While Nevada continues to lead the nation in foreclosure activity, the Silver State has the lowest month's supply of shadow inventory of any state in the nation- 7 month- except for Mississippi. Other high foreclosurestates Arizona ( 9 months) and California ( 11 months) are on the low end of the scale.
New Jersey on the other had, has approx. 51 months of shadow inventory.
"Shadow inventory" is the term that is used for homes that have been repossess by lender s but not placed on the market for sale In terms of raw numbers, New York, Illinois, Florida, California and Texas have the greatest numbers of Shadow inventory.
I am aware of some Shadow inventory in Central Ohio and Clintonville as lenders are waiting to put the repossessed homes on the market.
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