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Lawler: Updated Table of Distressed Sales and Cash buyers for Selected Cities in March

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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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