5  A home enters a lender’s REO inventory when the lender completes foreclosure proceedings or otherwise obtains legal control of a property. Percentages are from staff calculations based on data provided by CoreLogic.
6  Elliot Anenberg and Edward Kung (2012), “Estimating the Size and Source of Price Declines due to Nearby Foreclosures,” Finance and Economics Discussion Series 2012-84 (Washington: Board of Governors of the Federal Reserve System, October). 7  The finding is from data provided by CoreLogic.