Housing Markets Becoming Less Saturated with REOs
The nation’s REO stock fell 0.6 percent in May to 524,000 properties, according to analysis released by Barclays Capital.
In addition, the research firm estimates that housing’s shadow inventory – which Barclays defines as the supply of homes that are 90 or more days delinquent or in the process of foreclosure, meaning they are nearing REO status – declined by 2.3 percent to 4.02 million properties.
A separate study released by Clear Capital supports the assumption that indeed, there are fewer REOs influencing the market. The real estate valuation firm reports that REO saturation – the percentage of bank-owned homes sold as compared to all properties sold – is steadily declining.
Data from Clear Capital shows that REO saturation dropped 22.7 percent nationally during…
Latest posts by Renee West (see all)
- Benedict Canyon- minutes from rodeo Drive and the Beverly Hills Hotel.Offered for $68,000,000. Contact Renee West for your personal brochure. - October 1, 2018
- NEW CONSTRUCTION ON THE BLUFFS OF CORONA DEL MAR.4541 BRIGHTON ROAD, CORONA DEL MAR- “THE CROWN OF THE SEA”. OFFERED FOR $27,995,000. - September 18, 2018
- 9 Del Mar, Newport Coast, Newport Beach, CA. “Truly the finest estate in Crystal Cove”. Listed at $35,000,000. Contact Agent Renee West at firstname.lastname@example.org for full disclosure. - August 30, 2018