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 sharp decline in foreclosure sales in all of these cities.
And now 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 is mostly staying steady. The all cash share will probably decline when investors pull back in markets like Las Vegas and Phoenix (already declining).
| 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% |
| Charlotte | 9.5% | 13.8% | ||||||
| Tucson | 29.1% | 33.3% | ||||||
| Toledo | 35.0% | 36.5% | ||||||
| Omaha | 15.9% | 15.6% | ||||||
| Memphis* | 16.7% | 26.9% | ||||||
| *share of existing home sales, based on property records | ||||||||
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