Tuesday, February 22, 2011

FHA: REO inventory up 47% over last year

by Bill McBride on 2/22/2011 05:25:00 PM

The FHA released the December Monthly Report today. The report shows the FHA REO inventory was at 60,739 at the end of December, up 9.5% from 55,488 in November, and up 47.5% from December 2009.

The combined REO inventory for the "Fs" (Fannie, Freddie and FHA) was at a record 293,171 at the end of Q3 2010. Fannie and Freddie will report for Q4 soon, and based on the increase at the FHA, REO inventory will be well over 300,000 at year end.

Here is the graph of Fannie, Freddie and FHA inventory over the last three years through Q3 2010.

Earlier on house prices:
Real House Prices fall to 2000 Levels, Update on NAR Overstating Sales
Case-Shiller: National Home Prices Are Close to the 2009Q1 Trough