Relevant:
- Foreclosures Continue Decline but Inventory Clearing Slowly
- Shadow Inventory Continues Rapid Decline, Down 28% from Peak
- Modified mortgages re-enter shadow inventory -- By next month the housing crisis will have cost 5,000,000 Americans their homes via foreclosures. Distressed inventory still above 5,000,000.
- California has nearly 9 years of housing supply counting shadow inventory
- Home Vacancies Fall In Cities Hardest-Hit By Foreclosures
2013-10-11 — mortgagenewsdaily.com
The serious delinquency rate, that is homes that are 90 days or more past due, was 5.3 percent at the end of August or 2.1 million mortgages. This is the lowest serious delinquency rate since December 2008.
"The foreclosure inventory continues to improve, as exhibited by these recent numbers," said Dr. Mark Fleming, chief economist for CoreLogic. "A surge in completed foreclosures and a rise in the foreclosure inventory is unlikely given continued house price improvements and shortages of supply in many markets." ''
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