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DISTRESSEDSALESPRESS RELEASE
September 22, 2015
SHARE OF EQUITY SALES REACHEDTHE HIGHEST LEVEL IN THE LAST SIXYEARS
93.8%
2.9%3.0%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-
09
Apr
-09
Jul-0
9
Oct
-09
Jan-
10
Apr
-10
Jul-1
0
Oct
-10
Jan-
11
Apr
-11
Jul-1
1
Oct
-11
Jan-
12
Apr
-12
Jul-1
2
Oct
-12
Jan-
13
Apr
-13
Jul-1
3
Oct
-13
Jan-
14
Apr
-14
Jul-1
4
Oct
-14
Jan-
15
Apr
-15
Jul-1
5
Equity Sales Short Sale REO
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
OVER NINE OF TEN SALES WERE EQUITY SALES
REOs, 3.0%
Short Sales,2.9%
OtherDistressed Sales(Not Specified),
0.3%
Equity Sales,93.8%
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
California: August 2015
SHARE OF EQUITY SALES HAS REMAINED NEAR 90%SINCE THE MID OF 2014
94%
3% 3%
93%
3% 3%
92%
4% 4%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Equity Sales Short Sales REO Sales
Aug-15 Jul-15 Aug-14
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
Type of Sale Aug-15 Jul-15 Aug-14
Equity Sales 93.8% 93.3% 91.6%
Total Distressed Sales 6.2% 6.7% 8.5%
REOs 3.0% 3.4% 3.9%
Short Sales 2.9% 3.0% 4.3%
Other Distressed Sales (Not Specified) 0.3% 0.3% 0.3%
All Sales 100.0% 100.0% 100.0%
SHARE OF DISTRESSED SALES DIPPED TOTHE LOWEST LEVEL SINCE LATE 2007
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
DISTRESSED SALES
Percent of Total Sales, Bay Area: August 2015
3%
2%
1%2% 2% 2% 2%
8%
3%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
Alameda ContraCosta
Marin Napa SanFrancisco
San Mateo Santa Clara Solano Sonoma
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
DISTRESSED SALES
Percent of Total Sales, Southern California: August 2015
7%
3%
9% 10%
4%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Los Angeles Orange Riverside San Bernardino San Diego
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
DISTRESSED SALES
Percent of Total Sales, Central Valley: August 2015
10%
13%
10%
9%
4%
7%
14%
8% 8%
10%
0%
2%
4%
6%
8%
10%
12%
14%
16%
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
DISTRESSED SALES
Percent of Total Sales, Rest of California: August 2015
8% 8% 8%
6% 6%
11%
13%
11%
6%
8%7%
3%
1%
10%
3%
9%
17%
4%
12%
0%
5%
10%
15%
20%
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
County Aug-15 Jul-15 Aug-14
Alameda 3% 2% 3%
Amador 8% 4% 10%
Butte 8% 9% 11%
Calaveras 8% 3% 7%
Contra Costa 2% 3% 3%
El Dorado 6% 9% 9%
Fresno 10% 11% 15%
Glenn 6% 15% 19%
Humboldt 11% 12% 10%
Kern NA NA 10%
Kings 13% 13% 15%
Lake 13% 10% 29%
Los Angeles 7% 7% 8%
Madera 10% 10% 17%Marin 1% 2% 2%
SHARE OF DISTRESSED SALES BY COUNTY
Percent of Total Sales: 1 of 3
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
SHARE OF DISTRESSED SALES BY COUNTY
Percent of Total Sales: 2 of 3
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
County Aug-15 Jul-15 Aug-14
Mariposa 11% 12% 20%Mendocino 6% 14% 11%
Merced 9% 12% 14%Monterey 8% 6% 10%
Napa 2% 8% 5%Orange 3% 4% 5%Placer 4% 4% 7%
Plumas 7% 11% 6%Riverside 9% 9% 11%
Sacramento 7% 9% 12%San Benito 14% 8% 7%
San Bernardino 10% 11% 15%San Diego 4% 4% 6%
San Francisco 2% 1% 2%San Joaquin 8% 9% 14%
SHARE OF DISTRESSED SALES BY COUNTY
Percent of Total Sales: 3 of 3
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
County Aug-15 Jul-15 Aug-14
