I just looked into a small sample of SFRs that became lender-owned on October 1st. Less than 20% of those (5 out of 32) have been sold since. 30% are currently listed for sale. The remaining houses apparently either didn’t make it to the market yet or are pending.
So, it’s a long pipeline. You can confirm that by going backwards from your MLS, looking at random REOs sold and determining when they became REOs.
