RSS Feed by Calculated Risk on 2/21/2014 02:45:00 PM
Friday, February 21, 2014
Lawler: Updated Table of Distressed Sales and Cash buyers for Selected Cities in January
Economist Tom Lawler sent me the updated table below of short sales, foreclosures and cash buyers for several selected cities in January.
Lawler writes:
The short-sales share of home sales is down in virtually all markets, and in most markets by a lot from a year ago. Note that the foreclosure sales share in Florida is up from a year ago.From CR: Total "distressed" share is down significantly in most of these markets, mostly because of a decline in short sales.
And foreclosures are down in all areas except Florida.
The All Cash Share (last two columns) is mostly declining year-over-year. As investors pull back in markets the share of all cash buyers will probably decline.
In general it appears the housing market is slowly moving back to normal.
| Short Sales Share | Foreclosure Sales Share | Total "Distressed" Share | All Cash Share | |||||
|---|---|---|---|---|---|---|---|---|
| Jan-14 | Jan-13 | Jan-14 | Jan-13 | Jan-14 | Jan-13 | Jan-14 | Jan-13 | |
| Las Vegas | 17.0% | 36.2% | 11.0% | 12.5% | 28.0% | 48.7% | 46.3% | 56.1% |
| Reno** | 16.0% | 41.0% | 9.0% | 10.0% | 25.0% | 51.0% | ||
| Phoenix | 6.8% | 17.6% | 9.6% | 16.2% | 16.5% | 33.8% | 36.3% | 44.1% |
| Sacramento | 11.8% | 30.3% | 8.4% | 14.2% | 20.2% | 44.5% | 26.6% | 37.4% |
| Minneapolis | 5.4% | 10.3% | 24.0% | 31.9% | 29.4% | 42.2% | ||
| Mid-Atlantic | 8.5% | 13.1% | 12.2% | 12.7% | 20.7% | 25.8% | 22.9% | 22.0% |
| Orlando | 11.7% | 23.9% | 25.7% | 26.7% | 37.4% | 50.6% | 49.2% | 55.3% |
| California * | 11.5% | 23.9% | 7.7% | 19.0% | 19.2% | 42.9% | ||
| Bay Area CA* | 10.5% | 22.6% | 5.4% | 14.1% | 15.9% | 36.7% | 24.8% | 28.4% |
| So. California* | 12.2% | 24.2% | 6.6% | 17.2% | 18.8% | 41.4% | 29.1% | 33.7% |
| Florida SF | 9.5% | 19.4% | 24.2% | 19.9% | 33.7% | 39.3% | 49.1% | 50.5% |
| Florida C/TH | 7.6% | 14.8% | 19.6% | 17.2% | 27.2% | 32.0% | 72.3% | 74.4% |
| Miami MSA SF | 13.9% | 21.9% | 18.2% | 14.9% | 32.1% | 36.8% | 49.2% | 48.9% |
| Miami MSA C/TH | 10.3% | 16.4% | 20.1% | 16.4% | 30.4% | 32.8% | 75.2% | 77.8% |
| Northeast Florida | 45.0% | 46.3% | ||||||
| Chicago | 11.0% | NA | 31.0% | NA | 42.0% | 49.0% | ||
| Hampton Roads | 29.5% | 34.9% | ||||||
| Toledo | 43.9% | 44.4% | ||||||
| Des Moines | 22.2% | 26.8% | ||||||
| Peoria | 35.9% | 20.8% | ||||||
| Tucson | 38.2% | 36.7% | ||||||
| Omaha | 26.4% | 21.3% | ||||||
| Georgia*** | 35.7% | NA | ||||||
| Houston | 9.2% | 19.6% | ||||||
| Memphis* | 19.1% | 25.9% | ||||||
| Birmingham AL | 26.0% | 30.2% | ||||||
| *share of existing home sales, based on property records **Single Family Only ***GAMLS | ||||||||
