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Distressed Sales, July 2015

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The CALIFORNIA ASSOCATION OF REALTORS® reported that equity saleds declined slightly in June to make up 92.4 percent of all home sales, remaining near the highest level since late 2007.
33
DISTRESSED SALES PRESS RELEASE August 24, 2015
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Page 1: Distressed Sales, July 2015

DISTRESSED SALESPRESS RELEASE

August 24, 2015

Page 2: Distressed Sales, July 2015

SHARE OF EQUITY SALES REACHED THE HIGHEST LEVEL IN THE LAST SIX YEARS

Jan-

09

Jul-0

9

Jan-

10

Jul-1

0

Jan-

11

Jul-1

1

Jan-

12

Jul-1

2

Jan-

13

Jul-1

3

Jan-

14

Jul-1

4

Jan-

15

Jul-1

50%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

93.0%

3.5%

Equity Sales Short Sale REO

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

3.1%

Page 3: Distressed Sales, July 2015

OVER NINE OF TEN SALES WERE EQUITY SALES

REOs; 3.5%

Short Sales; 3.1%

Other Distressed Sales (Not Speci-

fied); 0.3%

Equity Sales; 93.0%

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

California: July 2015

Page 4: Distressed Sales, July 2015

SHARE OF EQUITY SALES HAS REMAINED NEAR 90% SINCE THE MID OF 2014

Equity Sales Short Sales REO Sales0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%93%

3% 4%

92%

4% 4%

90%

5% 4%

Jul-15 Jun-15 Jul-14

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 5: Distressed Sales, July 2015

Type of Sale Jul-15 Jun-15 Jul-14

Equity Sales 93.0% 92.4% 90.2%

Total Distressed Sales 7.0% 7.6% 9.8%

REOs 3.5% 3.6% 4.2%

Short Sales 3.1% 3.6% 5.3%

Other Distressed Sales (Not Specified) 0.3% 0.4% 0.3%

All Sales 100.0% 100.0% 100.0%

SHARE OF DISTRESSED SALES DIPPED TO THE LOWEST LEVEL SINCE LATE 2007

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 6: Distressed Sales, July 2015

DISTRESSED SALES

Percent of Total Sales, Bay Area: July 2015

Alam

eda

Contra

Cos

ta

Mar

inNap

a

San

Fran

cisco

San

Mat

eo

Sant

a Cla

ra

Sola

no

Sono

ma

0%

5%

10%

15%

20%

25%

30%

2% 3%5%

14%

1% 2% 3%

24%

8%

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 7: Distressed Sales, July 2015

DISTRESSED SALES

Percent of Total Sales, Southern California: July 2015

Los Angeles Orange Riverside San Bernardino

San Diego0%

2%

4%

6%

8%

10%

12%

7%

4%

9%

11%

4%

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 8: Distressed Sales, July 2015

DISTRESSED SALES

Percent of Total Sales, Central Valley: July 2015

Fres

noKe

rn

King

s

Mad

era

Mer

ced

Plac

er

Sacr

amen

to

San

Benito

San

Joaq

uin

Stan

islau

s

Tula

re0%

2%

4%

6%

8%

10%

12%

14%

16%

11%

7%

13%

10%

12%

4%

9% 8%9%

11%

13%

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 9: Distressed Sales, July 2015

DISTRESSED SALES

Percent of Total Sales, Rest of California: July 2015

Amad

or

Butte

Calav

eras

El D

orad

o

Glenn

Humbo

ldt

Lake

Mar

ipos

a

Men

docin

o

Mon

tere

y

Plum

as

San

Luis

Obisp

o

Sant

a Cru

z

Shas

ta

Sisk

iyou

Sutte

rYo

loYu

ba0%

5%

10%

15%

20%

4%

9%

3%

9%

15%

12%

10%

12%

18%

6%

11%

5%4%

7%

17%

6%8%

13%

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 10: Distressed Sales, July 2015

