Throughout this correction, the thing most buyers were hoping for, was to take advantage of the “Shadow Inventory”, unfortunately, it never materialized and won’t in the Bay Area.
From DS News
Overall residential shadow inventory, as of July 2013, was 1.9 million homes, according to CoreLogic. That's the lowest shadow inventory tally reported since August 2008. The industry's current shadow inventory carries a value of $293 billion, down from $380 billion in July 2012. It represents 3.7 months' of supply and accounts for 85 percent of the 2.2 million properties that were seriously delinquent, in foreclosure, or bank-owned at July month-end. » Read More
- Sunil Sethi
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