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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