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.
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