RSS Feed by Calculated Risk on 1/16/2015 11:46:00 AM
Friday, January 16, 2015
Lawler: Preliminary Table of Distressed Sales and Cash buyers for Selected Cities in December
Economist Tom Lawler sent me the preliminary table below of short sales, foreclosures and cash buyers for a few selected cities in December.
On distressed: Total "distressed" share is down in most of these markets mostly due to a decline in short sales.
Short sales are down in these areas (except Sacramento).
Foreclosures are up in a few areas (working through the logjam).
The All Cash Share (last two columns) is declining year-over-year. As investors pull back, the share of all cash buyers will probably continue to decline.
| Short Sales Share | Foreclosure Sales Share | Total "Distressed" Share | All Cash Share | |||||
|---|---|---|---|---|---|---|---|---|
| Dec-14 | Dec-13 | Dec-14 | Dec-13 | Dec-14 | Dec-13 | Dec-14 | Dec-13 | |
| Las Vegas | 10.0% | 20.7% | 8.0% | 8.5% | 18.0% | 29.2% | 34.1% | 44.4% |
| Reno** | 8.0% | 24.0% | 5.0% | 4.0% | 13.0% | 28.0% | ||
| Phoenix | 29.2% | 32.9% | ||||||
| Sacramento | 6.2% | 6.1% | 7.1% | 5.4% | 13.3% | 11.5% | 15.4%** | 19.5%** |
| Minneapolis | 3.7% | 5.5% | 12.6% | 17.1% | 16.3% | 22.7% | ||
| Mid-Atlantic | 4.9% | 8.0% | 11.2% | 9.3% | 16.1% | 17.3% | 20.3% | 19.3% |
| Orlando | 4.8% | 13.5% | 26.7% | 19.1% | 31.5% | 32.7% | 40.0% | 45.0% |
| Bay Area CA* | 4.0% | 7.9% | 3.7% | 4.6% | 7.7% | 12.5% | 19.0% | 23.5% |
| So. California* | 6.2% | 10.2% | 5.0% | 5.8% | 11.2% | 16.0% | 23.8% | 28.8% |
| Hampton Roads | 21.5% | 29.1% | ||||||
| Northeast Florida | 30.6% | 37.9% | ||||||
| Toledo | 37.9% | 36.5% | ||||||
| Tucson | 28.7% | 32.3% | ||||||
| Des Moines | 20.3% | 23.1% | ||||||
| Georgia*** | 25.5% | N/A | ||||||
| Omaha | 20.5% | 23.9% | ||||||
| Memphis* | 15.0% | 21.0% | ||||||
| *share of existing home sales, based on property records **Single Family Only ***GAMLS | ||||||||
