Look at the two columns in the table for Total "Distressed" Share. In almost every area that has reported distressed sales so far, the share of distressed sales is down year-over-year - and down significantly in many areas.
Also there has been a decline in foreclosure sales in all of these cities. Also there has been a shift from foreclosures to short sales. In all of these areas - except Minneapolis- short sales now out number foreclosures.
| Short Sales Share | Foreclosure Sales Share | Total "Distressed" Share | All Cash Share | |||||
|---|---|---|---|---|---|---|---|---|
| May-13 | May-12 | May-13 | May-12 | May-13 | May-12 | Apr-13 | Apr-12 | |
| Las Vegas | 31.8% | 32.6% | 10.3% | 34.7% | 42.1% | 67.3% | 57.9% | 54.4% |
| Reno | 27.0% | 39.0% | 7.0% | 22.0% | 34.0% | 61.0% | ||
| Phoenix | 12.3% | 26.6% | 9.7% | 16.9% | 22.0% | 43.4% | 38.9% | 46.3% |
| Sacramento | 22.5% | 30.1% | 7.5% | 28.1% | 30.0% | 58.2% | 33.6% | 31.5% |
| Minneapolis | 6.8% | 10.6% | 20.1% | 28.8% | 26.9% | 39.4% | 18.7% | 20.1% |
| Mid-Atlantic (MRIS) | 8.2% | 11.8% | 7.2% | 10.2% | 15.5% | 22.1% | 16.7% | 17.2% |
| So. California* | 17.7% | 24.3% | 10.8% | 26.9% | 28.5% | 51.2% | 31.9% | 32.1% |
| Hampton Roads | 26.3% | 26.3% | ||||||
| Memphis* | 21.5% | 30.5% | ||||||
| Birmingham AL | 21.0% | 27.3% | ||||||
| *share of existing home sales, based on property records | ||||||||
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