Freddie Mac reported this week the amount of Real Estate Owned s (REO) inventory declined to 13,284 at the end of 2Q 2106 compared to 19,484 at the end of Q2 2015.
For Freddie, this is down 82 per cent from the 74,897 peak number of REOs in 3Q 2010. For Freddie, this is the lowest since 2007.
REO Inventory, US
Freddie Mac reported the amount of Real Estate Owned inventory declined to 13,284 at the end of 2Q 2106 compared to 19,484 at the end of 2Q 2015. For Freddie, this is down 82 per cent from the 74,897 peak number of REOs in 3Q 2010, which was the lowest since 2007. Fannie Mae reported the number of REO declined to 45,981 at the end of 2Q 2016 compared to 68,717 at the end of 2Q 2015. For Fannie, this is down 72 per cent from the 166,787 peak num– ber of REOs in 3Q 2010, and the lowest since 1Q 2008.
REO inventory decreased in 2Q for both Fannie and Freddie, and combined inventory is down 33 per cent year-over-year.
Delinquencies are falling, but there are still a number of properties in the foreclosure process with long time lines in judicial foreclosure states – but this is getting close to normal levels of REOs.