Economist Tom Lawler sent me the preliminary table below of short sales, foreclosures and cash buyers for several selected cities in June.
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 Nevada and 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 Share | Foreclosure Sales Share | Total “Distressed” Share | All Cash Share | |||||
|---|---|---|---|---|---|---|---|---|
| June-14 | June-13 | June-14 | June-13 | June-14 | June-13 | June-14 | June-13 | |
| Las Vegas | 10.8% | 31.0% | 10.1% | 9.0% | 20.9% | 40.0% | 34.7% | 55.3% |
| Reno** | 10.0% | 24.0% | 7.0% | 6.0% | 17.0% | 30.0% | ||
| Phoenix | 3.8% | 12.7% | 6.2% | 8.7% | 10.0% | 21.5% | 25.6% | 37.5% |
| Sacramento | 7.0% | 19.7% | 6.5% | 7.3% | 13.5% | 27.0% | 19.8% | 29.9% |
| Mid-Atlantic | 4.8% | 7.6% | 7.5% | 6.3% | 12.2% | 13.9% | 16.5% | 15.9% |
| Hampton Roads | 20.1% | 22.8% | ||||||
| Northeast Florida | 32.3% | 37.3% | ||||||
| Toledo | 28.4% | 31.5% | ||||||
| Des Moines | 14.9% | 17.5% | ||||||
| Tucson | 26.1% | 28.1% | ||||||
| Omaha | 16.3% | 14.9% | ||||||
| Georgia*** | 24.6% | N/A | ||||||
| Houston | 4.4% | 8.4% | ||||||
| Memphis* | 13.0% | 18.9% | ||||||
| Birmingham AL | 14.0% | 19.4% | ||||||
| Springfield IL** | 8.5% | 11.8% | ||||||
| *share of existing home sales, based on property records **Single Family Only ***GAMLS |
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