Shadow Inventory is Down
The term “shadow inventory” refers to the homes that are “in the wings” or “on deck” to come on the market. This group has been one of great interest to folks tracking and following the real estate market as it is a big indicator of things to come.
There is a company in California named CoreLogic that has spent a great deal of time and energy following this group. According to their most recent numbers, the number is decreasing. According to CoreLogic, the number of homes for the month of July that could be considered shadow inventory was about 1.6 million.
A year ago for that same time period the number was about 1.9 million so, this reflects a 16 percent decrease in that timeframe. That is a good thing. If one wants to look at a little more a recent number, then consider the April shadow inventory number of 1.7 million units.
