RSS Feed by Calculated Risk on 4/22/2015 07:07:00 PM
Wednesday, April 22, 2015
Lawler: Updated Table of Distressed Sales and Cash buyers for Selected Cities in March
Thursday:
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to decrease to 290 thousand from 294 thousand.
• At 10:00 AM, New Home Sales for March from the Census Bureau. The consensus is for a decrease in sales to 510 thousand Seasonally Adjusted Annual Rate (SAAR) in March from 539 thousand in February.
Economist Tom Lawler sent me the updated table below of short sales, foreclosures and cash buyers for a few selected cities in March.
On distressed: Total "distressed" share is down in most of these markets mostly due to a decline in short sales (Mid-Atlantic is up year-over-year because of an increase foreclosure as lenders work through the backlog).
Short sales are down in these areas.
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 | |||||
|---|---|---|---|---|---|---|---|---|
| Mar-15 | Mar-14 | Mar-15 | Mar-14 | Mar-15 | Mar-14 | Mar-15 | Mar-14 | |
| Las Vegas | 8.3% | 12.9% | 9.3% | 11.7% | 17.6% | 24.6% | 32.4% | 43.1% |
| Reno** | 5.0% | 14.0% | 8.0% | 7.0% | 13.0% | 21.0% | ||
| Phoenix | 3.2% | 5.1% | 4.2% | 6.9% | 7.4% | 11.9% | 27.5% | 33.1% |
| Sacramento | 5.4% | 8.2% | 6.9% | 7.9% | 12.3% | 16.1% | 19.3% | 22.5% |
| Minneapolis | 2.9% | 4.9% | 12.2% | 21.9% | 15.1% | 26.8% | ||
| Mid-Atlantic | 4.7% | 7.7% | 14.0% | 10.9% | 18.8% | 18.5% | 18.2% | 19.9% |
| Bay Area CA* | 4.1% | 4.6% | 3.1% | 4.3% | 7.2% | 8.9% | 25.8% | 29.8% |
| So. California* | 5.7% | 7.1% | 5.2% | 6.3% | 10.9% | 13.4% | 25.8% | 29.8% |
| Florida SF | 3.9% | 7.0% | 20.7% | 22.0% | 24.6% | 29.0% | 39.0% | 45.4% |
| Florida C/TH | 2.5% | 4.4% | 14.3% | 15.9% | 16.8% | 20.3% | 66.4% | 70.9% |
| Hampton Roads | 22.7% | 24.5% | ||||||
| Chicago (city) | 21.9% | 28.8% | ||||||
| Northeast Florida | 31.0% | 39.1% | ||||||
| Tucson | 32.0% | 33.5% | ||||||
| Toledo | 32.7% | 40.7% | ||||||
| Wichita | 23.2% | 32.0% | ||||||
| Des Moines | 16.3% | 20.8% | ||||||
| Georgia*** | 23.2% | 33.8% | ||||||
| Omaha | 16.2% | 20.3% | ||||||
| Pensacola | 33.4% | 35.7% | ||||||
| Knoxville | 22.9% | 25.1% | ||||||
| Richmond VA MSA | 11.9% | 18.1% | 18.0% | 21.1% | ||||
| Memphis | 15.5% | 18.5% | ||||||
| Springfield IL** | 11.8% | 14.4% | ||||||
| *share of existing home sales, based on property records **Single Family Only ***GAMLS | ||||||||
