The weekly statistics for distressed and traditional real estate sales have been updated for last week.
An index of local home prices fell in December for the fifth straight month, hitting its lowest point since the summer of 2001.
The growing concern is over the “shadow inventory” or foreclosures/soon-to-be-foreclosures that aren’t out there already. A massive influx of this type of inventory would devastate already fragile values in many areas. Instead, properties are coming to market steadily over time, which makes many wonder about recovery and time. A good indicator would be to look for residential loan delinquencies put out by the Federal Reserve which would give insight on homeowners who are falling behind on their mortgage payments.