County Jul-15 Jun-15 Jul-14

Alameda 2% 1% 4%

Amador 4% 8% 15%

Butte 9% 9% 11%

Calaveras 3% 6% 10%

Contra Costa 3% 3% 5%

El Dorado 9% 8% 9%

Fresno 11% 10% 17%

Glenn 15% 27% 25%

Humboldt 12% 16% 9%

Kern 7% 9% 12%

Kings 13% 11% 19%

Lake 10% 18% 20%

Los Angeles 7% 8% 9%

Madera 10% 9% 7%

SHARE OF DISTRESSED SALES BY COUNTY

Percent of Total Sales: 1 of 3

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 11: Distressed Sales, July 2015

SHARE OF DISTRESSED SALES BY COUNTY

Percent of Total Sales: 2 of 3County Jul-15 Jun-15 Jul-14

Marin 5% 4% 2%Mariposa 12% 20% 17%

Mendocino 18% 20% 14%Merced 12% 8% 9%

Monterey 6% 8% 9%Napa 14% 12% 9%

Orange 4% 4% 5%Placer 4% 5% 6%Plumas 11% 18% 5%Riverside 9% 10% 13%

Sacramento 9% 11% 12%San Benito 8% 8% 15%

San Bernardino 11% 12% 16%San Diego 4% 4% 6%

San Francisco 1% 3% 2%SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 12: Distressed Sales, July 2015

SHARE OF DISTRESSED SALES BY COUNTY

Percent of Total Sales: 3 of 3County Jul-15 Jun-15 Jul-14

San Joaquin 9% 12% 14%San Luis Obispo 5% 4% 5%

San Mateo 2% 2% 2%Santa Clara 3% 1% 3%Santa Cruz 4% 4% 7%

Shasta 7% 8% 18%Siskiyou 17% 23% 11%Solano 24% 21% 10%Sonoma 8% 9% 5%

Stanislaus 11% 11% 14%Sutter 6% 12% 14%Tulare 13% 14% 18%Yolo 8% 5% 14%Yuba 13% 18% 24%

CALIFORNIA 7% 8% 10%

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 13: Distressed Sales, July 2015

REO & SHORT SALES

Percent of Total Sales, Bay Area: July 2015

Alam

eda

Contra

Cos

ta

Mar

inNap

a

San

Fran

cisco

San

Mat

eo

Sant

a Cla

ra

Sola

no

Sono

ma

0%

5%

10%

15%

20%

25%

30%

1% 2% 3% 5%1% 0% 2%

13%

3%1% 1%2%

8%

0% 1%1%

11%

5%

REO Sales Short Sales

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 14: Distressed Sales, July 2015

REO & SHORT SALES

Percent of Total Sales, Southern California: July 2015

Los Angeles Orange Riverside San Bernardino

San Diego0%

2%

4%

6%

8%

10%

12%

3%1%

4%

7%

1%

4%

3%

4%

4%

2%

REO Sales Short Sales

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 15: Distressed Sales, July 2015

REO & SHORT SALES

Percent of Total Sales, Central Valley: July 2015

Fres

noKe

rn

King

s

Mad

era

Mer

ced

Plac

er

Sacr

amen

to

San

Benito

San

Joaq

uin

Stan

islau

s

Tula

re0%

2%

4%

6%

8%

10%

12%

14%

16%

8%

4%

8% 8%6%

1%

4% 5% 5% 5%

10%

4%

3%

4%3%

6%

2%

4%3%

4%5%

4%

REO Sales Short Sales

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 16: Distressed Sales, July 2015

REO & SHORT SALES

Percent of Total Sales, Rest of California: July 2015

Amad

or

Butte

Calav

eras

El D

orad

o

Glenn

Humbo

ldt

Lake

Mar

ipos

a

Men

docin

o

Mon

tere

y

Plum

as

San

Luis

Ob...

