First American Sees 1.7m in Shadow Inventory

Kitbull | Pixar SparkShorts Shadow inventory and why its important for Sellers in Denver. Before we talk about Shadow Inventory we have to look at what the definition of inventory is.Inventory in real estate terms is the current number of homes that are actively on the market. When we Realtors talk about inventory, we like to express it in the number of months.

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This doesn’t include the amount of homes falling into the shadow inventory of foreclosure. Some data providers like First American CoreLogic speculate that number could be as high as 1.7m as the roadblocks of the government incentive programs and moratoriums clog the foreclosure pipeline.

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First American estimated that the inventory not yet on the market constituted a 3.3-month supply at the end of the third quarter, up from 2.4 months a year earlier. The number of homes for sale was 3.8 million, a 7.8-month supply at the current sales pace, First American said. That’s down from 4.7 million, or a 10.1-month supply, a year earlier.

US Foreclosures Cast Increasingly Long "Shadow Inventory" I continue to reiterate that as long as mortgage delinquencies increase, we will experience a subsequent increase in foreclosures, in turn excessive housing supply, and a weak housing market.

(Bloomberg) — The number of homes that may be in the pipeline for a sale because of foreclosure and delinquency climbed about 55 percent to 1.7 million at the end of September, according to estimates by First American CoreLogic. The "shadow inventory" rose from 1.1 million a year earlier.

For those two reasons, buyer demand will wane after the first quarter of next year. That’s the demand side of the equation. Now let’s look at the supply side. SUPPLY. A term you have probably heard on the television or read in the newspaper recently is ‘shadow inventory’. That will be a key component to the home pricing equation throughout next.

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Standard and Poor’s, Amherst Securities, The Royal Bank of Scotland, and First American CoreLogic all agree shadow inventory is a major problem for the US housing market. Today, we also have a Grade D HELOC abuser hoping to sell while they still have equity.