Phoenix 30th in shadow inventory of homes

The Phoenix-area housing market’s “shadow” inventory of distressed homes is 13.6 months, according to research firm CoreLogic. And despite many gloomy reports about this market, the Phoenix metro ranks 30th among the 50 largest cities in the firm’s list released today. The entire state of Arizona has an average inventory of 13 months. The consumer, financial and property information services company defines “shadow” inventory calculating the number of properties that are seriously delinquent, in foreclosure and owned by lenders. Shadow inventory is typically not included in the official metrics of unsold property.

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