‘s Effect On Home Prices?
Home sale numbers are still weak, but there is a silver lining to this cloud. Shadow inventory (the number of foreclosed, bank owned homes not on the market) is finally showing some signs of stabilizing. According to the most recent report from CoreLogic, shadow inventory in January is about the same (1.6 million homes) as it was in October of 2011. This is a 200,000 unit decrease from a year ago. “Almost half of the shadow inventory is not yet in the foreclosure process,” said Mark Fleming, chief economist for CoreLogic. “Shadow inventory also remains concentrated in states impacted by sharp … Read more