Posts tagged shadow inventory

Shadow Inventory – What Will Its Impact Be on The Charlottesville Real Estate Market

My definition of Shadow Inventory, specific to the Charlottesville market – Homes that are still for sale but have been withdrawn from the market for any number of reasons – to make the home appear less “stale,” to take a break for the holidays, or most likely – because the seller was unable to sell the home and was able to rent it, even though that rent may or may not pay the monthly mortgage … … I’m working on finding how many housing units we have in the Charlottesville area … as I noted earlier this year , Albemarle County and the City of Charlottesville had .03% and .02% respectively of housing inventory as being in foreclosure … if that were to triple (and I suspect this might be likely), we’d have a real shadow inventory issue to deal with.

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