Shadow Inventory Declines

  Seriously delinquent, foreclosed and REO properties dropped to 2.3 million units in July. This represents a six month supply. ‘Shadow inventory’ is not included in the housing inventory reported by NAR and tends to hold down prices until cleared in any...

Real Estate Weather Report for California

Pending home sales in California fell 1.7 percent in July, according to C.A.R.’s Pending Home Sales Index (PHSI)*.  The index was 117.0 in July, down from June’s index of 119.0, based on contracts signed in July. The index was up 4.9 percent from July 2010.  Pending...