U.S. housing market’s ‘shadow inventory’ slips
6/23/2011CHICAGO — 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.