RSS Feed by Calculated Risk on 10/20/2014 04:22:00 PM
Monday, October 20, 2014
Lawler: Updated Table of Distressed and All-Cash Share for September
CR Note: Existing Home Sales for September will be released tomorrow by the National Association of Realtors (NAR). The consensus is for sales of 5.09 million on seasonally adjusted annual rate (SAAR) basis. Sales in August were at a 5.05 million SAAR. Economist Tom Lawler estimates the NAR will report sales of 5.14 million SAAR.
Housing economist Tom Lawler sent me the updated table below of short sales, foreclosures and cash buyers for several selected cities in September. Lawler notes: "Note the jump in the foreclosure sales share in Orlando."
On distressed: Total "distressed" share is down in these markets due to a decline in short sales.
Short sales are down in all these areas.
Foreclosures are up slightly in several of these areas - and up significantly in Orlando.
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 Share | Foreclosure Sales Share | Total "Distressed" Share | All Cash Share | |||||
|---|---|---|---|---|---|---|---|---|
| Sep-14 | Sep-13 | Sep-14 | Sep-13 | Sep-14 | Sep-13 | Sep-14 | Sep-13 | |
| Las Vegas | 10.4% | 23.0% | 8.8% | 7.0% | 19.2% | 30.0% | 34.3% | 47.2% |
| Reno** | 7.0% | 20.0% | 7.0% | 5.0% | 14.0% | 25.0% | ||
| Phoenix | 3.8% | 8.8% | 5.8% | 8.0% | 9.6% | 16.8% | 25.7% | 33.4% |
| Sacramento | 5.3% | 12.1% | 6.5% | 3.9% | 11.8% | 16.0% | 19.4% | 23.6% |
| Minneapolis | 3.4% | 6.0% | 9.4% | 16.0% | 12.8% | 22.0% | ||
| Mid-Atlantic | 5.5% | 7.7% | 9.7% | 8.2% | 15.2% | 15.9% | 19.1% | 18.4% |
| Orlando | 7.1% | 18.0% | 24.8% | 18.0% | 31.8% | 36.0% | 41.9% | 43.5% |
| California * | 5.9% | 10.8% | 5.3% | 7.1% | 11.2% | 17.9% | ||
| Bay Area CA* | 3.6% | 7.5% | 2.8% | 3.6% | 6.4% | 11.1% | 20.9% | 23.3% |
| So. California* | 6.0% | 10.9% | 4.7% | 6.4% | 10.7% | 17.3% | 24.3% | 28.7% |
| Hampton Roads | 19.6% | 26.1% | ||||||
| Tucson | 26.7% | 29.8% | ||||||
| Toledo | 31.4% | 38.1% | ||||||
| Wichita | 27.8% | 28.6% | ||||||
| Des Moines | 16.8% | 19.2% | ||||||
| Peoria | 24.7% | 20.7% | ||||||
| Georgia*** | 27.4% | N/A | ||||||
| Omaha | 19.9% | 19.1% | ||||||
| Pensacola | 29.2% | 27.3% | ||||||
| Memphis* | 11.7% | 16.5% | ||||||
| Springfield IL** | 9.5% | 14.1% | 22.6% | N/A | ||||
| *share of existing home sales, based on property records **Single Family Only ***GAMLS | ||||||||
