As of September 2009, says First American CoreLogic, there was an estimated 1.7‐million‐unit pending supply of residential housing inventory, up from 1.1 million a year earlier.
Sometimes referred to as “shadow” inventory, the pending supply is 3.3 months, up from 2.4 months a year ago.
The “visible” supply of unsold inventory was 3.8 million units in September 2009, down from 4.7 million a year earlier. It fell to 7.8 months in September 2009, down from 10.1 months a year earlier. Continue reading