NEW YORK (Reuters) - The number of U.S. homes likely to hit the market soon fell compared to last year due to fewer new delinquencies and a high level of distressed sales, a real estate research firm said on Wednesday.
CoreLogic reported that the so-called shadow inventory of homes in the three months to the end of April declined to 1.7 million homes. That's equivalent to a five months' supply and is down from 1.9 million in the same time frame the year before.
It is also down from the peak level of 2 million homes seen in the three months up to January 2010, CoreLogic said.
Since its collapse, the housing market has remained a drag on the economy and economists say a recovery in the sector can only take place once the overhang of distressed properties is sold off.
More here.
If you or someone you know is considering buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.Visit the 'I Love Deep Creek & Garrett County group' on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!
Posts
No comments:
Post a Comment