After months of declines, the foreclosure numbers are going up again.
Foreclosure starts, the first phase of the process, rose 9 percent in May month-to-month, the first increase in over two years, according to a new report from RealtyTrac. Bad news, right? Only if you are the one losing your home.
For the overall housing market, this is exactly what needs to happen to return to health. For hungry investors, it means more opportunity.
There are still millions of delinquent loans which will never "cure," and the sooner they get processed and sold, the better for home prices and home buyer confidence.
As the so-called, "shadow inventory" of distressed properties (seriously delinquent loans and bank owned homes yet unlisted) drops, down to 1.5 million units in the first three months of this year from 1.8 million a year ago, according to a new report from CoreLogic, the real inventory of potential homes for sale can stabilize and become a more dependable reading for buyers.
How do you believe existing supply numbers if you know there is far more lurking in the pipeline, but you have no idea when it will hit the market?