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Friday, December 13, 2013

Lawler: Update Table of Distressed Sales and Cash buyers for Selected Cities in November

by Calculated Risk on 12/13/2013 04:48:00 PM

Economist Tom Lawler sent me the updated table below of short sales, foreclosures and cash buyers for several selected cities in November.

From CR: This is just a few markets, but total "distressed" share is down significantly, mostly because of a decline in short sales.  Foreclosure are down in most areas too.


The All Cash Share (last two columns) is mostly declining year-over-year.  As investors pull back in markets (like Vegas and Phoenix) the share of all cash buyers will probably decline.

Note: Several key areas have not reported for November yet.   Existing home sales for November will be released next week on Thursday, and the consensus is for sales to decline to a 5.05 million seasonally adjusted annual rate (SAAR), down from 5.12 SAAR in October.

Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Nov-13Nov-12Nov-13Nov-12Nov-13Nov-12Nov-13Nov-12
Las Vegas21.0%41.2%7.0%10.7%28.0%51.9%43.7%52.7%
Reno17.0%41.0%6.0%9.0%23.0%50.0%
Phoenix7.8%23.2%8.0%12.9%15.8%36.1%34.0%43.2%
Minneapolis5.0%11.1%17.0%24.5%22.0%35.6%
Mid-Atlantic 7.5%11.9%8.1%8.7%15.7%20.6%19.6%20.0%
Toledo37.2%40.9%
Tuscon32.6%33.8%
Des Moines19.9%22.1%
Peoria21.8%21.2%
Omaha21.6%19.8%
Hampton Roads26.9%28.3%
Northeast Florida36.4%41.8%
Spokane16.0%9.1%
Memphis*20.4%24.4%
Birmingham AL21.0%26.5%
Springfield IL17.0%15.8%
*share of existing home sales, based on property records