RSS Feed by Calculated Risk on 7/22/2013 04:59:00 PM
Monday, July 22, 2013
Lawler: Table of Distressed Sales and Cash buyers for Selected Cities in June
From housing economist Tom Lawler:
Based on a survey of a relatively small sample of realtors that does not necessarily represent the overall market, the NAR alleged that foreclosure sales were 8% of last month’s sales, down from 13% last June; that short sales were 7% of last month’s sales compared to 12% last June; that first-time home buyers comprised 29% of last month’s transactions, down from 32% last June; that all-cash buyers comprised 31% of last month’s sales, up from 29% last June; and that “individual investors” comprised 17% of last month’s sales, down from 19% last June.
CR Note: This is an updated table for a number of cities where distress sales are reported. Lawler has included the NAR's Confidence Index Report. Most of the reporting areas experienced a high percentage of distressed sales (Las Vegas, Phoenix, California, Florida, etc), and it appears that distressed sales are declining just about everywhere.
| Short Sales Share | Foreclosure Sales Share | Total "Distressed" Share | All Cash Share | |||||
|---|---|---|---|---|---|---|---|---|
| Jun-13 | Jun-12 | Jun-13 | Jun-12 | Jun-13 | Jun-12 | Jun-13 | Jun-12 | |
| Las Vegas | 31.0% | 34.2% | 9.0% | 27.8% | 40.0% | 62.0% | 55.3% | 54.0% |
| Reno | 24.0% | 37.0% | 6.0% | 21.0% | 30.0% | 58.0% | ||
| Phoenix | 12.7% | 32.8% | 8.7% | 14.1% | 21.5% | 46.8% | 37.5% | 46.9% |
| Sacramento | 23.2% | 31.0% | 7.5% | 19.7% | 30.7% | 50.7% | 29.9% | 33.4% |
| Minneapolis | 6.0% | 9.6% | 15.7% | 25.1% | 21.7% | 34.6% | ||
| Mid-Atlantic (MRIS) | 7.6% | 10.2% | 6.3% | 8.7% | 13.9% | 18.9% | 15.9% | 16.5% |
| Orlando | 18.7% | 28.5% | 18.1% | 25.2% | 36.8% | 53.7% | 49.8% | 51.7% |
| California (DQ)* | 16.0% | 24.3% | 10.0% | 24.9% | 26.0% | 49.2% | ||
| Bay Area CA (DQ)* | 12.1% | 22.7% | 6.0% | 17.8% | 18.1% | 40.5% | 25.6% | 27.3% |
| So. California (DQ)* | 16.2% | 24.4% | 9.1% | 24.4% | 25.3% | 48.8% | 30.2% | 32.3% |
| Miami MSA SF | 16.8% | 21.3% | 9.6% | 16.3% | 26.4% | 37.6% | 43.3% | 44.9% |
| Miami MSA C/TH | 13.8% | 19.5% | 14.3% | 18.3% | 28.1% | 37.8% | 76.3% | 79.1% |
| Northeast Florida | 35.6% | 39.9% | ||||||
| Chicago | 28.0% | 33.0% | ||||||
| Houston | 8.4% | 16.8% | ||||||
| Memphis* | 18.2% | 29.6% | ||||||
| Birmingham AL | 19.4% | 26.4% | ||||||
| Springfield IL | 12.0% | 9.2% | ||||||
| Tucson | 32.8% | 35.9% | ||||||
| Toledo | 28.1% | 33.0% | ||||||
| Des Moines | 17.5% | 18.9% | ||||||
| Omaha | 14.9% | 14.4% | ||||||
| Pensacola | 29.8% | 34.3% | ||||||
| NAR RCI** | 7.0% | 12.0% | 8.0% | 13.0% | 15.0% | 25.0% | 31.0% | 29.0% |
| *share of existing home sales, based on property records | ||||||||
| **NAR Survey of Realtors, Realtor Confidence Index Report | ||||||||