Sant

a Cru

z

Shas

ta

Sisk

iyou

Sutte

rYo

loYu

ba0%

5%

10%

15%

20%

25%

30%

4%7%

2%6%

13%9%

14%

20%18%

2%

11%

2% 1%5%

23%

10%

1%

12%2%

2%

1%

2%

13%

7%

5%

0% 1%

6%

0%

1% 3%

3%

0%

2%

3%

6%

REO Sales Short Sales

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 17: Distressed Sales, July 2015

REO SALES BY COUNTY

Percent of Total Sales: 1 of 3County Jul-15 Jun-15 Jul-14

Alameda 1% 1% 2%

Amador 2% 4% 13%

Butte 7% 7% 8%

Calaveras 2% 5% 7%

Contra Costa 2% 2% 3%

El Dorado 4% 6% 4%

Fresno 8% 6% 9%

Glenn 10% 13% 19%

Humboldt 11% 9% 6%

Kern 4% 6% 7%

Kings 8% 6% 16%

Lake 8% 14% 14%

Los Angeles 3% 2% 2%

Madera 8% 4% 6%

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 18: Distressed Sales, July 2015

REO SALES BY COUNTY

Percent of Total Sales: 2 of 3County Jul-15 Jun-15 Jul-14

Marin 3% 2% 1%Mariposa 6% 20% 17%

Mendocino 11% 18% 12%Merced 6% 2% 4%

Monterey 2% 2% 3%Napa 5% 6% 6%

Orange 1% 1% 1%Placer 1% 2% 3%Plumas 11% 11% 5%Riverside 4% 5% 6%

Sacramento 4% 5% 6%San Benito 5% 4% 9%

San Bernardino 7% 7% 9%San Diego 1% 2% 2%

San Francisco 1% 3% 1%

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 19: Distressed Sales, July 2015

REO SALES BY COUNTY

Percent of Total Sales: 3 of 3County Jul-15 Jun-15 Jul-14

San Joaquin 5% 6% 7%San Luis Obispo 2% 2% 2%

San Mateo 0% 1% 1%Santa Clara 2% 0% 0%Santa Cruz 4% 1% 2%

Shasta 6% 5% 14%Siskiyou 17% 23% 11%Solano 13% 9% 4%Sonoma 3% 4% 1%

Stanislaus 5% 6% 8%Sutter 6% 10% 9%Tulare 10% 10% 10%Yolo 4% 1% 7%Yuba 8% 12% 14%

CALIFORNIA 4% 4% 4%

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 20: Distressed Sales, July 2015

SHORT SALES BY COUNTY

Percent of Total Sales: 1 of 3County Jul-15 Jun-15 Jul-14

Alameda 1% 1% 2%

Amador 2% 2% 3%

Butte 2% 2% 2%

Calaveras 1% 1% 3%

Contra Costa 1% 1% 2%

El Dorado 5% 2% 5%

Fresno 4% 4% 7%

Glenn 5% 13% 6%

Humboldt 2% 7% 3%

Kern 3% 3% 5%

Kings 4% 5% 3%

Lake 1% 5% 5%

Los Angeles 4% 4% 7%

Madera 3% 6% 0%

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 21: Distressed Sales, July 2015

SHORT SALES BY COUNTY

Percent of Total Sales: 2 of 3County Jul-15 Jun-15 Jul-14

Marin 2% 2% 1%Mariposa 0% 0% 0%

Mendocino 7% 1% 2%Merced 6% 6% 4%

Monterey 4% 6% 6%Napa 8% 7% 2%

Orange 3% 3% 4%Placer 2% 4% 4%Plumas 0% 8% 0%Riverside 4% 5% 7%

Sacramento 4% 6% 6%San Benito 3% 4% 6%

San Bernardino 4% 4% 6%San Diego 2% 2% 4%

San Francisco 0% 0% 1%

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 22: Distressed Sales, July 2015

