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Wednesday, June 18, 2014

Lawler: Updated Table of Distressed Sales and Cash buyers for Selected Cities in May

by Calculated Risk on 6/18/2014 06:51:00 PM

Economist Tom Lawler sent me the updated table below of short sales, foreclosures and cash buyers for several selected cities in May.

Lawler notes that Orlando is one of a few markets in Florida where foreclosure share of sales up a decent amount from year ago.

On distressed: Total "distressed" share is down in all of these markets, mostly because of a sharp decline in short sales.

Short sales are down in all of these areas.

Foreclosures are down in most of these areas too, although foreclosures are up a little in a couple of areas.

The All Cash Share (last two columns) is mostly declining year-over-year.

As investors pull back, the share of all cash buyers will probably continue to decline.

Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
May-14May-13May-14May-13May-14May-13May-14May-13
Las Vegas7.9%31.8%9.1%10.3%17.0%42.1%40.2%57.9%
Reno**11.0%27.0%6.0%7.0%17.0%34.0%  
Phoenix3.9%12.3%6.7%9.7%10.7%22.0%29.5%38.9%
Sacramento7.0%22.5%8.3%7.5%15.3%30.0%20.5%33.6%
Minneapolis3.9%6.8%12.1%19.9%16.0%26.7%  
Mid-Atlantic 5.2%8.2%8.1%7.2%13.3%15.5%17.2%16.7%
Orlando9.2%22.1%24.7%19.0%34.0%41.2%43.8%53.9%
California *6.0%11.3%6.9%15.0%12.9%26.3%  
Bay Area CA*4.7%10.4%3.1%6.5%7.8%16.9%22.9%27.6%
So. California*6.6%15.7%5.8%10.9%12.4%26.6%25.8%32.6%
Hampton Roads    21.3%26.3%  
Northeast Florida    36.5%37.8%  
Toledo      36.6%33.8%
Wichita      24.3%23.0%
Des Moines      17.5%17.3%
Tucson      31.3%32.8%
Omaha      19.4%14.1%
Pensacola      32.6%32.1%
Georgia***      26.0%NA
Peoria      19.6%21.7%
Georgia***      26.0%NA
Spokane        
Houston  4.5%9.4%    
Memphis*  15.9%21.5%    
Birmingham AL        
*share of existing home sales, based on property records
**Single Family Only
***GAMLS