Riddle me this: How can home sales grow when we have no homes to buy?When a monthly home sales print fails to meet expectations the excuse often used is that inventory is too low to meet the demand.
Foreclosures Slow But Nearly 2M Homes In Serious Delinquency
On a month-over-month basis, completed foreclosures decreased 13.1% from 50,000 in January 2014.
In all of 2013, CoreLogic’s numbers shows that 4 million homes returned to positive equity, bringing the total number of mortgaged homes with equity to 42.7 million at the start of 2014.
Nearly 6.5 million homes, or 13.3% of all residential properties with a mortgage, were still in negative equity at the end of 2013.
“Although there is good news that completed foreclosures are trending lower, the bigger news is the impressive decline in the foreclosure and shadow inventories,” said Mark Fleming, chief economist for CoreLogic. “Every state has had double-digit, year-over-year declines in foreclosure inventory, which is reflected in the $70 billion decline in the shadow inventory.” Read More Here...
For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....
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