According to a recent CoreLogic report, shadow inventory has dropped to a three year low. But what is shadow inventory you might ask? CoreLogic defines the term as properties that are delinquent for at least 90 days, in the process of foreclosure, and properties that have finished the process of foreclosing but have yet to be placed on the market.
In fact, shadow inventory has decreased by 300,000 since April of last year!
Some of the cities that have had the largest decrease in shadow inventory are: Arizona (-37%), Nevada (-27.4%), and Minnesota (-18.1%).
Read the full CoreLogic report.
