Monday, July 25, 2016

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

by Bill McBride on 7/25/2016 02:50:00 PM

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

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
June-
2016
June-
2015
June-
2016
June-
2015
June-
2016
June-
2015
June-
2016
June-
2015
Las Vegas4.4%6.7%5.9%7.6%10.3%14.3%27.0%28.4%
Reno**3.0%5.0%2.0%3.0%5.0%8.0%   
Phoenix1.6%2.8%1.9%3.6%3.4%6.4%20.9%23.1%
Sacramento2.8%5.8%2.6%4.6%5.4%10.4%16.1%17.8%
Minneapolis1.2%2.0%3.8%5.7%5.0%7.7%10.9%12.1%
Mid-Atlantic2.7%3.1%8.1%8.7%10.8%11.7%14.4%15.2%
Florida SF2.2%3.5%8.0%16.6%10.2%20.1%27.2%33.3%
Florida C/TH1.4%2.4%7.1%14.8%8.6%17.2%54.5%60.9%
Miami MSA SF3.2%6.0%9.5%17.2%12.7%23.3%28.8%34.8%
Miami MSA C/TH1.8%2.9%10.3%19.3%12.1%22.2%58.8%62.9%
So. California*        5.3%6.9%   
Bay Area CA*        2.2%4.3%   
Chicago (city)        9.8%12.4%   
Spokane        7.6%10.8%   
Rhode Island        9.2%10.4%   
Northeast Florida        15.1%25.4%   
Orlando            27.9%35.8%
Tucson            23.1%26.5%
Toledo            23.2%27.0%
S.C. Wisconsin            14.1%14.3%
Knoxville            18.9%18.9%
Peoria            15.6%16.1%
Georgia***            18.1%20.3%
Omaha            15.1%14.6%
Pensacola            25.3%31.6%
Richmond VA    5.6%7.6%    13.5%13.8%
Memphis    9.0%11.4%       
Springfield IL**    4.7%5.6%       
*share of existing home sales, based on property records
**Single Family Only
***GAMLS