(Save the Date: RealShare Orange County 2012 comes to the Hyatt Regency, Irvine, August 16.)
SANTA ANA, CA-Recent CoreLogic research shows that the current residential shadow inventory as of April 2012 fell to 1.5 million units, representing a supply of four months. This was a 14.8% drop from April 2011, when shadow inventory stood at 1.8 million units, or a six-months' supply, which is approximately the same level as the country was experiencing in October 2008.
Currently, the flow of new seriously delinquent (90 days or more) loans into the shadow inventory has been approximately offset by the equal volume of distressed (short and real estate owned) sales. CoreLogic estimates the current stock of properties in the shadow inventory, also known as pending supply, by calculating the number of distressed properties that are seriously delinquent, in foreclosure and held as real estate owned by mortgage servicers but not currently listed on multiple listing services.
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