The never ending pipeline of shadow inventory – 1,800,000 homes in foreclosure while another 2,000,000 are underwater by 50 percent. No housing recovery without clearing out shadow inventory and expanding real household wages.
a shadow over the housing market. With around 7 million homes lurking in the wings on the verge of foreclosure, the inventory of homes waiting to be sold could take more than 40 months to clear. Sales.
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· With around 7 million homes lurking in the wings on the verge of foreclosure, the inventory of homes waiting to be sold could take more than 40 months to.
New home sales fell 7% in December New home sales were at a seasonally adjusted annual rate of 621,000 as of the end of December, an increase of 3.7% compared with November but down 2.4% compared with December 2017, according to the latest figures from the U.S. Census Bureau and U.S. Department of Housing and Urban Development.
I suspect the fines that Sandicor is handing out will take care of this in the next month or two. That will mean a 20-40 percent. of reverse-shadow inventory: homes that are showing up in the.
It’s clear we are in the healing process. notices of default, the first step in the foreclosure process, are likewise on a downward trajectory, which presages fewer foreclosures ahead. Fewer than.
Shadow inventory is estimated at more than 7 million. Analysts expect it will take more than 40 months for the distressed properties to even hit the market.. But Fitch shows a more than 50.
This “shadow inventory” – the backlog of properties that are 90 days or more delinquent, in foreclosure. the most recent Fitch Inc. data. That number is not expected to decline soon. Analysts.
Buyers closed on 1,458 single-family homes last month – nearly as many as in July, and a whopping 34 percent more than November’s total. Winter usually is a slow season for home sales. They typically peak in summer, then tail off as days get shorter.
As servicers rise out of the paralysis caused by regulatory issues, they are able to take necessary steps to clear out aging loans in shadow inventory, according to a report from Moody’s Investors Service. In the report, Moody’s revealed the number of loans in foreclosure shadow inventory, or loans in the process of foreclosure but with no resolution, decreased from Q2 to Q3, with the.
· However, the figure is still more than double the total filed in September 2008. The number of trustee deeds was down more significantly with a 15-percent month-to-month decline. While 1,156 trustee deeds is a high one-month total from a historical standpoint, it is 41 percent lower than the number recorded in September 2008.