Shadow Housing Inventory Down Sharply
New York, NY, March 26, 2013 -- What's known as the shadow inventory of potential housing supply was 2.2 million units in January, down 18% from a year ago and down 28% from its peak, CoreLogic said.
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Shadow inventory is composed of homes that are seriously delinquent, in foreclosure and held as real estate owned by mortgage servicers, but not currently listed on multiple listing services.
"At this point in the recovery, we are seeing healthy reductions across much of the nation," said Anand Nallathambi, president and CEO of CoreLogic, in a press release.