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Monday, January 26, 2015

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

by Calculated Risk on 1/26/2015 05:05:00 PM

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

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

Short sales are down in these areas (except Sacramento).

Foreclosures are up in a few areas (working through the logjam, mostly in judicial states - especially in Florida).

The All Cash Share (last two columns) is mostly declining year-over-year.

  Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Dec-14Dec-13Dec-14Dec-13Dec-14Dec-13Dec-14Dec-13
Las Vegas10.0%20.7%8.0%8.5%18.0%29.2%34.1%44.4%
Reno**8.0%24.0%5.0%4.0%13.0%28.0%   
Phoenix4.6%9.5%5.2%7.5%9.8%17.1%29.2%34.6%
Sacramento6.2%6.1%7.1%5.4%13.3%11.5%15.4%**19.5%**
Minneapolis3.7%5.5%12.6%17.1%16.3%22.7%   
Mid-Atlantic 4.9%8.0%11.2%9.3%16.1%17.3%20.3%19.3%
Orlando4.8%13.5%26.7%19.1%31.5%32.7%40.0%45.0%
California *6.3%10.3%5.7%6.9%12.0%17.2%   
Bay Area CA*4.0%7.9%3.7%4.6%7.7%12.5%19.0%23.5%
So. California*6.2%10.2%5.0%5.8%11.2%16.0%23.8%28.8%
Tampa MSA SF6.2%11.9%23.4%18.2%29.6%30.1%36.9%42.0%
Tampa MSA C/TH3.3%8.4%18.4%15.8%21.7%24.2%60.3%62.8%
Tampa MSA C/TH3.3%8.4%18.4%15.8%21.7%24.2%60.3%62.8%
Florida SF5.3%11.0%21.8%19.5%27.1%30.5%38.4%42.5%
Florida C/TH3.3%9.0%17.6%16.0%20.9%25.1%65.3%68.4%
Northeast Florida        30.6%37.9%   
Hampton Roads        21.5%29.1%   
Tucson            28.7%32.3%
Toledo            37.9%36.5%
Wichita            26.8%30.2%
Des Moines            20.3%23.1%
Peoria            23.6%23.0%
Georgia***            25.5%N/A
Omaha            20.5%23.9%
Pensacola            33.1%35.5%
Knoxville            25.0%25.0%
Memphis*    15.0%21.0%       
Rhode Island            14.7%19.1%
*share of existing home sales, based on property records
**Single Family Only
***GAMLS