know that something is missing...
but not know where they are hiding it.
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The NAR has just released their "estimate" of the size & location of the "shadow inventory".
The 1st map/chart shows U.S. how large the foreclosure sales are in each state.
The 2nd lists the states with the largest shadow inventory.
The 3rd lists the states with the smallest shadow inventory.
The 4th map/chart shows U.S. the estimate time in months to clear the shadow inventory at current sales levels.
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There a number of problems with this NAR estimate. First, they cannot be counting/including the pending foreclosures in this list. Second, this look more like it is being taken from their "listings" and does not include all of the REO properties that are being held back.
But, an NAR "guesstimate" is better than nothing.
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State by State Estimate of Shadow Inventory
http://economistsoutlook.blogs.realtor.org/2011/03/21/state-by-state-estimate-of-shadow-inventory/
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