Friday:
• At 8:30 AM ET, the Consumer Price Index for March from the BLS. The consensus is for a 0.3% increase in prices, and a 0.2% increase in core CPI.
• At 10:00 AM, University of Michigan’s Consumer sentiment index (preliminary for April). The consensus is for a reading of 93.7, up from 93.0 in March.
Economist Tom Lawler sent me the updated table below of short sales, foreclosures and cash buyers for a few selected cities in March.
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 foreclosure as lenders work through the backlog).
Short sales are down in 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 Share | Foreclosure Sales Share | Total “Distressed” Share | All Cash Share | |||||
|---|---|---|---|---|---|---|---|---|
| Mar-15 | Mar-14 | Mar-15 | Mar-14 | Mar-15 | Mar-14 | Mar-15 | Mar-14 | |
| Las Vegas | 8.3% | 12.9% | 9.3% | 11.7% | 17.6% | 24.6% | 32.4% | 43.1% |
| Reno** | 5.0% | 14.0% | 8.0% | 7.0% | 13.0% | 21.0% | ||
| Phoenix | 3.2% | 5.1% | 4.2% | 6.9% | 7.4% | 11.9% | 27.5% | 33.1% |
| Sacramento | 5.4% | 8.2% | 6.9% | 7.9% | 12.3% | 16.1% | 19.3% | 22.5% |
| Minneapolis | 2.9% | 4.9% | 12.2% | 21.9% | 15.1% | 26.8% | ||
| Mid-Atlantic | 4.7% | 7.7% | 14.0% | 10.9% | 18.8% | 18.5% | 18.2% | 19.9% |
| Orlando | 4.2% | 7.9% | 26.9% | 23.7% | 31.1% | 31.6% | 38.2% | 44.6% |
| Chicago (city) | 21.9% | 28.8% | ||||||
| Hampton Roads | 22.7% | 24.5% | ||||||
| Northeast Florida | 31.0% | 39.1% | ||||||
| Richmond VA | 11.9% | 18.1% | 18.0% | 21.1% | ||||
| Tucson | 32.0% | 33.5% | ||||||
| Toledo | 32.7% | 40.7% | ||||||
| Des Moines | 16.3% | 20.8% | ||||||
| Omaha | 16.1% | 20.3% | ||||||
| Wichita | 23.2% | 32.0% | ||||||
| Pensacola | 33.4% | 35.7% | ||||||
| Memphis* | 15.5% | 18.5% | ||||||
| Springfield IL** | 11.8% | 14.4% | ||||||
| *share of existing home sales, based on property records **Single Family Only ***GAMLS |
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