Shadow Inventory To Peak in Summer of 2010: Barclays

Home First American Sees 1.7m in Shadow Inventory.. Shadow Inventory To Peak in Summer of 2010: Barclays . Jon Prior was a reporter with HousingWire through late 2012.

In July 2012 there were 2.4 million homes in the shadow inventory and at its peak in 2010 there were 3 million. The recent figure represents decreases of 22 percent and 38 percent respectively.

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The stubborn resistance of shadow inventory – six states make up over half of all shadow inventory. 3,000,000 distressed properties sold since January of 2009. There is an interesting trend that continues to be a hallmark of the shadow inventory .

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Median rents, for example, have jumped up from the low of $2,750 in the first quarter of 2010, according to StreetEasy. But at $2,900 as of last month, they are still far lower than the peak of $3,800.

The number of homes thought to be in the shadow inventory has dropped from 3 million at the peak in January 2010 to about 1.7 million in January of this year. Mark Fleming, CoreLogic’s chief.

Barclays Capital speculated last month that non-performing loans (NPLs) may peak in 2010. A few weeks on, and the bank is saying net-charge-offs (NCOs) may have peaked based on US banks’ recent.

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Housing: Been Down So Low, It Looks Like Up to Me. counts another 1.6 million unlisted units in the shadow inventory, news is that the shadow is waning from a peak of two million units in.

According to Barclays Capital, there are currently 2.4 million loans in 90-plus day delinquency and another 2.1 million in foreclosure, totaling 4.5 million in shadow inventory. Barclays says that this inventory should reach the high-point this summer and then fall off, as the market absorbs an estimated 130,000 distressed properties per month.

from its peak of around 69% to the mid60% area, which is close to levels last seen in – 1996 (Figure 3). The numbers are even lower once we strip out seriously delinquent and foreclosed mortgages (shadow inventory). At that point, the real homeownership rate falls to the low 60% range, which we believe is more sustainable.