Monday, December 15, 2014

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

by Bill McBride on 12/15/2014 06:25:00 PM

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

On distressed: Total "distressed" share is down in these markets mostly due to a decline in short sales (the Mid-Atlantic and Orlando were unchanged).

Short sales are down significantly in these areas.

Foreclosures are up in several areas (working through the logjam).

The All Cash Share (last two columns) is 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
Nov-14Nov-13Nov-14Nov-13Nov-14Nov-13Nov-14Nov-13
Las Vegas9.5%21.0%8.7%7.0%18.2%28.0%32.8%43.7%
Reno**6.0%17.0%6.0%6.0%12.0%23.0%   
Phoenix4.1%7.8%5.7%8.0%9.7%15.8%28.0%34.0%
Sacramento6.1%11.0%5.4%4.6%11.5%15.6%16.9%25.0%
Minneapolis3.1%5.0%10.2%16.9%13.4%21.9%   
Mid-Atlantic 4.7%7.5%11.0%8.1%15.7%15.7%19.1%19.6%
Orlando6.2%13.7%27.8%20.3%34.0%34.0%42.1%46.2%
So. California*6.2%10.5%5.3%6.3%11.5%16.8%23.9%28.1%
Northeast Florida        29.7%38.1%   
Chicago (City)        20.2%32.8%   
Hampton Roads        20.4%26.9%   
Toledo            35.4%37.2%
Tucson            26.3%32.2%
Des Moines            19.3%19.9%
Peoria            19.7%21.8%
Georgia***            26.5%N/A
Omaha            21.1%21.6%
Memphis*    15.1%20.5%       
Springfield IL**    11.8%17.6%       
*share of existing home sales, based on property records
**Single Family Only
***GAMLS