The Homa Files

There are still a record number of houses on the market — 9.4 months’ worth of existing homes for sale, according to NAR data.

The backlog is usually under six months.

And, based on current and projected delinquencies, nearly seven million housing units will eventually enter foreclosure … that could add 1.35 years’ worth of inventory to the market.

Source: WSJ: Housing Recovery Obstacle: So Many Houses, Sept 24, 2009http://online.wsj.com/article/SB125374552378835617.html#mod=WSJ_hpp_MIDDLENexttoWhatsNewsTop

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