Eye on the Market
Snellville Home Prices Moving On Up
Columnist and Realtor Jamie Parker discusses rising prices and "shadow inventory" in this week's Eye on the Market.
Good News Nationally, we have continuously received good news about the housing market. Prices have been steadily going up and a third of the homes sold nationwide in July were on the market for less than a month. We also saw the first dips in interest rates this past week after five straight weeks of increases. This is all pointing to a healthy housing recovery. Shadow Inventory While all of this sounds awesome, there are many out there who have heard this term: "shadow inventory." What is it? It's the inventory of foreclosed homes that the bank is holding off from putting on the market. During a recent seminar, a panel of higher ups from many of the major mortgage lenders discussed the shadow inventory. At least one major lender, …
