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

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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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