by Calculated Risk on 11/15/2014 08:11:00 AM
Saturday, November 15, 2014
Lawler: Preliminary Table of Distressed Sales and Cash buyers for Selected Cities in October
Economist Tom Lawler sent me the table below of short sales, foreclosures and cash buyers for a few selected cities in October.
On distressed: Total "distressed" share is down in these markets mostly due to a decline in short sales.
Short sales are down significantly in these areas.
Foreclosures are up slightly in several of these 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 Share | Foreclosure Sales Share | Total "Distressed" Share | All Cash Share | |||||
---|---|---|---|---|---|---|---|---|
Oct-14 | Oct-13 | Oct-14 | Oct-13 | Oct-14 | Oct-13 | Oct-14 | Oct-13 | |
Las Vegas | 10.6% | 21.0% | 8.9% | 6.0% | 19.5% | 27.0% | 35.1% | 44.9% |
Reno** | 6.0% | 16.0% | 4.0% | 4.0% | 10.0% | 20.0% | ||
Phoenix | 3.7% | 8.4% | 6.2% | 6.9% | 9.9% | 15.3% | 27.7% | 31.6% |
Sacramento | 6.1% | 13.7% | 6.3% | 5.9% | 12.4% | 19.6% | 20.6% | 23.9% |
Minneapolis | 2.7% | 5.1% | 9.8% | 16.4% | 12.5% | 21.5% | ||
Mid-Atlantic | 4.8% | 8.2% | 10.0% | 7.9% | 14.9% | 16.1% | 19.2% | 19.9% |
California * | 6.1% | 10.3% | 5.3% | 6.7% | 11.4% | 17.0% | ||
Bay Area CA* | 3.5% | 7.3% | 2.7% | 3.7% | 6.2% | 11.0% | ||
So. California* | 5.9% | 10.8% | 4.8% | 6.3% | 10.7% | 17.1% | ||
Hampton Roads | 19.7% | 25.5% | ||||||
Northeast Florida | 30.0% | 38.2% | ||||||
Toledo | 38.2% | 37.1% | ||||||
Tucson | 26.8% | 32.1% | ||||||
Des Moines | 18.8% | 20.2% | ||||||
Peoria | 22.8% | 21.1% | ||||||
Georgia*** | 27.8% | N/A | ||||||
Pensacola | 33.5% | 33.7% | ||||||
Memphis* | 13.3% | 19.8% | ||||||
Birmingham AL | 15.2% | 21.0% | ||||||
*share of existing home sales, based on property records **Single Family Only ***GAMLS |