Economist Tom Lawler has been digging up similar data, and he sent me the following table today for several more distressed areas. For all of these areas the share of distressed sales is down from August 2011 - and for the areas that break out short sales, the share of short sales has increased (except Minneapolis) and the share of foreclosure sales are down - and down significantly in some areas.
Previous comments from Lawler:
Note that the distressed sales shares in the below table are based on MLS data, and often based on certain “fields” or comments in the MLS files, and some have questioned the accuracy of the data. Some MLS/associations only report on overall “distressed” sales.
| Short Sales Share | Foreclosure Sales Share | Total "Distressed" Share | ||||
|---|---|---|---|---|---|---|
| 12-Aug | 11-Aug | 12-Aug | 11-Aug | 12-Aug | 11-Aug | |
| Las Vegas | 43.7% | 21.7% | 16.9% | 50.2% | 60.6% | 71.9% |
| Reno | 38.0% | 30.0% | 13.0% | 31.0% | 51.0% | 61.0% |
| Phoenix | 29.4% | 25.2% | 14.0% | 41.5% | 43.4% | 66.7% |
| Sacramento | 35.4% | 23.6% | 16.6% | 38.4% | 52.0% | 62.0% |
| Minneapolis | 10.8% | 11.6% | 26.0% | 33.4% | 36.8% | 45.0% |
| Mid-Atlantic (MRIS) | 11.8% | 11.2% | 8.7% | 14.7% | 20.6% | 25.9% |
| Hampton Roads VA | 24.4% | 29.3% | ||||
| Charlotte | 13.6% | 19.0% | ||||
| Memphis | 28.7% | 31.5% | ||||
| Birmingham AL | 27.8% | 30.3% | ||||