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Wednesday, August 21, 2013

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

by Calculated Risk on 8/21/2013 06:32:00 PM

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

From CR: Look at the two columns in the table for Total "Distressed" Share.  The share of distressed sales is down year-over-year in every area. 

Also there has been a decline in foreclosure sales in all of these areas (except Springfield, Ill).  

And short sales are now declining year-over-year too!  This is a recent change - short sales had been increasing year-over-year, but it looks like both categories of distressed sales are now declining.

The All Cash Share is mostly staying steady or declining slightly.  The all cash share will probably decline as investors decrease their buying.

 Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Las Vegas28.0%40.0%8.0%20.7%36.0%60.7%54.5%54.8%
Mid-Atlantic 7.2%11.3%6.6%8.7%13.8%20.0%16.1%17.9%
California (DQ)*14.6%26.0%8.4%21.7%23.0%47.7%  
Bay Area CA (DQ)*10.0%23.7%4.8%15.1%14.8%38.8%24.0%27.6%
So. California (DQ)*14.5%26.2%7.8%20.7%22.3%46.9%29.4%31.8%
Florida SF13.8%21.6%15.9%17.5%29.7%39.2%42.5%42.8%
Florida C/TH11.0%19.2%15.4%17.5%26.5%36.8%70.0%72.9%
Miami MSA SF17.4%23.0%12.6%16.5%30.0%39.5%44.0%43.1%
Miami MSA C/TH12.8%20.5%17.5%19.6%30.3%40.1%75.5%78.3%
Northeast Florida    32.5%42.6%  
Chicago    29.0%36.0%  
Rhode Island    13.9%24.7%  
Charlotte    9.5%13.8%  
Toledo      35.0%36.5%
Wichita      24.1%25.3%
Knoxville      25.7%26.5%
Des Moines      15.1%18.0%
Peoria      18.6%20.7%
Tucson      29.1%33.1%
Omaha      15.9%15.6%
Pensacola      30.0%31.2%
Akron      25.5%30.0%
Houston  7.8%16.3%    
Memphis*  16.7%26.9%    
Birmingham AL  17.2%27.2%    
Springfield IL  13.1%13.0%    
*share of existing home sales, based on property records