Monday, September 21, 2015

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

by Bill McBride on 9/21/2015 05:13:00 PM

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

On distressed: Total "distressed" share is down in most of these markets.  Distressed sales are up in the Mid-Atlantic due to 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.

  Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Jul-
2015
Aug-
2014
Aug-
2015
Aug-
2014
Aug-
2015
Aug-
2014
Aug-
2015
Aug-
2014
Las Vegas6.2%11.5%7.0%8.9%13.2%20.4%28.2%32.1%
Phoenix2.7%3.9%4.3%6.2%7.0%10.1%22.6%25.2%
Sacramento4.3%6.4%3.8%5.4%8.0%11.8%18.8%20.2%
Minneapolis1.7%2.5%6.0%8.1%7.6%10.6%
Mid-Atlantic3.2%4.1%10.5%8.9%13.7%13.0%16.5%17.5%
Orlando3.6%7.2%21.0%25.7%24.6%32.9%35.5%42.2%
Florida SF3.6%6.0%16.6%21.2%20.2%27.3%33.6%38.6%
Florida C/TH2.3%4.3%15.3%19.1%17.6%23.3%59.7%64.5%
Bay Area CA*2.3%2.6%2.2%2.6%4.5%5.2%21.3%22.5%
So. California*3.2%4.2%3.9%4.3%7.1%8.5%21.8%24.9%
Rhode Island9.9%12.5%
Chicago (city)15.0%17.2%
Hampton Roads14.6%18.6%
Spokane10.1%11.1%
Northeast Florida26.2%32.5%
Toledo30.3%32.2%
Wichita22.4%25.7%
Tucson25.8%26.0%
Peoria17.3%21.3%
Georgia***21.9%26.8%
Omaha16.9%18.3%
Pensacola30.6%32.7%
Richmond VA 9.3%9.5%16.0%17.9%
Memphis11.8%11.1%
Springfield IL**5.9%6.8%
*share of existing home sales, based on property records
**Single Family Only
***GAMLS