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Wednesday, August 26, 2015

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

by Calculated Risk on 8/26/2015 03:01:00 PM

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

On distressed: Total "distressed" share is down in most of these markets.  Distressed sales are up in the Mid-Atlantic due to an increase in foreclosures.

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.

  Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Jul-
2015
Jul-
2014
Jul-
2015
Jul-
2014
Jul-
2015
Jul-
2014
Jul-
2015
Jul-
2014
Las Vegas7.0%11.5%7.7%9.1%14.7%20.6%27.1%35.6%
Reno**3.0%4.0%2.0%8.0%5.0%12.0%   
Phoenix2.8%3.7%3.5%5.9%6.3%9.6%23.4%24.8%
Sacramento4.7%5.7%4.6%6.3%9.3%12.1%18.1%20.9%
Minneapolis1.9%3.1%5.4%9.3%7.3%12.4%   
Mid-Atlantic3.4%4.3%9.4%7.7%12.8%12.1%15.8%17.1%
Orlando3.7%8.3%20.1%24.4%23.8%32.7%34.5%39.3%
Bay Area CA*2.4%2.8%2.4%2.6%4.8%5.4%20.1%20.7%
So. California*3.2%4.3%3.9%4.6%7.1%8.9%21.7%25.1%
Florida SF3.3%5.9%16.3%20.7%19.6%26.6%32.8%37.7%
Florida C/TH2.4%19.1%15.2%19.1%17.6%38.1%59.2%64.3%
Chicago (city)        13.5%17.7%   
Hampton Roads        15.1%17.2%   
Spokane        9.0%12.2%   
Northeast Florida        26.4%31.0%   
Toledo            27.0%32.9%
Tucson            23.7%26.2%
Peoria            15.6%18.4%
Georgia***            20.3%24.1%
Omaha            13.9%17.0%
Knoxville            21.8%25.5%
Richmond VA MSA    8.4%12.1%    18.1%18.4%
Memphis    12.6%13.3%       
Springfield IL**    5.6%7.2%       
*share of existing home sales, based on property records
**Single Family Only
***GAMLS