2.2 million is the number of homes estimated to be in the shadow inventory at the end of January 2013[1]. This is down 28 percent from peak estimates during January 2010 which estimated 3 million housing units. The 2.2 million homes represent a nine-month supply of inventory that will be on the market in the future due to serious delinquencies, foreclosures, or REO status in the present.

 


[1] http://www.dsnews.com/articles/corelogic-shadow-inventory-falls-18-to-22m-homes-2013-03-26