Nearly half of the nation's foreclosed homes are still occupied, according to a new study by RealtyTrac. That number is even higher in some markets.
"The housing recovery keeps chugging along despite a constant barrage of disruptions to the broader economy," says the mortgage giant's chief economist.
Mortgage applications for home purchases ticked up last week as mortgage rates dropped to their lowest level since June, the Mortgage Bankers Association reported.
The inventory problem that has plagued many parts of the country over the past year is showing signs of improving.
Institutional investor purchases hit an all-time high last month as demand skyrockets among firms looking to add residential properties to their portfolios.