Fannie and Freddie: REO inventory declined in Q2, Down 30% Year-over-year
Fannie and Freddie reported results last week. Here is some information on Real Estate Owned (REOs).
Freddie Mac reported the number of REO declined to 9,915 at the end of Q2 2017 compared to 13,284 at the end of Q2 2016.
For Freddie, this is down 87% from the 74,897 peak number of REOs in Q3 2010. For Freddie, this is the lowest since at least 2007.
Fannie Mae reported the number of REO declined to 31,371 at the end of Q2 2017 compared to 45,981 at the end of Q2 2016.
For Fannie, this is down 81% from the 166,787 peak number of REOs in Q3 2010. For Fannie, this is the lowest since at least 2007.
Click on graph for larger image.
Here is a graph of Fannie and Freddie Real Estate Owned (REO).
REO inventory decreased in Q2 for both Fannie and Freddie, and combined inventory is down 30% year-over-year.
There are still a number of properties in the foreclosure process with long time lines in judicial foreclosure states - but this is close to normal levels of REOs.