‘Shadow Inventory’ of U.S. Homes Totals Nine-Month Supply
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About 1.8 million homes that are delinquent or in foreclosure loom as additional supply for the struggling U.S. housing market, according to CoreLogic Inc.
The so-called shadow inventory amounted to a nine-month supply of properties as of January, about the same as a year earlier, the Santa Ana, California-based real estate data service said in a report today. The company measured homes ranging from 90 days delinquent on mortgages to properties seized by lenders in foreclosure proceedings.