by CalculatedRisk on 10/12/2011
There are only a few areas where the MLS breaks down monthly sales by foreclosure, short sales and conventional (non-distressed) sale. I’ve been tracking the Sacramento market to watch for changes in the mix over time. (here was my post yesterday: Distressed House Sales using Sacramento Data)
Economist Tom Lawler sent me the following table today for a few other areas. The usual suspects have the highest percentage of distressed sales: Las Vegas and Phoenix. Sacramento is similar to Phoenix.
The Mid-Atlantic area – covered by the MRIS (Metropolitan Regional Information Systems, Inc.) has a relatively low level of distressed sales.
Why short sales in Minneapolis are so low relative to foreclosures is a mystery …
I’ll be watching for when the percentage of distressed sales starts to decline (I might have to be patient!).
|September MLS Sales Share, Selected Areas|
|Foreclosure Share||Short Sales Share||“Non-Distressed” Share|
|*area covered by MRIS, including DC and Baltimore metro areas|