Foreclosure Nation

The Federal Reserve says it will complete its purchases of $600 billion in Treasury securities by the end of this month as planned – a program that Fed Chairman Ben Bernanke says has succeeded in keeping mortgage interest rates low. These low interest rates combined with the reduction in home pric...

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Experts blame the massive inventory of existing homes on the market for hindering the U.S. housing sector’s recovery. The overhang has been inflated by large volumes of foreclosures, and it’s expected to grow with millions more coming down the pipeline. Brendan Lowney, macroeconomist for the firm ...

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The industry’s shadow inventory of repossessed and soon-to-be repossessed homes that aren’t visible as properties for sale has contracted, according to CoreLogic. Analysis released by the company Wednesday shows that the shadow inventory of residential properties as of January 2011 fell to 1.8 mill...

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ORLANDO, Fla. — The housing market could gradually begin to emerge from its doldrums this year, industry experts said Wednesday, but their forecast depends on a steady ramp-up in hiring and for the U.S. jobless rate to get no worse than it is right now. And even if their outlook proves true, a full...

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The freeze in foreclosures by some of the nation’s biggest lenders has taken a chunk out of the number of homes for resale in South Florida, according to a report from CondoVultures.com The report finds that lenders have pulled 2.9 percent of the bank-owned properties from the market in the last we...

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According to S&P shadow inventory has been growing in almost every area over the past 5 years. The backlog will take an estimated 3 years to clean out. This includes loans more than 90 days late. The original principal balance for these loans is thought to total $480 billion (30% of the private labe...

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FNMA's May 2010 report, reflects new and existing home sales posted robust increases in March, probably due to the tax credit. Indicators predict rising sales in the near future, but, declines in Q3. Hopefully improvements in employment will help sales pick up again before the year is over. Overall...

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REO inventories are expected to to grow over the next couple of years, as foreclosure alternatives are exhausted. According to Barclays as of 2/10, there were 480,000 REOs and REOs are predicted to peak 1/12 at 536,000. Even if HAMP and other programs dont end up keeping folks in their homes the...

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According to Clear Capital home prices slipped 5.0% in April compared to 3 months earlier, a 1.1% decline on top of the quarterly decline reported last month. But at least the decline seems to be slowing. Between February and March the drop was 3.9%. And year-over-year values show a 5.1% gain. ...

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According to NAR existing home sales rose 6.8% across the country between February and March and are 16.1% more than March of last year. NAR says that means sales have been higher than last years levels for 20 months in a row now, but remember sales had no place to go but up since they had virtual...

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Homes listed for sale have been highest during June, July and August for all years since 2000 with the exception of this past year. Sales typically plummet in the Fall. These nromal trends have been upset by government intervetnion such as the home buyer tax credit....

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An estimated 7 million housing units are said to be lurking in the shadows as lenders hold off on selling until prices increase, foreclosurees are delayed for a variety of reasons and investors buying distrseed properties with the intent of eventually reselling also wait to resell. All this as more...

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