Saturday, November 15, 2014

Lawler: Preliminary Table of Distressed Sales and Cash buyers for Selected Cities in October

by Bill McBride on 11/15/2014 08:11:00 AM

Economist Tom Lawler sent me the table below of short sales, foreclosures and cash buyers for a few selected cities in October.

On distressed: Total "distressed" share is down in these markets mostly due to a decline in short sales.

Short sales are down significantly in these areas.

Foreclosures are up slightly in several of these areas.

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

  Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Oct-14Oct-13Oct-14Oct-13Oct-14Oct-13Oct-14Oct-13
Las Vegas10.6%21.0%8.9%6.0%19.5%27.0%35.1%44.9%
Reno**6.0%16.0%4.0%4.0%10.0%20.0%   
Phoenix3.7%8.4%6.2%6.9%9.9%15.3%27.7%31.6%
Sacramento6.1%13.7%6.3%5.9%12.4%19.6%20.6%23.9%
Minneapolis2.7%5.1%9.8%16.4%12.5%21.5%   
Mid-Atlantic 4.8%8.2%10.0%7.9%14.9%16.1%19.2%19.9%
California *6.1%10.3%5.3%6.7%11.4%17.0%   
Bay Area CA*3.5%7.3%2.7%3.7%6.2%11.0%   
So. California*5.9%10.8%4.8%6.3%10.7%17.1%   
Hampton Roads        19.7%25.5%   
Northeast Florida        30.0%38.2%   
Toledo            38.2%37.1%
Tucson            26.8%32.1%
Des Moines            18.8%20.2%
Peoria            22.8%21.1%
Georgia***            27.8%N/A
Pensacola            33.5%33.7%
Memphis*    13.3%19.8%       
Birmingham AL    15.2%21.0%       
*share of existing home sales, based on property records
**Single Family Only
***GAMLS