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'Shadow inventory' of 2.1 million homes may loom in U.S. market

Los Angeles Times
The number of U.S. homes listed for sale at the end of August plus unlisted shadow inventory totaled 6.3 million, or a 23-month supply, according to CoreLogic, more than three times what economists consider healthy. (Marc Martin, Los Angeles Times / November 22, 2010)

The number of U.S. homes listed for sale at the end of August plus unlisted shadow inventory totaled 6.3 million, or a 23-month supply, according to CoreLogic, more than three times what economists consider healthy. (Marc Martin, Los Angeles Times / November 22, 2010)


The number of properties in foreclosure, with loans 90 days past due or taken back by lenders and not yet listed for sale stood at an eight-month supply at the end of August, three months more than a year earlier.



A supply of 2.1 million homes poised for foreclosure or delinquency potentially looms over the nation's housing market, according to data released Monday.

This "shadow inventory" of residential real estate — property that is in foreclosure, has a loan 90 days past due or has been taken back by a lender and is not yet listed for sale — stood at an eight-month supply at the end of August, according to Santa Ana mortgage research firm CoreLogic, which released the data. That was an increase from 1.9 million, a five-month supply, a year earlier.


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