Foreclosure Inventory Is Increasing — New York Real Estate

Foreclosure Inventory Is Increasing

by Raja Tayeb on March 21, 2010

Foreclosure Inventory

The inventory of foreclosed homes that banks are sitting on is rising, threatening to push home prices down further in some parts of the country.

Analysts at Barclays Capital estimated that banks and mortgage investors held about 645,800 foreclosed homes in January, up 4.6 percent from December. That is down significantly from the peak of 845,000 in November 2008.

States with the largest number of foreclosures are Florida, Arizona, Nevada, California, and Michigan.

Webinar: Distressed Sales and the Home Buyer Tax Credit

Source: The Wall Street Journal, James R. Hagerty (03/19/2010)

Posted via web from New York Real Estate Access | Real Estate Blog

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