I don’t understand the report’s argument that “Bottom line- there is no ‘shadow’ inventory of bank owned homes being intentionally withheld from the market.”
“With 90,365 properties in inventory, banks currently carry about 4.77 months of supply, however, it
takes the banks on average 7.33 months to dispose of a bank owned home, thus current inventory is less
than should be expected…”
What? If it takes 7 months to get rid of a property, and there is a 5 month supply, wouldn’t that lead to an increasing inventory of bank owned homes in the future?
Someone help me out here….
If this is true, that there is no shadow inventory, then what? Has a price floor been set?
