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Lawler: Preliminary Table of Distressed Sales and Cash buyers for Selected Cities in April

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Economist Tom Lawler sent me the preliminary table below of short sales, foreclosures and cash buyers for a few selected cities in April.

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 in foreclosures in Baltimore).

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.

From Lawler: Note: The Baltimore Metro area is included in the overall Mid-Atlantic region (covered by MRIS). I am showing it separately because a large portion of the YOY increase in the foreclosure share of home sales in the Mid-Atlantic region was attributable to the almost 85% YOY increase in foreclosure sales in the Baltimore Metro area.


  Short Sales Share Foreclosure Sales Share Total “Distressed” Share All Cash Share
Apr-15 Apr-14 Apr-15 Apr-14 Apr-15 Apr-14 Apr-15 Apr-14
Las Vegas 7.2% 12.4% 8.3% 11.4% 15.5% 23.8% 30.4% 41.4%
Reno** 6.0% 15.0% 5.0% 6.0% 11.0% 21.0%    
Phoenix 2.5% 4.0% 3.8% 6.5% 6.3% 10.5% 25.3% 32.2%
Minneapolis 2.9% 5.1% 9.2% 16.0% 12.0% 21.1%    
Mid-Atlantic 4.5% 5.9% 12.9% 10.0% 17.3% 15.9% 17.2% 19.5%
Baltimore Metro 4.3% 5.8% 20.7% 13.8% 25.0% 19.6%    
Orlando 4.8% 9.1% 24.7% 23.7% 29.5% 32.8% 37.4% 42.4%
Chicago (city)         20.3% 27.3%    
Hampton Roads         22.2% 24.4%    
Chicago (city)         20.3% 27.3%    
Northeast Florida         28.9% 38.0%    
Toledo             30.2% 33.4%
Tucson             27.1% 30.5%
Des Moines             13.8% 17.1%
Peoria             17.3% 21.2%
Georgia***             21.6% 34.3%
Omaha             16.4% 19.7%
Richmond VA MSA     11.5% 15.4%     18.2% 22.5%
Memphis     16.1% 17.3%        
Springfield IL**     10.3% 13.2%     17.9% N/A
*share of existing home sales, based on property records
**Single Family Only
***GAMLS


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