Lawler: Preliminary Table of Distressed Sales and Cash buyers for Selected Cities in November

Economist Tom Lawler sent me the preliminary table below of short sales, foreclosures and cash buyers for several selected cities in November.  First, from Lawler on November sales:

"While I do not have enough reports to produce an accurate estimate of existing home sales for November, reports I’ve seen so far suggest that home sales declined again on a seasonally adjusted basis last month."

From CR: This is just a few markets, but total "distressed" share is down significantly, mostly because of a decline in short sales.  Foreclosure are down in most areas too.


The All Cash Share (last two columns) is mostly declining year-over-year.  As investors pull back in markets the share of all cash buyers will probably decline.

In general it appears the housing market is slowly moving back to normal.

	Short Sales Share		Foreclosure Sales Share		Total "Distressed" Share		All Cash Share
	Nov-13	Nov-12	Nov-13	Nov-12	Nov-13	Nov-12	Nov-13	Nov-12
Las Vegas	21.0%	41.2%	7.0%	10.7%	28.0%	51.9%	43.7%	52.7%
Reno	17.0%	41.0%	6.0%	9.0%	23.0%	50.0%
Phoenix	7.8%	23.2%	8.0%	12.9%	15.8%	36.1%
Mid-Atlantic	7.5%	11.9%	8.1%	8.7%	15.7%	20.6%	19.6%	20.0%
Tucson							32.2%	33.8%
Toledo							37.2%	40.9%
Omaha							21.6%	19.8%
Spokane			16.0%	9.1%
Memphis*			20.4%	24.4%
Springfield IL			17.0%	15.8%
*share of existing home sales, based on property records