Lawler writes: "Note the low share of short sales relative to foreclosure sales in Florida last month, which reflects the “very aged” nature of the “distressed” property inventory."
From CR: Also note that foreclosures have declined significantly in most areas - but not in Florida. This is probably because of the large backlog of foreclosures in the judicial system.
The All Cash Share (last two columns) is mostly declining year-over-year. However in certain areas of Florida there is still a significant amount of cash buying (frequently investors, but in Florida this might be foreigners - and maybe some drug related buying).
| Short Sales Share | Foreclosure Sales Share | Total "Distressed" Share | All Cash Share | |||||
|---|---|---|---|---|---|---|---|---|
| Oct-13 | Oct-12 | Oct-13 | Oct-12 | Oct-13 | Oct-12 | Oct-13 | Oct-12 | |
| Las Vegas | 21.0% | 44.7% | 6.0% | 11.6% | 27.0% | 56.3% | 44.9% | 54.1% |
| Reno | 16.0% | 40.0% | 4.0% | 12.0% | 20.0% | 52.0% | ||
| Phoenix | 8.4% | 26.2% | 6.9% | 12.9% | 15.3% | 39.1% | 31.6% | 43.9% |
| Sacramento | 11.4% | 35.7% | 5.1% | 12.0% | 16.5% | 47.7% | 23.9% | 36.9% |
| Minneapolis | 5.1% | 10.4% | 16.4% | 24.9% | 21.5% | 35.3% | ||
| Mid-Atlantic | 7.9% | 9.1% | 8.2% | 13.0% | 16.1% | 22.1% | 19.9% | 20.0% |
| Orlando | 15.1% | 29.8% | 20.7% | 23.2% | 35.8% | 53.0% | ||
| California* | 12.6% | 26.7% | 6.6% | 17.1% | 19.2% | 43.8% | ||
| Bay Area CA* | 10.3% | 22.9% | 3.6% | 11.7% | 13.9% | 34.6% | 22.8% | 29.6% |
| So. California* | 12.9% | 27.2% | 6.3% | 16.3% | 19.2% | 43.5% | 27.5% | 32.8% |
| Florida SF | 12.0% | 22.6% | 19.3% | 17.9% | 31.3% | 40.5% | 44.4% | 46.5% |
| Florida C/TH | 9.5% | 18.4% | 17.3% | 16.7% | 26.9% | 35.1% | 68.7% | 74.3% |
| Miami MSA SF | 16.0% | 24.2% | 14.9% | 16.9% | 30.9% | 41.1% | 46.9% | 44.1% |
| Miami MSA C/TH | 11.4% | 20.4% | 19.5% | 16.9% | 30.9% | 37.4% | 73.4% | 78.3% |
| Northeast Florida | 35.7% | 44.2% | ||||||
| Chicago | 34.0% | 43.0% | ||||||
| Hampton Roads | 25.5% | 28.3% | ||||||
| Toledo | 37.0% | 38.6% | ||||||
| Tucson | 32.9% | 31.8% | ||||||
| Memphis | 39.2% | 39.6% | ||||||
| Wichita | 30.5% | 27.2% | ||||||
| Des Moines | 20.2% | 21.7% | ||||||
| Peoria | 21.1% | 23.7% | ||||||
| Omaha | 20.0% | 20.4% | ||||||
| SE Michigan | 34.5% | 44.3% | ||||||
| Spokane | 13.8% | 8.4% | ||||||
| Houston | 7.5% | 15.5% | ||||||
| Memphis* | 18.4% | 22.9% | ||||||
| Birmingham AL | 21.0% | 30.8% | ||||||
| Springfield IL | 15.3% | 18.4% | ||||||
| *share of existing home sales, based on property records | ||||||||
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