April REO’s Cause Increase In Inventory

April REO’s Cause Increase In Inventory

Short Sale Solutions

There were 125,875 foreclosure filings in the month of April, which was an increase of 9% since April 2014 and a 3% increase since last month. This is the highest amount of foreclosure filings since October 2013.

There were 45,168 repossessed homes (REO’s) in the month of April, which was an increase of 50% since last April 2014 and a 25% increase since last month. This is the highest amount of REO’s since January 2013.

The increase was caused by a “cleaning up” phase from the last housing crisis, not a new one. Actually, the increase in inventory may help stimulate sales since the new inventory are at lower price points.

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Source: RealtyTrac.com

April REO’s Cause Increase In Inventory

Short Sale Solutions

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