S&P: Shadow Housing Inventory to Clear in Four Years

It will take less time than previously expected for the housing market to clear the supply of distressed homes on the market, but that so-called shadow inventory will still be around for nearly four years, Standard Poor’s Rating Services said last week.

It was the first time in two years that SP had lowered its estimate for the life expectancy of the shadow inventory. The agency estimated last week that there was a 47-month supply of homes at the end of the second quarter, which was five months shorter than its estimate at the end of the first quarter.

Article source: http://www.nationalmortgagenews.com/msn_features/-1026317-1.html?CMP=OTC-RSS

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