CoreLogic Reports Shadow Inventory Down 18% YoY

CoreLogic CLGX, a leading residential property information, analytics and services provider, reported today that the overall shadow inventory is down 28 percent from its peak in January 2010, when it reached 3 million homes. Current residential shadow inventory as of January 2013 was at 2.2 million units, representing a supply of nine months. This figure represents an 18-percent drop from January 2012*, when shadow inventory stood at 2.6 million units. To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/56998-corelogic-reports-shadow-inventory-down-28-percent-from-2010-peak CoreLogic estimates the current stock of properties in the shadow inventory, also known as pending supply, by calculating the number of properties that are seriously delinquent, in foreclosure and held as real estate owned (REO) by mortgage servicers, but not currently listed on multiple listing services (MLSs). Transition rates of "delinquency to foreclosure" and "foreclosure to REO" are used to identify the currently distressed unlisted properties most likely to become REO properties. Properties that are not yet delinquent, but may become delinquent in the future, are not included in the estimate of the current shadow inventory. Shadow inventory is typically not included in the official reporting measurements of unsold inventory.