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Published: Thursday, 6/23/2011

U.S. housing market’s ‘shadow inventory’ slips


CHICAGO — A smaller number of mortgage delinquencies and increased sales of distressed properties meant the housing market’s “shadow inventory” slipped to 1.7 million homes in April, compared with 1.9 million properties a year ago, data provider CoreLogic said Wednesday.

Still, the number represents a five-month supply of homes nationally that are not yet listed as available for sale, a statistic that translates into continued pressure on the traditional real estate market.

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