Inventory Disarray

Distressed Inventory has continued to drop year after year. While distressed inventory is declining, the time estimated to clear these distressed homes from the market is rising, up five months from the second quarter of this year and 11 months from September 2012, according to Morningstar’s analysis. Judicial foreclosure states hold close to 7 years of distressed inventory, while non-judicial states hold about half of that. Although New York holds the lengthiest inventory timeline at approximately 230 months, Phoenix has the shortest at just 20 months. For the full article in follow this link.