Months Shadow Inventory
Shadow Inventory always a hot topic . Previous reports showed the inventory of “not on the market” homes that need to be sold is growing at a disheartening pace.
What hurts so much about the growing inventory of homes that have yet to reach the market is the known fact that we have such a large volume of homes that failed to sell in the past and are currently not back on the market. That means that no matter what you read about the Shadow inventory of homes, the reality is actually going to be worse than the reports.
When we go about defining shadow inventory, we should consider that it is a phrase used to describe “homes for sale" that are not on the market. These listings that are lingering in the shadows/pipeline include:
- Homes in the foreclosure process -pre-foreclosure
- REO homes unlisted foreclosures -Bank Owned
- Unlisted Homes that previously failed to sell - Auction
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