one million are seriously delinquent, 900,000 are going thru foreclosure, and 345,000 are already real estate owned (REO). “This is yet another hopeful sign that the housing market is slowly healing,” said Anand Nallathambi, president and CEO of CoreLogic. As MHProNews has learned, Florida, California, Illinois, New York and New Jersey account for 45% of all distressed properties in the country.

(Image credit: FloridaForeclosuresDefenseLawyer)

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