Monday, August 29, 2016

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

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

On distressed: Total "distressed" share is down year-over-year in all of these markets (except Springfield).

Short sales and foreclosures are down in all of these areas.

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

  Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
July-
2016
July-
2015
July-
2016
July-
2015
July-
2016
July-
2015
July-
2016
July-
2015
Las Vegas5.7%7.1%5.9%7.7%11.6%14.8%25.8%27.1%
Reno**3.0%3.0%1.0%2.0%4.0%5.0%   
Phoenix1.6%2.8%2.2%3.4%3.8%6.3%19.7%21.9%
Sacramento2.6%4.7%2.1%4.6%4.7%9.3%14.4%18.1%
Minneapolis1.0%2.0%3.6%5.5%4.6%7.5%11.3%11.7%
Mid-Atlantic2.7%3.4%7.6%9.4%10.4%12.8%15.0%15.8%
So. California*        4.9%7.1%19.6%21.6%
Bay Area CA*        3.2%4.7%18.6%20.1%
Florida SF2.4%3.4%8.0%16.3%10.4%19.7%26.6%32.6%
Florida C/TH1.6%2.4%7.0%15.2%8.6%17.6%53.7%59.1%
Miami MSA SF3.8%5.1%9.5%16.5%13.4%21.6%27.9%31.8%
Miami MSA C/TH1.7%3.5%9.5%18.8%11.2%22.2%56.7%61.9%
Tampa MSA SF2.8%3.6%8.3%16.4%11.1%20.0%25.7%33.9%
Tampa MSA C/TH1.6%2.0%6.7%14.8%8.3%16.8%50.2%56.1%
Chicago (city)        10.5%13.5%   
Northeast Florida        12.8%26.3%   
Spokane        5.7%9.1%   
Tucson            21.6%23.7%
Orlando            28.4%34.5%
Toledo            24.3%27.0%
S.C. Wisconsin            14.4%15.2%
Knoxville            20.6%21.8%
Peoria            22.7%15.6%
Georgia***            18.5%20.3%
Omaha            13.0%13.2%
Pensacola            28.0%28.5%
Rhode Island            7.8%8.8%
Richmond VA        6.0%8.4%15.9%18.1%
Memphis        8.1%12.8%   
Springfield IL**        6.3%4.7%   
*share of existing home sales, based on property records
**Single Family Only
***GAMLS