Topic: 'Shadow' housing inventory seen topping 2 million
The shadow supply of homes set to hit the U.S. housing market jumped more than 10 percent from a year earlier to 2.1 million units in August, suggesting prices will continue to decline, a mortgage data firm estimated on Monday.
Based on the number, it would take eight months to work through the shadow inventory, compared with five months a year ago, the firm, CoreLogic, said.