RSS Feed by Calculated Risk on 6/24/2015 07:24:00 PM
Wednesday, June 24, 2015
Lawler: Updated Table of Distressed Sales and Cash buyers for Selected Cities in May
Thursday:
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to increase to 273 thousand from 267 thousand.
• At 8:30 AM, Personal Income and Outlays for May. The consensus is for a 0.4% increase in personal income, and for a 0.7% increase in personal spending. And for the Core PCE price index to increase 0.1%.
• At 11:00 AM, the Kansas City Fed manufacturing survey for June.
Economist Tom Lawler sent me an undated table below of short sales, foreclosures and cash buyers for a few selected cities in May.
On distressed: Total "distressed" share is down in most of these markets mostly due to a decline in short sales (Mid-Atlantic is up year-over-year because of an increase in foreclosures in Baltimore).
Short sales are down in all of these areas.
The All Cash Share (last two columns) is declining year-over-year. As investors pull back, the share of all cash buyers will probably continue to decline.
As Lawler noted last month: The Baltimore Metro area is included in the overall Mid-Atlantic region (covered by MRIS). Baltimore is shown separately because a large portion of the YOY increase in the foreclosure share of home sales in the Mid-Atlantic region was attributable to the significant increase in foreclosure sales in the Baltimore Metro area.
| Short Sales Share | Foreclosure Sales Share | Total "Distressed" Share | All Cash Share | |||||
|---|---|---|---|---|---|---|---|---|
| May-15 | May-14 | May-15 | May-14 | May-15 | May-14 | May-15 | May-14 | |
| Las Vegas | 7.3% | 7.9% | 8.0% | 9.1% | 15.3% | 17.0% | 21.9% | 40.2% |
| Reno** | 5.0% | 11.0% | 4.0% | 6.0% | 9.0% | 17.0% | ||
| Phoenix | 2.8% | 3.9% | 3.2% | 6.7% | 6.0% | 10.7% | 24.0% | 29.5% |
| Sacramento | 4.7% | 7.0% | 5.4% | 8.3% | 10.1% | 15.3% | 17.4% | 20.5% |
| Minneapolis | 2.4% | 3.9% | 6.6% | 10.0% | 9.0% | 13.9% | ||
| Mid-Atlantic | 3.4% | 5.2% | 10.4% | 8.1% | 13.8% | 13.3% | 16.2% | 17.2% |
| Baltimore MSA**** | 3.6% | 5.8% | 16.3% | 11.9% | 19.8% | 17.6% | ||
| Orlando | 3.9% | 9.2% | 22.8% | 24.7% | 26.7% | 34.0% | 33.9% | 43.8% |
| Florida SF | 5.3% | 9.6% | 25.7% | 24.6% | 31.0% | 34.2% | 43.4% | 48.9% |
| Florida C/TH | 3.2% | 7.6% | 20.6% | 19.7% | 23.9% | 27.3% | 69.5% | 72.1% |
| Miami MSA SF | 6.2% | 9.6% | 16.1% | 16.4% | 22.3% | 26.0% | 34.9% | 42.6% |
| Miami MSA C/TH | 3.2% | 5.9% | 17.6% | 17.9% | 20.8% | 23.7% | 65.8% | 70.1% |
| Tampa MSA SF | 4.3% | 7.1% | 20.0% | 22.1% | 24.3% | 29.2% | 35.3% | 40.6% |
| Tampa MSA C/TH | 3.0% | 4.9% | 13.6% | 18.6% | 16.6% | 23.5% | 57.5% | 62.7% |
| Northeast Florida | 26.7% | 36.8% | ||||||
| Chicago (city) | 16.2% | 21.6% | ||||||
| Hampton Roads | 17.4% | 21.3% | ||||||
| Spokane | 12.8% | 17.0% | ||||||
| Hampton Roads | 17.4% | 21.3% | ||||||
| Spokane | 12.8% | 17.0% | ||||||
| Richmond VA MSA | 8.5% | 13.9% | 14.9% | 19.4% | ||||
| Memphis | 14.3% | 15.6% | 28.3% | 31.6% | ||||
| Springfield IL** | 5.4% | 8.7% | ||||||
| Tucson | 25.6% | 31.3% | ||||||
| Toledo | 26.1% | 36.6% | ||||||
| Des Moines | 14.0% | 17.5% | ||||||
| Peoria | 17.9% | 19.6% | ||||||
| Georgia*** | 20.3% | 26.0% | ||||||
| Omaha | 15.9% | 19.4% | ||||||
| Pensacola | 31.3% | 32.6% | ||||||
| Knoxville | 20.5% | 22.9% | ||||||
| *share of existing home sales, based on property records **Single Family Only ***GAMLS ****Baltimore is included in the Mid-Atlantic region, but is shown separately here | ||||||||
