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Shadow inventory declines to five-month supply: CoreLogic

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CoreLogic reports that housing is seeing a sharp decline in shadow inventory levels, falling under 2 million units in April, representing a 5.3 month supply as shadow inventory levels have dropped.

As of October 2012, 2.3 million housing units still remain in shadow inventory, ""CoreLogic"":http://www.corelogic.com/ reported Wednesday. The total translates into a supply of 7 months. second.

CoreLogic. inventory of new and existing homes that were on the market. The visible months’ supply increased to 15 months in August, up from 11 months a year earlier due to the decline in sales.

The current residential shadow inventory as of July 2011 declined slightly to 1.6 million units, representing a supply of 5 months, CoreLogic reported today. This is down from 1.9 million units, a supply of 6 months, from a year ago, and follows a decline from April 2011 when shadow inventory stood at 1.7 million units.

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Short Sale Soundoff: Shadow inventory continues to decline. – CoreLogic reported this week that the current residential shadow inventory fell to 2.3 million units, representing a supply of six months, as of July. This was a 10.2 percent drop from July 2011, when shadow inventory stood at 2.6 million units, which is approximately the same level the country was experiencing in March 2009.

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The consistent declines of the shadow housing inventory, said CoreLogic CEO Anand Nallathambi, is a promising sign for housing’s recovery. "Broadly speaking, the shadow inventory continued to shrink in July," Nallathambi said. "The reduction is being driven by a variety of resolution approaches.

Because home sales also slowed, the shadow inventory represented eight months of housing supply, up from five months a year ago, CoreLogic said. Weak demand for housing is "significantly increasing.

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Those homes have worried economists and the real estate industry, who fear a sudden influx of supply could. "The shadow inventory continued to drop at double the rate in January from prior-year.

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How To Wholesale Bank Owned Properties[ How To Wholesale Foreclosures Shadow Inventory Slides To 1.7M Units – MortgageOrb – In April, the residential shadow inventory fell to 1.7 million units in April, representing a five-month supply, CoreLogic reports. This is down from 1.9 million units, also a five-month supply, from a year ago. The decline was due to fewer new delinquencies and the high level of distressed sales, which helped reduce the number of [.]

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