Inventory of foreclosed homes decreases during April
June 24th, 2011 9:19am
| Share This |  |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
 |
 |
 |
Recent data compiled by CoreLogic revealed a reduction in the country's pre-sale foreclosed inventory during April.According to the report, 1.8 million homes entered the foreclosure process during the month - down 18 percent from its peak - as fewer mortgages became delinquent and an increasing number of distressed properties were sold.
If the current sales trends continue, the "shadow inventory" will run out in roughly five months, the report states. This inventory is often viewed as a barometer for the national real estate market's health, as foreclosures can lead to reduce home prices and weakened confidence among potential homebuyers.
"It's showing there are improvements in some segments of the market," Sam Khater, CoreLogic's chief economist, told Reuters. "It doesn't mean housing distress is over, but it does show that the pipeline of distress is beginning to ease."
Foreclosures are affecting the Houston real estate market less each month, according to a recent report from the Houston Association of Realtors. During May, 19.8 percent of all home sales involved distressed properties, down from 22 percent in April and 23.5 percent in March.
Courtesy of 2M Realty News
Related News Articles in Foreclosures
- Mortgage delinquencies move lower in January
According to Lender Processing Services, the total U.S. loan delinquency rate fell to 7 percent in January, down from 9 percent in December and from 8.3 percent during the same month in 2012March 11th, 2013 6:03am - MBA: Foreclosures hit four-year low
Fewer people experienced foreclosure in the final three months of 2012, according to a new report from one of the foremost real estate industry sources.February 28th, 2013 3:52am - Scant number of Texas homes in negative equity
When it comes to percentages and how many properties were underwater in the U.S. last year., Houston homes were on the good list.January 28th, 2013 5:05am - Texas foreclosure activity declines, but still elevated
Foreclosure activity has had a much smaller effect on Houston real estate than in many of parts of the country.December 3rd, 2012 10:42am - National foreclosure inventory declines
The national foreclosure inventory thinned in August to the lowest level seen since the middle of 2010, which could be an indicator that the housing market recovery is well underway.October 5th, 2012 9:58am
My Account
Log in, to view your saved searches and add to your favorite listings.
Forgot your password? Click here!
... So You Can:
- View detailed property information
- Print detailed property flyers
- Save your searches & favorite homes
- Inquire about a private showing
- Map individual property locations
- Share your favorite homes with friends
