On distressed: Total "distressed" share is down in most of these markets mostly due to a decline in short sales (Mid-Atlantic is up year-over-year because of an increase in foreclosures in Baltimore).
Short sales are down in all of these areas.
The All Cash Share (last two columns) is declining year-over-year. As investors pull back, the share of all cash buyers will probably continue to decline.
As Lawler noted last month: The Baltimore Metro area is included in the overall Mid-Atlantic region (covered by MRIS). Baltimore is shown separately because a large portion of the YOY increase in the foreclosure share of home sales in the Mid-Atlantic region was attributable to the significant increase in foreclosure sales in the Baltimore Metro area.
| Short Sales Share | Foreclosure Sales Share | Total "Distressed" Share | All Cash Share | |||||
|---|---|---|---|---|---|---|---|---|
| May-15 | May-14 | May-15 | May-14 | May-15 | May-14 | May-15 | May-14 | |
| Las Vegas | 7.3% | 7.9% | 8.0% | 9.1% | 15.3% | 17.0% | 21.9% | 40.2% |
| Reno** | 5.0% | 11.0% | 4.0% | 6.0% | 9.0% | 17.0% | ||
| Phoenix | 24.0% | 29.5% | ||||||
| Minneapolis | 2.4% | 3.9% | 6.6% | 10.0% | 9.0% | 13.9% | ||
| Mid-Atlantic | 3.4% | 5.2% | 10.4% | 8.1% | 13.8% | 13.3% | 16.2% | 17.2% |
| Baltimore MSA**** | 3.6% | 5.8% | 16.3% | 11.9% | 19.8% | 17.6% | ||
| Chicago (city) | 16.2% | 21.6% | ||||||
| Hampton Roads | 17.4% | 21.3% | ||||||
| Spokane | 12.8% | 17.0% | ||||||
| Northeast Florida | 26.7% | 36.8% | ||||||
| Toledo | 26.1% | 36.6% | ||||||
| Tucson | 25.6% | 31.3% | ||||||
| Des Moines | 14.0% | 17.5% | ||||||
| Peoria | 17.9% | 19.6% | ||||||
| Georgia*** | 20.3% | 26.0% | ||||||
| Omaha | ||||||||
| Richmond VA MSA | 8.5% | 13.9% | 14.9% | 19.4% | ||||
| Memphis | 14.3% | 15.6% | ||||||
| Springfield IL** | 5.4% | 8.7% | ||||||
| *share of existing home sales, based on property records **Single Family Only ***GAMLS ****Baltimore is included in the Mid-Atlantic region, but is shown separately here |
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