Lawler: July Existing Home Sales "up significantly" from June; Updated Table of Distressed Sales and Cash buyers

Economist Tom Lawler noted today:

While I have not seen enough local realtor/MLS reports to derive an accurate estimate of existing home sales as measured by the National Association of Realtors, the data I have seen so far strongly suggest that July existing home sales on a seasonally adjusted basis will be up significantly from June’s disappointing pace.

Lawler also sent the updated table below of short sales, foreclosures and cash buyers for several selected cities in July.

From CR: Look at the two columns in the table for Total "Distressed" Share. In every area that has reported distressed sales so far, the share of distressed sales is down significantly year-over-year. 

Also there has been a decline in foreclosure sales in all of these cities, except Springfield, IL .  

And short sales are declining year-over-year too!  This is a recent change - short sales had been increasing year-over-year, but it looks like both categories of distressed sales are now declining.

The All Cash Share appears to be starting to decline.  The all cash share will probably decline further as investors buying declines

	Short Sales Share		Foreclosure Sales Share		Total "Distressed" Share		All Cash Share
	Jul-13	Jul-12	Jul-13	Jul-12	Jul-13	Jul-12	Jul-13	Jul-12
Las Vegas	28.0%	40.0%	8.0%	20.7%	36.0%	60.7%	54.5%	54.8%
Reno	21.0%	38.0%	7.0%	15.0%	28.0%	53.0%
Phoenix	11.5%	29.5%	9.4%	14.6%	20.8%	44.1%	35.8%	44.9%
Sacramento	19.7%	31.0%	7.3%	23.2%	27.0%	54.2%	25.5%	31.1%
Minneapolis	5.6%	9.3%	15.0%	24.5%	20.6%	33.8%
Mid-Atlantic	7.2%	11.3%	6.6%	8.7%	13.8%	20.0%	16.1%	17.9%
Charlotte					9.5%	13.8%
Des Moines							15.1%	18.8%
Peoria							18.6%	20.7%
Pensacola							30.0%	31.2%
Omaha							15.9%	15.6%
Tucson							29.1%	33.3%
Memphis*			16.7%	26.9%
Birmingham AL			17.2%	27.2%
Springfield IL			13.1%	13.0%
*share of existing home sales, based on property records