Shadow inventory impacts vary by state

NAR analysis: New York, New Jersey, Florida taking longer to clear

By Inman News, Monday, March 21, 2011.

Inman News™

A state-by-state breakdown of "shadow inventory" suggests that while Nevada, Arizona and California have the highest foreclosure rates in the nation, buyers will clear those properties from the market at a faster rate than in most other states.

The analysis, by National Association of Realtors Research Economist Selma Hepp, shows the impact of shadow inventory is likely to linger for much longer in states like New York, New Jersey, Florida, Illinois and Washington, where distressed properties make up a smaller percentage of sales.

more…

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership – $149.95

Copyright 2011 Inman News

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.

• Comments
• Email
• Reprint Rights
• Community Guidelines

•   Tweet This

    Tweet This Page

• 

    Facebook

• 

    LinkedIn

• 

   Digg This