Economist Tom Lawler sent me the updated table below of short sales, foreclosures and cash buyers for a few selected cities in November.
On distressed: Total “distressed” share is down in these markets mostly due to a decline in short sales (the Mid-Atlantic and Orlando were unchanged).
Short sales are down significantly in these areas.
Foreclosures are up in several areas (working through the logjam).
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 Share | Foreclosure Sales Share | Total “Distressed” Share | All Cash Share | |||||
|---|---|---|---|---|---|---|---|---|
| Nov-14 | Nov-13 | Nov-14 | Nov-13 | Nov-14 | Nov-13 | Nov-14 | Nov-13 | |
| Las Vegas | 9.5% | 21.0% | 8.7% | 7.0% | 18.2% | 28.0% | 32.8% | 43.7% |
| Reno** | 6.0% | 17.0% | 6.0% | 6.0% | 12.0% | 23.0% | ||
| Phoenix | 4.1% | 7.8% | 5.7% | 8.0% | 9.7% | 15.8% | 28.0% | 34.0% |
| Sacramento | 6.1% | 11.0% | 5.4% | 4.6% | 11.5% | 15.6% | 16.9% | 25.0% |
| Minneapolis | 3.1% | 5.0% | 10.2% | 16.9% | 13.4% | 21.9% | ||
| Mid-Atlantic | 4.7% | 7.5% | 11.0% | 8.1% | 15.7% | 15.7% | 19.1% | 19.6% |
| Orlando | 6.2% | 13.7% | 27.8% | 20.3% | 34.0% | 34.0% | 42.1% | 46.2% |
| So. California* | 6.2% | 10.5% | 5.3% | 6.3% | 11.5% | 16.8% | 23.9% | 28.1% |
| Northeast Florida | 29.7% | 38.1% | ||||||
| Chicago (City) | 20.2% | 32.8% | ||||||
| Hampton Roads | 20.4% | 26.9% | ||||||
| Toledo | 35.4% | 37.2% | ||||||
| Tucson | 26.3% | 32.2% | ||||||
| Des Moines | 19.3% | 19.9% | ||||||
| Peoria | 19.7% | 21.8% | ||||||
| Georgia*** | 26.5% | N/A | ||||||
| Omaha | 21.1% | 21.6% | ||||||
| Memphis* | 15.1% | 20.5% | ||||||
| Springfield IL** | 11.8% | 17.6% | ||||||
| *share of existing home sales, based on property records **Single Family Only ***GAMLS |
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