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shadow inventory

Shadow Inventory Forecast as Manageable in 2013

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CoreLogic has reported that the current residential shadow inventory as of October 2012 fell to 2.3 million units, representing a supply of seven months.Click to continue

Freddie Mac Expects Rates to Rise in Q3 of 2013

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Freddie Mac has released its U.S. Economic and Housing Market Outlook for December showing what some of the market features are expected to look like in 2013. Freddie Mac says to look for long-term mortgage rates to remain near their record lows for the first half of 2013, then rising gradually during the second half of the year, but remaining below four percent. Property values are also expected to continue to strengthen with most U.S.Click to continue

HUD Set to Sell Nearly 40,000 Distressed Loans in 2013

For Sale Sign in the Snow

As part of a broad based effort to address the housing market’s “shadow inventory” and to target relief to communities experiencing high foreclosure activity, the U.S. Department of Housing & Urban Development (HUD) has announced preliminary results from the first loan sale under its expanded Distressed Asset Stabilization Program (DASP).Click to continue

U.S. Shadow Inventory Continues to Decline in July, Currently at 2.6 Million Units

Shadow Home/Credit: Comstock

CoreLogic has reported that the current residential shadow inventory nationwide as of July 2012 fell to 2.3 million units, a total supply of six months—a 10.2 percent drop from July 2011, when shadow inventory stood at 2.6 million units, which is approximately the same level the country was experiencing in March 2009. Currently, the flow of new seriously delinquent (90 days or more) loans into the shadow inventory has been roughly offset by the equal volume of short sales and real estate-owned (REO) sales.Click to continue

Freddie Mac: Housing Recovery May be Coming Out of the Shadows

Shadow Home/Credit: Comstock

Freddie Mac has released its U.S. Economic and Housing Market Outlook for August showing why shadow inventory might not be as foreboding as many thought and an important reason why is the rate at which excess housing is being absorbed. The Freddie Mac House Price Index for the U.S. showed a 4.8 percent gain from March to June 2012, the largest quarterly pickup in eight years; the national index posted a June-to-June rise of one percent, the largest annual appreciation since November 2006.Click to continue

Home Sale Prices See 1.3 Percent Monthly Climb in June

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CoreLogic has released its June Home Price Index (HPI) report which found that home prices nationwide, including distressed sales, increased on a year-over-year basis by 2.5 percent in June 2012 compared to June 2011. On a month-over-month basis, including distressed sales, home prices increased by 1.3 percent in June 2012 compared to May 2012. The June 2012 figures mark the fourth consecutive increase in home prices nationally on both a year-over-year and month-over-month basis.Click to continue

Nationwide Shadow Inventory Drops to Levels Last Seen in 2008

Shadow Home/Credit: Comstock

CoreLogic has reported that the current residential shadow inventory as of April 2012 fell to 1.5 million units, representing a supply of four months. This was a 14.8 percent drop from April 2011, when shadow inventory stood at 1.8 million units, or a six-months' supply, which is approximately the same level as the country was experiencing in October 2008. Currently, the flow of new seriously delinquent (90 days or more) loans into the shadow inventory has been approximately offset by the equal volume of distressed (short and real estate-owned) sales.Click to continue

Home Sales Seeing Continued Rebound With 3.4 Percent Rise in April

For Sale/Credit: Stockbyte

Existing-home sales rose in April and remain above a year ago, while home prices continued to rise, according to the National Association of Realtors (NAR). The improvements in sales and prices were broad based across all regions. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 3.4 percent to a seasonally adjusted annual rate of 4.62 million in April from a downwardly revised 4.47 million in March, and are 10 percent higher than the 4.20 million-unit level in April 2011.Click to continue

Sixty-Plus Markets See Year-to-Year Drop in Foreclosure Rates

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CoreLogic has released its National Foreclosure Report for February, which provides monthly data on completed foreclosures, foreclosure inventory and 90-plus-day delinquency rates. There were approximately 65,000 completed foreclosures in February 2012, compared to 66,000 in February 2011, and 71,000 in January 2012. The number of completed foreclosures for the 12 months ending in February was 862,000. From the start of the financial crisis in September 2008, there have been approximately 3.4 million completed foreclosures.Click to continue