Thursday, May 21, 2015

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

by Bill McBride on 5/21/2015 03:26:00 PM

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

On distressed: Total "distressed" share is down in most of these markets mostly due to a decline in short sales (Mid-Atlantic is up year-over-year because of an increase in foreclosures in Baltimore).

Short sales are down in these areas.

The All Cash Share (last two columns) is declining year-over-year. As investors pull back, the share of all cash buyers has been declining.

  Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Apr-15Apr-14Apr-15Apr-14Apr-15Apr-14Apr-15Apr-14
Las Vegas7.2%12.4%8.3%11.4%15.5%23.8%30.4%41.4%
Reno**6.0%15.0%5.0%6.0%11.0%21.0%   
Phoenix2.5%4.0%3.8%6.5%6.3%10.5%25.3%32.2%
Sacramento5.6%9.5%6.6%7.5%12.2%17.0%18.4%21.9%
Minneapolis2.9%5.1%9.2%16.0%12.0%21.1%   
Mid-Atlantic4.5%5.9%12.9%10.0%17.3%15.9%17.2%19.5%
Orlando4.8%9.1%24.7%23.7%29.5%32.8%37.4%42.4%
Florida SF4.0%6.9%19.1%21.1%23.1%28.0%37.2%43.4%
Florida C/TH2.0%4.5%14.6%15.6%16.6%20.1%65.4%70.9%
Miami MSA SF6.2%10.5%18.4%16.5%24.7%27.0%37.8%44.4%
Miami MSA C/TH2.3%5.5%18.2%17.5%20.6%23.0%68.9%73.4%
Tampa MSA SF4.5%7.0%20.3%23.2%24.8%30.1%34.5%41.6%
Tampa MSA C/TH2.9%4.6%15.5%18.8%18.4%23.3%60.8%66.7%
So. California*4.4%5.0%4.5%5.2%8.9%10.2%   
Chicago (city)        20.3%27.3%   
Hampton Roads        22.2%24.4%   
Northeast Florida        28.9%38.0%   
Hampton Roads        22.2%24.4%   
Tucson            27.1%30.5%
Toledo            30.2%33.4%
Wichita            19.8%25.1%
Des Moines            13.8%17.1%
Peoria            17.3%21.2%
Georgia***            21.6%34.3%
Omaha            16.4%22.3%
Pensacola            32.3%35.6%
Knoxville            23.1%25.3%
Richmond VA MSA    11.5%15.4%    18.2%22.5%
Memphis    16.1%17.3%       
Springfield IL**    10.3%13.2%    17.9%N/A
*share of existing home sales, based on property records
**Single Family Only
***GAMLS