Wednesday, August 05, 2015

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

by Bill McBride on 8/05/2015 01:45:00 PM

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

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

Short sales are down in all of these areas.

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.

As Lawler noted earlier: The Baltimore Metro area is included in the overall Mid-Atlantic region (covered by MRIS). Baltimore is also shown separately because a large portion of the YOY increase in the foreclosure share of home sales in the Mid-Atlantic region was attributable to the significant increase in foreclosure sales in the Baltimore Metro area.

  Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Jun-
2015
Jun-
2014
Jun-
2015
Jun-
2014
Jun-
2015
Jun-
2014
Jun-
2015
Jun-
2014
Las Vegas6.7%10.8%7.6%10.1%14.3%20.9%28.4%34.7%
Reno**5.0%10.0%3.0%7.0%8.0%17.0%   
Phoenix2.8%3.8%3.6%6.2%6.4%10.0%23.0%26.6%
Sacramento5.8%7.0%4.6%6.5%10.4%13.6%17.8%19.8%
Minneapolis2.0%3.0%5.6%9.7%7.6%12.7%   
Mid-Atlantic3.1%4.8%8.7%7.4%11.7%12.2%15.2%16.5%
Baltimore MSA****3.1%4.3%14.3%10.7%17.4%15.0%20.7%19.8%
Orlando3.7%7.8%24.9%26.5%28.6%34.3%35.7%40.5%
Tampa MSA SF3.7%6.4%17.4%21.3%21.1%27.6%33.1%36.3%
Tampa MSA C/TH2.5%4.2%12.1%17.0%14.6%21.2%57.1%60.4%
Miami MSA SF5.8%8.7%17.1%17.6%22.9%26.3%34.9%41.9%
Miami MSA C/TH2.9%5.3%19.2%19.6%22.2%24.8%63.1%68.9%
Florida SF3.4%5.9%16.5%20.3%20.0%26.2%33.4%39.3%
Florida C/TH2.4%4.4%14.6%17.5%17.1%21.9%60.9%65.8%
Bay Area CA*2.1%3.0%1.9%2.8%4.0%5.8%20.0%21.6%
So. California*3.1%4.6%3.8%4.7%6.9%9.3%22.3%25.9%
Chicago (city)        12.4%18.7%   
Hampton Roads        16.6%20.1%   
Northeast Florida        25.6%32.4%   
Spokane        10.7%14.1%   
Tucson            25.1%26.1%
Toledo            27.0%28.4%
Wichita            21.9%22.6%
Des Moines            14.4%14.6%
Peoria            16.1%21.3%
Georgia***            20.3%24.6%
Omaha            14.6%16.3%
Pensacola            31.6%30.5%
Knoxville            18.9%22.9%
Richmond VA MSA    7.1%9.7%    13.8%16.1%
Memphis    11.4%12.4%       
Springfield IL**    5.1%8.4%       
*share of existing home sales, based on property records
**Single Family Only
***GAMLS
****Baltimore is included in the Mid-Atlantic region, but is shown separately here