San Luis Obispo 3% 5% 8%San Mateo 2% 2% 1%Santa Clara 2% 3% 2%Santa Cruz 1% 4% 7%
Shasta 10% 7% 14%Siskiyou 3% 17% 18%Solano 8% 9% 13%
Sonoma 3% 3% 4%Stanislaus 8% 11% 12%
Sutter 9% 6% 8%Tehama 17% 15% 7%Tulare 10% 13% 19%Yolo 4% 8% 6%Yuba 12% 13% 13%
California 6% 7% 8%
REO & SHORT SALES
Percent of Total Sales, Bay Area: August 2015
2%1% 1% 1% 1% 1% 1%
4%
1%
2%
1% 0% 1% 1% 1% 1%
3%
2%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
Alameda ContraCosta
Marin Napa SanFrancisco
San Mateo Santa Clara Solano Sonoma
REO Sales Short Sales
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
REO & SHORT SALES
Percent of Total Sales, Southern California: August2015
2%
1%
4%
6%
1%
4%
2%
4%
3%
2%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Los Angeles Orange Riverside San Bernardino San Diego
REO Sales Short Sales
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
REO & SHORT SALES
Percent of Total Sales, Central Valley: August 2015
6%7%
10%
5%
2%3%
6%3%
5%
9%
3%
6% 0%
3%
2%
4%
9%
5% 2%
1%
0%
2%
4%
6%
8%
10%
12%
14%
16% REO Sales Short Sales
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
REO & SHORT SALES
Percent of Total Sales, Rest of California: August 2015
6% 5% 6%3%
6%
10%12%
6% 5% 4%7%
2%0%
8%
3% 4%
13%
2%
9%
2% 3%3%
3%0%
2%
1%
6%
2% 4%0%
1%
1%
2%
0%
5%
3%
2%
3%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%REO Sales Short Sales
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
REO SALES BY COUNTY
Percent of Total Sales: 1 of 3County Aug-15 Jul-15 Aug-14
Alameda 2% 1% 1%
Amador 6% 2% 5%
Butte 5% 7% 9%
Calaveras 6% 1% 6%
Contra Costa 1% 2% 1%
El Dorado 3% 4% 4%
Fresno 6% 8% 8%
Glenn 6% 10% 6%
Humboldt 10% 11% 7%
Kern NA NA 6%
Kings 7% 8% 7%
Lake 12% 8% 22%
Los Angeles 2% 3% 2%
Madera 10% 8% 15%Marin 1% 1% 1%
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
REO SALES BY COUNTY
Percent of Total Sales: 2 of 3
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
County Aug-15 Jul-15 Aug-14
Mariposa 6% 6% 10%Mendocino 5% 9% 11%
Merced 5% 6% 5%Monterey 4% 2% 3%
Napa 1% 4% 2%Orange 1% 1% 1%Placer 2% 1% 3%
Plumas 7% 11% 0%Riverside 4% 4% 6%
Sacramento 3% 4% 5%San Benito 6% 5% 2%
San Bernardino 6% 7% 9%San Diego 1% 1% 2%
San Francisco 1% 1% 1%San Joaquin 3% 5% 6%
REO SALES BY COUNTY
Percent of Total Sales: 3 of 3
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
County Aug-15 Jul-15 Aug-14
San Luis Obispo 2% 2% 5%
San Mateo 1% 0% 0%
Santa Clara 1% 2% 1%
Santa Cruz 0% 4% 3%
Shasta 8% 6% 12%
Siskiyou 3% 17% 16%
Solano 4% 5% 7%
Sonoma 1% 1% 2%
Stanislaus 5% 5% 5%
Sutter 4% 6% 3%
Tehama 13% 10% 7%
Tulare 9% 10% 11%
Yolo 2% 4% 4%Yuba 9% 8% 7%
California 3% 3% 4%
SHORT SALES BY COUNTY
Percent of Total Sales: 1 of 3County Aug-15 Jul-15 Aug-14
Alameda 2% 1% 1%
Amador 2% 2% 5%
Butte 3% 2% 1%
Calaveras 3% 0% 1%
Contra Costa 1% 1% 2%
El Dorado 3% 5% 5%
Fresno 3% 4% 7%
Glenn 0% 5% 13%
Humboldt 2% 2% 3%
Kern NA NA 5%
Kings 6% 4% 8%
Lake 1% 1% 6%
Los Angeles 4% 4% 6%
Madera 0% 3% 2%Marin 0% 1% 1%
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
SHORT SALES BY COUNTY
Percent of Total Sales: 2 of 3
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
County Aug-15 Jul-15 Aug-14
Mariposa 6% 0% 10%Mendocino 2% 5% 0%
Merced 3% 6% 10%Monterey 4% 4% 7%
Napa 1% 4% 2%Orange 2% 3% 3%Placer 2% 2% 3%
