RSS Feed by Calculated Risk on 3/24/2015 02:57:00 PM
Tuesday, March 24, 2015
Lawler: Updated Table of Distressed Sales and Cash buyers for Selected Cities in February
Economist Tom Lawler sent me the updated table below of short sales, foreclosures and cash buyers for several selected cities and areas in February.
On distressed: Total "distressed" share is down in most of these markets mostly due to a decline in short sales (Mid-Atlantic is up year-over-year because of an increase foreclosure as lenders work through the backlog).
Short sales are down in these areas.
Foreclosures are up in several areas, especially in Florida.
The All Cash Share (last two columns) is 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 | |||||
|---|---|---|---|---|---|---|---|---|
| Feb-15 | Feb-14 | Feb-15 | Feb-14 | Feb-15 | Feb-14 | Feb-15 | Feb-14 | |
| Las Vegas | 9.3% | 14.0% | 9.7% | 12.0% | 19.0% | 26.0% | 37.4% | 46.8% |
| Reno** | 7.0% | 13.0% | 7.0% | 7.0% | 14.0% | 20.0% | ||
| Phoenix | 4.4% | 5.3% | 5.8% | 8.3% | 10.1% | 13.7% | 29.9% | 35.4% |
| Sacramento | 6.3% | 12.4% | 8.6% | 7.0% | 14.9% | 19.4% | 19.8% | 26.5% |
| Minneapolis | 2.7% | 5.0% | 15.3% | 25.3% | 18.1% | 30.3% | ||
| Mid-Atlantic | 5.3% | 7.7% | 15.1% | 10.9% | 20.4% | 18.6% | 21.2% | 21.4% |
| Orlando | 5.3% | 9.4% | 27.0% | 23.8% | 32.3% | 33.2% | 42.2% | 48.2% |
| California * | 6.2% | 9.0% | 6.8% | 8.0% | 13.0% | 17.0% | ||
| Bay Area CA* | 4.8% | 6.3% | 4.5% | 5.0% | 9.3% | 11.3% | 26.7% | 28.4% |
| So. California* | 6.1% | 9.0% | 6.1% | 6.7% | 12.2% | 15.7% | 28.0% | 31.0% |
| Florida SF | 4.9% | 8.4% | 24.0% | 23.6% | 28.9% | 32.0% | 42.4% | 47.9% |
| Florida C/TH | 2.9% | 6.0% | 18.8% | 17.8% | 21.7% | 23.8% | 69.4% | 73.2% |
| Tampa MSA SF | 5.2% | 9.9% | 26.6% | 24.9% | 31.8% | 34.8% | 43.2% | 46.4% |
| Tampa MSA C/TH | 2.4% | 5.3% | 19.0% | 19.2% | 21.5% | 24.6% | 65.4% | 71.2% |
| Miami MSA SF | 7.7% | 13.8% | 22.5% | 16.4% | 30.1% | 30.1% | 42.2% | 48.7% |
| Miami MSA C/TH | 3.6% | 7.5% | 23.5% | 18.3% | 27.1% | 25.8% | 71.9% | 75.2% |
| Northeast Florida | 37.6% | 44.5% | ||||||
| Chicago (city) | 29.9% | 40.0% | ||||||
| Hampton Roads | 22.6% | 30.7% | ||||||
| Des Moines | 21.3% | 23.3% | ||||||
| Georgia*** | 27.1% | 35.3% | ||||||
| Omaha | 19.6% | 25.6% | ||||||
| Pensacola | 36.7% | 41.8% | ||||||
| Knoxville | 23.9% | 27.4% | ||||||
| Richmond VA | 13.9% | 22.2% | 21.5% | 22.2% | ||||
| Springfield IL** | 15.3% | 18.3% | 21.4% | N/A | ||||
| *share of existing home sales, based on property records **Single Family Only ***GAMLS | ||||||||
