Monday, August 29, 2016

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

by Bill McBride on 8/29/2016 03:11:00 PM

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

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

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
July-
2016
July-
2015
July-
2016
July-
2015
July-
2016
July-
2015
July-
2016
July-
2015
Las Vegas5.7%7.1%5.9%7.7%11.6%14.8%25.8%27.1%
Reno**3.0%3.0%1.0%2.0%4.0%5.0%   
Phoenix1.6%2.8%2.2%3.4%3.8%6.3%19.7%21.9%
Sacramento2.6%4.7%2.1%4.6%4.7%9.3%14.4%18.1%
Minneapolis1.0%2.0%3.6%5.5%4.6%7.5%11.3%11.7%
Mid-Atlantic2.7%3.4%7.6%9.4%10.4%12.8%15.0%15.8%
So. California*        4.9%7.1%19.6%21.6%
Bay Area CA*        3.2%4.7%18.6%20.1%
Florida SF2.4%3.4%8.0%16.3%10.4%19.7%26.6%32.6%
Florida C/TH1.6%2.4%7.0%15.2%8.6%17.6%53.7%59.1%
Miami MSA SF3.8%5.1%9.5%16.5%13.4%21.6%27.9%31.8%
Miami MSA C/TH1.7%3.5%9.5%18.8%11.2%22.2%56.7%61.9%
Tampa MSA SF2.8%3.6%8.3%16.4%11.1%20.0%25.7%33.9%
Tampa MSA C/TH1.6%2.0%6.7%14.8%8.3%16.8%50.2%56.1%
Chicago (city)        10.5%13.5%   
Northeast Florida        12.8%26.3%   
Spokane        5.7%9.1%   
Tucson            21.6%23.7%
Orlando            28.4%34.5%
Toledo            24.3%27.0%
S.C. Wisconsin            14.4%15.2%
Knoxville            20.6%21.8%
Peoria            22.7%15.6%
Georgia***            18.5%20.3%
Omaha            13.0%13.2%
Pensacola            28.0%28.5%
Rhode Island            7.8%8.8%
Richmond VA        6.0%8.4%15.9%18.1%
Memphis        8.1%12.8%   
Springfield IL**        6.3%4.7%   
*share of existing home sales, based on property records
**Single Family Only
***GAMLS