RSS Feed by Calculated Risk on 5/22/2014 05:45:00 PM
Thursday, May 22, 2014
Lawler: Updated Table of Distressed Sales and Cash buyers for Selected Cities in April
Economist Tom Lawler sent me the updated table below of short sales, foreclosures and cash buyers for selected cities in April. Lawler writes: "Note the steep YOY decline in the short-sales share, and the significant increase in the foreclosure sales share of home sales in Florida."
Total "distressed" share is down in all of these markets, mostly because of a sharp decline in short sales.
Foreclosures are down in most of these areas too, although foreclosures are up in some judicial foreclosure areas and also in Las Vegas (there was a state law change that slowed foreclosures dramatically in Nevada at the end of 2011).
The All Cash Share (last two columns) is mostly declining year-over-year.
| Short Sales Share | Foreclosure Sales Share | Total "Distressed" Share | All Cash Share | |||||
|---|---|---|---|---|---|---|---|---|
| Apr-14 | Apr-13 | Apr-14 | Apr-13 | Apr-14 | Apr-13 | Apr-14 | Apr-13 | |
| Las Vegas | 12.4% | 32.5% | 11.4% | 10.0% | 23.8% | 42.5% | 41.4% | 59.3% |
| Reno** | 15.0% | 33.0% | 6.0% | 8.0% | 21.0% | 41.0% | ||
| Phoenix | 4.0% | 12.7% | 6.5% | 11.3% | 10.5% | 24.1% | 32.2% | 42.0% |
| Sacramento | 7.5% | 8.8% | 9.5% | 23.1% | 17.0% | 31.9% | 21.9% | 37.2% |
| Minneapolis | 5.0% | 7.4% | 15.9% | 24.0% | 20.9% | 31.4% | ||
| Mid-Atlantic | 5.9% | 9.9% | 10.0% | 8.6% | 15.9% | 18.5% | 19.5% | 19.4% |
| Orlando | 9.1% | 21.2% | 23.7% | 20.5% | 32.9% | 41.8% | 42.4% | 54.8% |
| California * | 5.5% | 16.1% | 6.7% | 13.5% | 12.2% | 29.6% | ||
| Bay Area CA* | 3.8% | 11.8% | 3.6% | 8.4% | 7.4% | 20.2% | 22.9% | 28.3% |
| So. California* | 5.4% | 16.6% | 5.9% | 12.4% | 11.3% | 29.0% | 26.7% | 34.4% |
| Florida SF | 6.9% | 14.8% | 21.1% | 16.2% | 28.0% | 31.0% | 43.4% | 47.9% |
| Florida C/TH | 4.5% | 10.2% | 15.6% | 12.0% | 20.1% | 22.3% | 70.9% | 73.8% |
| Miami MSA SF | 10.5% | 18.5% | 16.5% | 10.8% | 27.0% | 29.3% | 44.4% | 47.1% |
| Miami MSA C/TH | 5.6% | 12.8% | 17.5% | 12.0% | 23.1% | 24.7% | 73.4% | 78.9% |
| Sarasota | 3.8% | 9.5% | 12.8% | 12.5% | 16.6% | 22.0% | ||
| Northeast Florida | 38.1% | 39.5% | ||||||
| Hampton Roads | 24.4% | 27.8% | ||||||
| Toledo | 33.4% | 40.8% | ||||||
| Des Moines | 17.1% | 19.6% | ||||||
| Peoria | 21.2% | 24.4% | ||||||
| Tucson | 30.5% | 33.5% | ||||||
| Omaha | 22.3% | 17.4% | ||||||
| Pensacola | 35.6% | 34.5% | ||||||
| Georgia*** | 34.3% | NA | ||||||
| Houston | 6.1% | 10.4% | ||||||
| Memphis* | 16.6% | 24.7% | ||||||
| Birmingham AL | 16.8% | 24.1% | ||||||
| Springfield IL** | 13.2% | 14.4% | ||||||
| *share of existing home sales, based on property records **Single Family Only ***GAMLS | ||||||||
