While browsing the Web, I ran across some interesting statistics from CoreLogic. The quarterly report on housing indicates that "visible" inventory, which includes new and existing homes on the market, totals 4.2 million units, which is unchanged from last year.
The report noted that "shadow" inventory has jumped 10% from last year. Shadow inventory, according to CoreLogic, includes homes more than 90 days delinquent, homes in foreclosure and homes that are owned by banks but not on the market, and totals 2.1 million units.
CoreLogic, based in Santa Ana, Calif., is a leading provider of consumer, financial and property information, analytics and services to business and government.
The report noted that total visible and shadow inventory to total 6.3 million units, up from 6.1 million a year earlier. At the current sales rate, that would be 23 months of inventory.