Tuesday, January 14, 2014

Lawler: Updated Table of Distressed Sales and Cash buyers for Selected Cities in December

by Bill McBride on 1/14/2014 05:10:00 PM

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

From CR: This is just a few markets - still more to come - but total "distressed" share is down in all of these markets, and down significantly in most. This is mostly because of a decline in short sales.

And foreclosures are down in all of these areas too (except Springfield, Ill).

The All Cash Share (last two columns) is mostly declining year-over-year.  It appears investors are pulling back in markets like Las Vegas and SoCal - probably because of fewer distressed sales and higher prices.

Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Las Vegas20.7%45.8%8.5%9.5%29.2%55.3%44.4%55.2%
Mid-Atlantic 8.0%13.0%9.3%9.7%17.3%22.7%19.3%20.3%
So. California*13.2%26.7%5.8%14.2%19.0%40.9%27.7%35.8%
Hampton Roads    29.1%31.7%  
Northeast Florida    36.2%42.7%  
Toledo      36.5%41.6%
Tucson      32.3%33.1%
Des Moines      23.1%21.6%
Omaha      23.9%20.6%
Memphis*  21.0%25.6%    
Springfield IL**  17.7%14.2%    
*share of existing home sales, based on property records
**Single Family Only