January 2, 2013
CAN'T BUILD FAST ENOUGH:
Supply of 'shadow' homes declines again (Alejandro Lazo, January 2, 2013, LA Times)
House hunters looking for bargain properties in the new year will probably be disappointed.A new report by Santa Ana firm CoreLogic shows pending home supply declined again in October. This shadow inventory fell 12.3% from the year prior to stand at 2.6 million units, or a supply of about seven months. [...]"The size of the shadow inventory continues to shrink from peak levels in terms of numbers of units and the dollars they represent," CoreLogic Chief Executive Anand Nallathambi said in that release. "We expect a gradual and progressive contraction in the shadow inventory in 2013 as investors continue to snap up foreclosed and REO properties and the broader recovery in housing market fundamentals takes hold."
Posted by Orrin Judd at January 2, 2013 5:03 PM
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