Thursday, June 23, 2016

Lawler: Table of Distressed Sales and All Cash Sales for Selected Cities in May

by Bill McBride on 6/23/2016 02:09:00 PM

Economist Tom Lawler sent me the table below of short sales, foreclosures and all cash sales for selected cities in May.

On distressed: Total "distressed" share is down year-over-year in all of these markets.

Short sales and foreclosures are down in all of these areas.

The All Cash Share (last two columns) is mostly declining year-over-year. As investors continue to pull back, the share of all cash buyers continues to decline.

  Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
May-
2016
May-
2015
May-
2016
May-
2015
May-
2016
May-
2015
May-
2016
May-
2015
Las Vegas4.5%7.3%6.1%8.0%10.6%15.3%28.2%29.1%
Reno**3.0%5.0%3.0%4.0%6.0%9.0%   
Phoenix1.6%2.8%2.1%3.2%3.7%6.0%21.6%24.1%
Sacramento3.5%4.7%3.2%5.4%6.7%10.1%16.7%17.4%
Minneapolis1.2%2.4%5.5%6.7%6.7%9.1%11.6%12.0%
Mid-Atlantic2.9%3.4%8.8%10.4%11.7%13.8%15.0%16.1%
So. California*2.2%3.4%3.4%4.3%5.6%7.7%19.3%23.2%
Florida SF2.3%3.8%9.4%17.8%11.7%21.6%29.1%34.7%
Florida C/TH1.5%2.6%7.7%14.1%9.3%16.7%57.0%62.6%
Miami - Dade Co. SF3.8%8.8%16.4%18.2%20.2%27.0%31.3%33.0%
Miami - Dad Co. CTH2.6%4.0%15.1%19.0%17.7%23.0%62.0%62.7%
Broward Co. SF4.7%7.3%13.8%14.8%18.5%22.1%26.3%29.9%
Broward Co. CTH1.8%3.8%11.2%18.9%13.0%22.7%61.0%66.0%
Spokane        6.3%12.8%   
Chicago (city)        11.3%16.2%   
Northeast Florida        17.0%26.6%   
Tucson            22.6%25.6%
Toledo            26.9%28.5%
S.C. Wisconsin            14.6%15.6%
Knoxville            20.7%20.5%
Peoria            21.7%17.9%
Georgia***            20.8%20.3%
Omaha            13.2%15.9%
Pensacola            29.9%31.3%
Rhode Island        9.5%11.5%   
Richmond VA    7.5%8.5%    15.1%14.9%
Memphis    11.0%14.3%       
*share of existing home sales, based on property records
**Single Family Only
***GAMLS