Shadow Inventory South Florida U.S.
As of 4th Qtr 2010 441,461 2,777,247
Share of U.S. Shadow 15.9% N/A
Months of Supply 28.8 12.0
More information on the OMB's geographic definitions can be found at http://www.whitehouse.gov/omb/inforeg_statpolicy/
A concern of many in the real estate field is the amount of inventory that banks have on their books, but have not yet released to the market. This shadow inventory consists of homes near default or already in bank possession, but not listed for sale. A large influx of inventory from this shadow population would place downward pressure on home prices. Bank representatives state that they are not holding back inventory. Statistical evidence suggests that foreclosures are often priced well below comparable non-distressed properties and move quickly after entering the market as a result.
The shadow inventory for South Florida is 441,461 properties which accounts for roughly 15.9% of the total shadow inventory for the United States. This represents 28.8 months of supply assuming that the shadow inventory sells at roughly the current rate of sales for foreclosed homes. For more information on how the shadow inventory was calculated, see the article "State by State Estimate of Shadow Inventory" by Economist Selma Hepp of NAR Research at http://economistsoutlook.blogs.realtor.org
Allegra Garces Willis
Realtor
954-288-6667
allegra@thewillisgroup.com
Hablo Espanol Tambien
Contact Us | Curb Appeal List | Find A Home! | Meet Allegra Willis | First Time Buyers | Real Estate Glossary | Our Homes | Our Featured Homes | Home | Search All Florida Homes Available | Search All South Florida Homes | Search for Properties | Site Map | 9 Steps to Ownership | Staging Your Home | Tenant representation | Buying Foreclosures/REO's | Gated Communities | Our Blog
Copyright © 2012 Willis Real Estate GroupPortions Copyright © 2012 a la mode, inc.Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site MapAll rate, payment, and area information are estimates and approximations only.
