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Monday, October 19, 2015

Lawler: Preliminary Table of Distressed Sales and Cash buyers for Selected Cities in September

by Calculated Risk on 10/19/2015 02:34:00 PM

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

On distressed: Total "distressed" share is down in most of these markets.  Distressed sales are up in the Baltimore 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
Sep-
2015
Sep-
2014
Sep-
2015
Sep-
2014
Sep-
2015
Sep-
2014
Sep-
2015
Sep-
2014
Las Vegas6.8%10.4%7.1%8.8%13.9%19.2%26.8%34.3%
Reno**3.0%7.0%3.0%7.0%6.0%14.0%   
Phoenix2.4%3.8%3.5%5.8%5.9%9.6%22.5%25.7%
Sacramento2.9%5.3%4.1%5.3%6.9%10.7%17.6%19.4%
Minneapolis1.8%3.4%6.5%9.6%8.3%13.0%   
Mid-Atlantic3.9%5.5%11.1%9.7%14.9%15.2%17.5%19.1%
Baltimore MSA****4.3%5.6%18.6%15.4%22.9%21.0%   
Orlando3.5%7.1%20.1%24.8%23.6%31.8%35.6%41.7%
Chicago (city)        17.5%18.8%   
Hampton Roads        15.6%19.6%   
Spokane        7.8%12.6%   
Northeast Florida        23.8%29.7%   
Chicago (city)        17.5%18.8%   
Colorado*****        1.8%3.7%   
Toledo            26.5%31.4%
Tucson            25.9%26.7%
Georgia***            22.3%27.4%
Omaha            18.1%19.9%
Pensacola            31.4%29.2%
Tucson            25.9%26.7%
Richmond MSA    10.5%11.7%    15.2%18.4%
Memphis*    13.1%13.2%       
Springfield IL**    10.1%9.5%       
*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
*****As tabulated by the Colorado Association of Realtors