A question that has been brought up lately from clients, family and friends is what about this shadow inventory? The phrase shadow inventory is describing houses that are 90 days delinquent on their mortgage, houses that are in the foreclosure process, or houses owned by the bank, but not yet put onto the market. Currently in Pierce County there are 265 active bank listings. This time last year there were 639 listings. So will we see a flood of inventory coming on within the next few months? My professional opinion is we will see more inventory than what we have now, but no flood. I believe the days of 600 listings is over. Will we see 400 listings? Maybe.
Here is a KCM Webinar that is very informative on shadow inventory.