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Thursday, November 19, 2015

Lawler: Preliminary Table of Distressed Sales and All Cash Sales for Selected Cities in October

by Calculated Risk on 11/19/2015 01:01:00 PM

Economist Tom Lawler sent me a preliminary table below of short sales, foreclosures and all cash sales for a few selected cities in October.

On distressed: Total "distressed" share is down in most of these markets.  Distressed sales are up in the Mid-Atlantic due to an increase in foreclosures.

Short sales are down in all 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 ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Oct-
2015
Oct-
2014
Oct-
2015
Oct-
2014
Oct-
2015
Oct-
2014
Oct-
2015
Oct-
2014
Las Vegas6.7%10.6%7.3%8.9%14.0%19.5%30.9%35.1%
Reno**4.0%6.0%3.0%4.0%7.0%10.0%
Phoenix2.7%3.7%3.6%6.2%6.3%9.9%24.6%27.7%
Sacramento4.0%6.1%3.5%6.3%7.5%12.4%17.8%20.7%
Minneapolis2.3%2.7%7.7%9.9%10.0%12.6%
Mid-Atlantic3.7%4.8%11.9%10.0%15.6%14.9%19.3%19.2%
Baltimore ****3.0%N/A18.6%N/A 21.6%N/A
Orlando3.5%5.2%19.0%26.7%22.5%31.8%36.3%41.9%
Chicago (city)18.3%20.9%
Hampton Roads16.6%19.7%
Spokane12.3%13.8%
Colorado2.0%3.6%
Northeast Florida25.2%30.6%
Toledo30.4%38.2%
Tucson28.1%26.8%
Peoria20.8%22.8%
Georgia***23.1%26.5%
Omaha16.4%18.5%
Pensacola31.1%33.5%
Richmond VA 9.3%11.5%17.1%21.5%
Memphis15.5%13.4%
Springfield IL**7.8%8.6%19.2%18.6%
*share of existing home sales, based on property records
**Single Family Only
***GAMLS
****Baltimore is included in the Mid-Atlantic region, but is shown separately here