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 ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Apr-14Apr-13Apr-14Apr-13Apr-14Apr-13Apr-14Apr-13
Las Vegas12.4%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%  
Phoenix4.0%12.7%6.5%11.3%10.5%24.1%32.2%42.0%
Sacramento7.5%8.8%9.5%23.1%17.0%31.9%21.9%37.2%
Minneapolis5.0%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%
Orlando9.1%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 SF6.9%14.8%21.1%16.2%28.0%31.0%43.4%47.9%
Florida C/TH4.5%10.2%15.6%12.0%20.1%22.3%70.9%73.8%
Miami MSA SF10.5%18.5%16.5%10.8%27.0%29.3%44.4%47.1%
Miami MSA C/TH5.6%12.8%17.5%12.0%23.1%24.7%73.4%78.9%
Sarasota3.8%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

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