Plumas 0% 0% 6%Riverside 4% 4% 5%
Sacramento 4% 4% 6%San Benito 9% 3% 5%
San Bernardino 3% 4% 5%San Diego 2% 2% 3%
San Francisco 1% 0% 1%San Joaquin 5% 4% 7%
SHORT SALES BY COUNTY
Percent of Total Sales: 3 of 3
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
County Aug-15 Jul-15 Aug-14
San Luis Obispo 1% 3% 3%San Mateo 1% 1% 1%Santa Clara 1% 1% 1%Santa Cruz 1% 1% 4%
Shasta 2% 1% 3%Siskiyou 0% 0% 2%Solano 3% 4% 7%
Sonoma 2% 2% 2%Stanislaus 2% 5% 6%
Sutter 5% 0% 5%Tehama 3% 5% 0%Tulare 1% 4% 7%Yolo 2% 3% 2%Yuba 3% 5% 6%
California 3% 3% 4%
MEDIAN PRICE OF EQUITY SALES IN AUGUSTDIPPED FROM JUNE
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000Ja
n-09
Apr
-09
Jul-0
9
Oct
-09
Jan-
10
Apr
-10
Jul-1
0
Oct
-10
Jan-
11
Apr
-11
Jul-1
1
Oct
-11
Jan-
12
Apr
-12
Jul-1
2
Oct
-12
Jan-
13
Apr
-13
Jul-1
3
Oct
-13
Jan-
14
Apr
-14
Jul-1
4
Oct
-14
Jan-
15
Apr
-15
Jul-1
5
Equity Sales Short Sale REO
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
THE MEDIAN PRICE OF EQUITY SALESDIPPED FOR THE 1ST TIME SINCE JUNE 2014
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
Jan-
10
Apr
-10
Jul-1
0
Oct
-10
Jan-
11
Apr
-11
Jul-1
1
Oct
-11
Jan-
12
Apr
-12
Jul-1
2
Oct
-12
Jan-
13
Apr
-13
Jul-1
3
Oct
-13
Jan-
14
Apr
-14
Jul-1
4
Oct
-14
Jan-
15
Apr
-15
Jul-1
5
Equity Sales Short Sale REO
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
yty% chg. in Price
UNSOLD INVENTORY INDEX
0
1
2
3
4
5
6
Equity Sales Short Sales REO Sales
3.6
5.5
2.8
SERIES: Distressed Unsold Inventory Index, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
UNSOLD INVENTORY INDEX (MONTHS)
California: August 2015
UNSOLD INVENTORY FOR EQUITY SALES REMAINEDNEAR THE LOWEST LEVEL IN LAST 18 MONTHS
3.6
5.5
2.8
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
Aug
-11
Oct
-11
Dec
-11
Feb-
12
Apr
-12
Jun-
12
Aug
-12
Oct
-12
Dec
-12
Feb-
13
Apr
-13
Jun-
13
Aug
-13
Oct
-13
Dec
-13
Feb-
14
Apr
-14
Jun-
14
Aug
-14
Oct
-14
Dec
-14
Feb-
15
Apr
-15
Jun-
15
Aug
-15
Equity Sales Short Sales REO
SERIES: Distressed Months Supply of Inventory, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
UNSOLD INVENTORY INDEX (MONTHS)
-30%
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
Equity Sales Short Sales REO Sales
13%
-26%
-14%
DISTRESSED SALES CONTINUED TO DECLINE,ESPECIALLY FOR SHORT SALES
(% Change in Sales Year toYear)
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
DISTRESSED SALES CONTINUED TO DECLINE,ESPECIALLY FOR SHORT SALES
12.9%
-26.3%
-14.2%
-80%
-60%
-40%
-20%
0%
20%
40%
60% Equity Sales Short Sales REO Sales
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
yty% chg in sales
DISTRESSED SALES
Percent of Total Sales: August 2015
0%
20%
40%
60%
80%
100%
Aug-15 Jan-09
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
DISTRESSED SALES
Percent of Total Sales, Southern California: August2015
0%
20%
40%
60%
80%
100%
CA Los Angeles Orange Riverside San Bernardino
6.2% 7.1%3.3%
8.9% 9.5%
69.5%62.4% 60.3%
79.4% 81.9%
Aug-15 Jan-09
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
DISTRESSED SALES
Percent of Total Sales, Central Valley: August 2015
0%
20%
40%
60%
80%
100%
6.2% 9.6% 4.3% 7.1%14.3%
7.9% 7.8% 10.2%
69.5%
84.2%
68.1%
85.6% 89.5%93.0% 93.6%
45.8%
Aug-15 Jan-09
SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS