Monday, April 22, 2013

Lawler on Housing: Table of Cash Buyers in March, Updated Table of Short Sales and Foreclosures for Selected Cities

by Bill McBride on 4/22/2013 05:58:00 PM

Economist Tom Lawler sent me the following table of cash buyers for selected cities in March 2013 compared to March 2012.  This suggests significant investor buying in certain areas (like Florida):

All-Cash Share of Home Sales
  Mar-13Mar-12
Las Vegas57.5%54.5%
Orlando55.2%52.9%
Metro Detroit45.5%N/A
Memphis41.2%41.0%
Toledo38.9%40.3%
Phoenix41.5%49.8%
Sacramento36.4%32.0%
So. Cal (DQ)34.1%32.4%
Wichita27.9%30.2%
Knoxville27.4%28.4%
Des Moines19.1%21.7%
Bay Area Cal (DQ)31.1%29.4%
Mid-Atlantic20.6%20.8%
Florida SF48.4%47.1%
Florida C/TH75.2%77.8%
Miami-FL-PB MSA SF45.5%46.4%
Miami-FL-PB MSA C/TH79.6%82.1%
Tucson35.0%38.3%
Omaha22.1%15.7%
Pensacola35.9%32.1%
Akron34.1%38.7%


Lawler also sent me the updated table below of short sales and foreclosures for several selected cities in March.  Note the declines in total distressed sales and foreclosure sales.

 Short Sales ShareForeclosure Sales ShareTotal "Distressed" Share
13-Mar12-Mar13-Mar12-Mar13-Mar12-Mar
Las Vegas33.3%26.6%11.2%40.7%44.5%67.3%
Reno32.0%34.0%9.0%32.0%41.0%66.0%
Phoenix15.1%25.7%11.6%21.1%26.8%46.8%
Sacramento27.0%29.0%10.5%30.7%37.5%59.7%
Minneapolis9.3%12.4%28.6%36.5%37.9%48.9%
Mid-Atlantic (MRIS)11.4%13.2%10.7%14.7%22.1%27.9%
Orlando21.7%33.1%21.3%26.0%43.1%59.2%
California (DQ)*21.5%24.5%15.2%32.8%36.7%57.3%
Bay Area CA (DQ)*10.7%25.5%19.0%23.8%29.7%49.3%
So. California (DQ)*21.5%24.6%13.9%31.5%35.4%56.1%
Florida SF15.9%21.8%16.4%19.4%32.3%41.1%
Florida C/TH11.4%18.1%14.1%16.0%25.5%34.2%
Miami MSA SF20.6%24.1%11.9%18.7%32.5%42.7%
Miami MSA C/TH13.7%20.2%14.5%16.7%28.2%36.9%
Northeast Florida       40.0%43.2%
Chicago    43.0%46.0%
Hampton Roads    28.4%33.5%
Charlotte    12.3%15.8%
Sarasota    30.0%32.0%
Metro Detroit  35.4%46.6%  
Houston  12.3%19.6%  
Memphis*  26.8%32.7%  
*share of existing home sales, based on property records

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