In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Friday, August 15, 2014

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

by Calculated Risk on 8/15/2014 04:15:00 PM

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

Comments from CR: Tom Lawler has been sending me this table every month for several years. I think it is very useful for looking at the trend for distressed sales and cash buyers in these areas. I sincerely appreciate Tom sharing this data with us!

On distressed: Total "distressed" share is down in all of these markets, mostly because of a sharp decline in short sales.

Short sales are down in all of these areas.

Foreclosures are down in most of these areas too, although foreclosures are up a little in few areas like Nevada, Sacramento and the Mid-Atlantic.

The All Cash Share (last two columns) is mostly declining year-over-year. As investors pull back, the share of all cash buyers will probably continue to decline.

  Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Las Vegas11.5%28.0%10.1%8.0%21.6%36.0%35.6%54.5%
Mid-Atlantic 4.3%6.6%7.7%6.6%12.1%13.2%17.1%16.1%
California *6.6%12.7%5.6%8.3%12.2%21.0% 
Bay Area CA*4.2%8.5%2.7%4.6%6.9%13.1%20.2%23.5%
So. California*5.9%12.7%5.2%7.7%11.1%20.4%24.5%30.0%
Hampton Roads        19.3%20.5% 
Northeast Florida        30.7%34.9% 
Memphis*    13.4%16.9%     
Georgia***            24.1%N/A
Toledo            32.9%35.0%
Wichita            28.0%24.1%
Des Moines            15.1%15.1%
Tucson            26.2%29.1%
Omaha            17.0%15.9%
Pensacola            32.9%30.0%
*share of existing home sales, based on property records
**Single Family Only