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

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Thursday:
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to increase to 273 thousand from 267 thousand.

• At 8:30 AM, Personal Income and Outlays for May. The consensus is for a 0.4% increase in personal income, and for a 0.7% increase in personal spending. And for the Core PCE price index to increase 0.1%.

• At 11:00 AM, the Kansas City Fed manufacturing survey for June.

Economist Tom Lawler sent me an undated table below of short sales, foreclosures and cash buyers for a few selected cities in May.

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 all of 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.

As Lawler noted last month: The Baltimore Metro area is included in the overall Mid-Atlantic region (covered by MRIS). Baltimore is shown 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 significant increase in foreclosure sales in the Baltimore Metro area.


  Short Sales Share Foreclosure Sales Share Total “Distressed” Share All Cash Share
May-15 May-14 May-15 May-14 May-15 May-14 May-15 May-14
Las Vegas 7.3% 7.9% 8.0% 9.1% 15.3% 17.0% 21.9% 40.2%
Reno** 5.0% 11.0% 4.0% 6.0% 9.0% 17.0%  
Phoenix 2.8% 3.9% 3.2% 6.7% 6.0% 10.7% 24.0% 29.5%
Sacramento 4.7% 7.0% 5.4% 8.3% 10.1% 15.3% 17.4% 20.5%
Minneapolis 2.4% 3.9% 6.6% 10.0% 9.0% 13.9%  
Mid-Atlantic 3.4% 5.2% 10.4% 8.1% 13.8% 13.3% 16.2% 17.2%
Baltimore MSA**** 3.6% 5.8% 16.3% 11.9% 19.8% 17.6%  
Orlando 3.9% 9.2% 22.8% 24.7% 26.7% 34.0% 33.9% 43.8%
Florida SF 5.3% 9.6% 25.7% 24.6% 31.0% 34.2% 43.4% 48.9%
Florida C/TH 3.2% 7.6% 20.6% 19.7% 23.9% 27.3% 69.5% 72.1%
Miami MSA SF 6.2% 9.6% 16.1% 16.4% 22.3% 26.0% 34.9% 42.6%
Miami MSA C/TH 3.2% 5.9% 17.6% 17.9% 20.8% 23.7% 65.8% 70.1%
Tampa MSA SF 4.3% 7.1% 20.0% 22.1% 24.3% 29.2% 35.3% 40.6%
Tampa MSA C/TH 3.0% 4.9% 13.6% 18.6% 16.6% 23.5% 57.5% 62.7%
Northeast Florida       26.7% 36.8%  
Chicago (city)       16.2% 21.6%  
Hampton Roads       17.4% 21.3%  
Spokane       12.8% 17.0%  
Hampton Roads       17.4% 21.3%  
Spokane       12.8% 17.0%  
Richmond VA MSA     8.5% 13.9%     14.9% 19.4%
Memphis     14.3% 15.6%     28.3% 31.6%
Springfield IL**     5.4% 8.7%      
Tucson           25.6% 31.3%
Toledo           26.1% 36.6%
Des Moines           14.0% 17.5%
Peoria           17.9% 19.6%
Georgia***           20.3% 26.0%
Omaha           15.9% 19.4%
Pensacola           31.3% 32.6%
Knoxville             20.5% 22.9%
*share of existing home sales, based on property records
**Single Family Only
***GAMLS
****Baltimore is included in the Mid-Atlantic region, but is shown separately here


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