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Thursday, January 21, 2010

Backlog of foreclosed homes overshadows market recovery | News for Dallas, Texas | Dallas Morning News | Dallas Business News

Backlog of foreclosed homes overshadows market recovery | Dallas Business News by Steve Brown:
"LAS VEGAS – A growing overhang of foreclosed housing is casting a shadow on the housing market recovery.

Thousands of vacant houses are sitting on markets around the country – many of them foreclosed homes awaiting resale, analysts say.

What happens to those foreclosed houses will affect home values in many areas, economists warned this week at the National Association of Home Builders' annual conference in Las Vegas."