US home forfeitures

This page is about distressed sales of homes. Its a little dry but is vital reading for all.

The main questions are whether the backlog is being cleared and whether distressed sales are affecting prices.

Thank you Clear on Money.

http://www.clearonmoney.com/dw/doku.php?id=public:us_home_forfeitures

Summary
23 Jun 2010.

The underlying trend in US distressed home sales has been upward for about a year. Despite some ambiguity and incompleteness in the seven available data series, it is clear that the upward trend remains intact.

House prices are inversely related to the fraction of all sales that is distressed, where bank sales and short sales constitute the distressed category. The rate of change in house prices is inversely related to the inventory of existing homes, measured in months of supply. Both of these measures now suggest falling prices.