RSS Feed by Calculated Risk on 8/20/2014 04:34:00 PM
Wednesday, August 20, 2014
Lawler: Updated Table of Distressed Sales and Cash buyers for Selected Cities in July
Economist Tom Lawler sent me the updated table below of short sales, foreclosures and cash buyers for several selected cities in July.
Comments from CR: Tom Lawler has been sending me this table every month for several years. I think it is very useful for looking at the trend for distressed sales and cash buyers in these areas. I sincerely appreciate Tom sharing this data with us!
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 few areas like Nevada, Sacramento, Orlando, Miami and the Mid-Atlantic (areas with foreclosure delays related to a judicial foreclosure process or state law changes).
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 Share | Foreclosure Sales Share | Total "Distressed" Share | All Cash Share | |||||
|---|---|---|---|---|---|---|---|---|
| July-14 | July-13 | July-14 | July-13 | July-14 | July-13 | July-14 | July-13 | |
| Las Vegas | 11.5% | 28.0% | 10.1% | 8.0% | 21.6% | 36.0% | 35.6% | 54.5% |
| Reno** | 8.0% | 21.0% | 4.0% | 7.0% | 12.0% | 28.0% | ||
| Phoenix | 3.7% | 11.5% | 5.9% | 9.4% | 9.6% | 20.8% | 24.8% | 35.8% |
| Sacramento | 5.7% | 17.9% | 6.3% | 5.1% | 12.0% | 23.0% | 20.9% | 25.5% |
| Minneapolis | 3.0% | 5.7% | 9.5% | 15.0% | 12.5% | 20.7% | ||
| Mid-Atlantic | 4.3% | 6.6% | 7.7% | 6.6% | 12.1% | 13.2% | 17.1% | 16.1% |
| Orlando | 8.3% | 17.9% | 24.4% | 17.5% | 32.7% | 35.4% | 39.6% | 47.8% |
| California * | 6.6% | 12.7% | 5.6% | 8.3% | 12.2% | 21.0% | ||
| Bay Area CA* | 4.2% | 8.5% | 2.7% | 4.6% | 6.9% | 13.1% | 20.2% | 23.5% |
| So. California* | 5.9% | 12.7% | 5.2% | 7.7% | 11.1% | 20.4% | 24.5% | 30.0% |
| Miami MSA SF | 8.5% | 17.8% | 17.4% | 12.9% | 25.9% | 30.7% | 38.6% | 43.2% |
| Miami MSA C/TH | 5.1% | 12.6% | 21.7% | 17.1% | 26.8% | 29.7% | 68.1% | 75.0% |
| Georgia*** | 24.1% | N/A | ||||||
| Toledo | 32.9% | 35.0% | ||||||
| Wichita | 28.0% | 24.1% | ||||||
| Des Moines | 15.1% | 15.1% | ||||||
| Peoria | 18.4% | 18.6% | ||||||
| Tucson | 26.2% | 29.1% | ||||||
| Omaha | 17.0% | 15.9% | ||||||
| Pensacola | 32.9% | 30.0% | ||||||
| Memphis* | 13.4% | 16.9% | ||||||
| *share of existing home sales, based on property records **Single Family Only ***GAMLS | ||||||||
