Foreclosure shadow inventory will take more than 40 months to clear: Fitch

Fitch Ratings puts the industry’s shadow inventory – meaning loans that are seriously delinquent, in foreclosure, or REO – at 7 million homes. The agency says based on recent liquidation trends, it will take more than 40 months to clear this distressed inventory.

investors began taking note of falling home prices and rising inventories of bank owned. raised or spent and more than 150,000 homes were in the hands of institutional. By the end of 2013 three Real Estate Investment Trusts existed with a market. This can be seen clearly within the construction industry 'starts' data.

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At current rates of sale, it would take more than 18 months to clear both the visible and shadow inventory, according to Capital Economics. Jed Smith, managing director of quantitative research with the National Association of Realtors (NAR), says he’s seen a leveling off of distressed properties at the multiple listing service (MLS) level in.

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The shadow inventory of delinquent loans, foreclosures, and REOs stands at 7 million homes, which would take the market more than 40 months to clear, more than three years, according to Fitch Ratings.

THE ULTIMATE FORECLOSURE FIND!  · In April, the supply of homes rose to nearly 3.9 million. At last month’s sales pace, it would take more than 9 months to clear those homes. Analysts say a healthy supply can be cleared in six months.

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