Tuesday, December 17, 2013

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

by Calculated Risk on 12/17/2013 05:41:00 PM

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

From CR: This is just a few markets, but total "distressed" share is down significantly, foreclosure are down in most areas, and short sales are off sharply year-over-year.


The All Cash Share (last two columns) is mostly declining year-over-year.  As investors pull back in markets (like Vegas and Phoenix) the share of all cash buyers will probably decline.

Note: Existing home sales for November will be released on Thursday, and Tom Lawler is projecting the NAR will report sales of 4.98 million on a seasonally adjusted annual rate basis. The consensus is for sales to decline to a 5.05 million SAAR, down from 5.12 SAAR in October.

Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Nov-13Nov-12Nov-13Nov-12Nov-13Nov-12Nov-13Nov-12
Las Vegas21.0%41.2%7.0%10.7%28.0%51.9%43.7%52.7%
Reno17.0%41.0%6.0%9.0%23.0%50.0%  
Phoenix7.8%23.2%8.0%12.9%15.8%36.1%34.0%43.2%
Sacramento11.0%36.1%4.6%11.5%15.6%47.6%25.0%37.1%
Minneapolis5.0%11.1%17.0%24.5%22.0%35.6%  
Mid-Atlantic7.5%11.9%8.1%8.7%15.7%20.6%19.6%20.0%
Orlando13.5%29.4%20.3%21.1%33.8%50.5%46.5%54.2%
California*12.3%26.2%6.8%16.9%19.1%43.1%  
Bay Area CA*9.1%23.2%3.7%12.5%12.8%35.7%22.0%28.9%
So. California*12.7%26.6%6.3%15.4%19.0%42.0%27.2%34.0%
Hampton Roads    26.9%28.3%  
Northeast Florida    36.4%41.8%  
Chicago    35.0%43.0%  
Tucson      32.2%0.338
Toledo      37.2%0.409
Des Moines      19.9%22.1%
Peoria      21.8%21.2%
Omaha      21.6%19.8%
Spokane  16.0%9.1%    
Houston  7.7%15.0%    
Memphis*  20.4%24.4%    
Birmingham AL  21.0%26.5%    
Springfield IL  17.0%15.8%    
*share of existing home sales, based on property records