New Wave of Distressed Homes to Hit US Real Estate Market

A wave of distressed residential properties may flood an already saturated residential real estate market in the coming months, according to CoreLogic.

According to a report from the financial and property information provider CoreLogic (NYSE: CLGX), there were 2.1 million units of distressed, but not-yet-listed residential properties nationwide as of August 2010. That’s an eight-month supply of distressed properties that had yet to hit the market.

Already listed properties, including distressed and non-distressed homes, totaled 4.2 million units in August. 2010, enough supply to last 15 months.

Full Story from BizJournals.com

Click here for gay realtors, mortgage lenders, and other real estate professionals.

Leave a Reply

Your email address will not be published. Required fields are marked *