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Friday, September 23, 2016

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

by Calculated Risk on 9/23/2016 08:21:00 AM

Economist Tom Lawler sent me the table below of short sales, foreclosures and all cash sales for selected cities in August.

On distressed: Total "distressed" share is down year-over-year in all of these markets.

Short sales and foreclosures are down in all of these areas (except a minor increase in Springfield).

The All Cash Share (last two columns) is mostly declining year-over-year. As investors continue to pull back, the share of all cash buyers continues to decline.

  Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Aug-
2016
Aug-
2015
Aug-
2016
Aug-
2015
Aug-
2016
Aug-
2015
Aug-
2016
Aug-
2015
Las Vegas4.1%6.2%5.5%7.0%9.6%13.2%25.8%28.2%
Phoenix2.1%2.7%2.3%3.4%4.4%6.1%20.3%22.6%
Sacramento2.9%4.3%2.9%3.8%5.8%8.0%15.3%18.8%
Minneapolis1.1%1.7%3.8%6.1%4.9%7.8%12.1%11.7%
Mid-Atlantic2.8%3.2%8.6%10.5%11.4%13.7%16.7%16.5%
Florida SF2.1%3.5%8.0%16.6%10.1%20.2%27.3%33.6%
Florida C/TH1.4%2.3%7.3%15.3%8.6%17.6%55.0%59.7%
Miami MSA SF2.9%5.9%9.5%17.9%12.4%23.8%26.5%32.0%
Miami MSA C/TH1.7%3.0%10.0%19.2%11.7%22.2%56.1%62.9%
Chicago (city)        12.4%15.0%   
Northeast Florida        14.2%25.8%   
Rhode Island        8.0%10.1%   
Spokane        6.1%10.0%   
Toledo            24.9%30.3%
Tucson            20.9%25.8%
Knoxville            22.5%23.4%
Peoria            20.2%17.2%
Georgia***            19.8%21.9%
Omaha            15.2%16.9%
Pensacola            24.3%30.6%
Richmond VA    6.9%9.3%    16.0%16.0%
Memphis    8.6%12.2%       
Springfield IL**    6.8%6.6%       
*share of existing home sales, based on property records
**Single Family Only
***GAMLS