Strong housing market helps reduce lingering foreclosure inventory

As more homeowners realize their equity situation has dramatically improved over the last four years, they will be more likely to put their homes on the market. With the residential real estate sector outperforming a sluggish economy, more home builders will be looking to add new construction inventory to a depleted supply of housing stock.

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Mortgage banking revenue falls in Q2.. Strong housing market helps reduce lingering foreclosure inventory. of the strong seller’s market to dispose of lingering foreclosure inventory over.

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A little less than 20k residential properties in the foreclosure process lie vacant (zombies), representing 4.7% of all foreclosures, according to the Q2 2016 U.S. Residential Property Vacancy and.

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 · Vacant "Zombie" Foreclosures Decrease 30 Percent in Second Quarter 2016 Compared to a Year Ago. of the strong seller’s market to dispose of lingering foreclosure inventory over the past year.

Total housing inventory at March end, rose 50,000 to 1.68 million, up from 1.63 million in February. The added inventory should moderate prices although prices never seem to moderate. Homebuyers will at least have more inventory and perhaps a better bargaining position for their Realtor to negotiate with. Distressed sales increased by 1%.

Mortgage applications surge on low interest rates Strong housing market helps reduce lingering foreclosure inventory Prices here are down only about 20 percent from their peak, and foreclosure and delinquency rates are also lower

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Home values aren't expected to go bust like in the Great Recession, but homeowners should still cushion their savings.

"The California Homeowner Bill of Rights that took effect in January will in fact likely further reduce foreclosure inventory. to take advantage of strong demand. But since we didn’t do much.