SHORT SALES BY COUNTY

Percent of Total Sales: 3 of 3County Jul-15 Jun-15 Jul-14

San Joaquin 4% 5% 7%San Luis Obispo 3% 1% 3%

San Mateo 1% 0% 1%Santa Clara 1% 1% 2%Santa Cruz 1% 3% 5%

Shasta 1% 3% 4%Siskiyou 0% 0% 0%Solano 11% 11% 7%Sonoma 5% 5% 3%

Stanislaus 5% 4% 5%Sutter 0% 2% 4%Tulare 4% 4% 8%Yolo 3% 3% 5%Yuba 5% 6% 10%

CALIFORNIA 3% 4% 5%

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 23: Distressed Sales, July 2015

MEDIAN PRICE OF EQUITY SALES IN JULY DIPPED FROM JUNE

Jan-

09

Jul-0

9

Jan-

10

Jul-1

0

Jan-

11

Jul-1

1

Jan-

12

Jul-1

2

Jan-

13

Jul-1

3

Jan-

14

Jul-1

4

Jan-

15

Jul-1

5$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000 Equity Sales Short Sale REO

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 24: Distressed Sales, July 2015

THE MEDIAN PRICE OF EQUITY SALES ONLY INCHED UP SLIGHTLY FROM JULY

2014

Jan-

10

Apr-1

0

Jul-1

0

Oct-1

0

Jan-

11

Apr-1

1

Jul-1

1

Oct-1

1

Jan-

12

Apr-1

2

Jul-1

2

Oct-1

2

Jan-

13

Apr-1

3

Jul-1

3

Oct-1

3

Jan-

14

Apr-1

4

Jul-1

4

Oct-1

4

Jan-

15

Apr-1

5

Jul-1

5-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

30% Equity Sales Short Sale REO

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

yty% chg. in Price

Page 25: Distressed Sales, July 2015

UNSOLD INVENTORY INDEX

Equity Sales Short Sales REO Sales0

1

2

3

4

5

6

3.4

4.9

2.2

SERIES: Distressed Unsold Inventory Index, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

UNSOLD INVENTORY INDEX (MONTHS)

California: July 2015

Page 26: Distressed Sales, July 2015

ACTIVE LISTINGS REMAINED AT LOW LEVELS

Equity Sales Short Sales REO Sales0

1

2

3

4

5

2.4 2.2

1.5

SERIES: Distressed Unsold Inventory Index, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

UNSOLD INVENTORY INDEX (MONTHS)

California: July 2015

Page 27: Distressed Sales, July 2015

UNSOLD INVENTORY FOR EQUITY SALES REMAINED NEAR THE LOWEST LEVEL IN LAST

18 MONTHS

Aug-1

1

Oct-1

1

Dec-1

1

Feb-

12

Apr-1

2

Jun-

12

Aug-1

2

Oct-1

2

Dec-1

2

Feb-

13

Apr-1

3

Jun-

13

Aug-1

3

Oct-1

3

Dec-1

3

Feb-

14

Apr-1

4

Jun-

14

Aug-1

4

Oct-1

4

Dec-1

4

Feb-

15

Apr-1

5

Jun-

150.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

3.4

4.9

2.2

Equity Sales Short Sales REO

SERIES: Distressed Months Supply of Inventory, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

UNSOLD INVENTORY INDEX (MONTHS)

Page 28: Distressed Sales, July 2015

EQUITY SALES INCREASED BY DOUBLE-DIGITS FROM LAST YEAR

Raw# of Equity Sales, REO, & Short-Sales

Jan-

09

Jul-0

9

Jan-

10

Jul-1

0

Jan-

11

Jul-1

1

Jan-

12

Jul-1

2

Jan-

13

Jul-1

3

Jan-

14

Jul-1

4

Jan-

15

Jul-1

50

5,000

10,000

15,000

20,000

25,000 Equity Sales Short Sale REO

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 29: Distressed Sales, July 2015

Equity Sales Short Sales REO Sales-30%

-20%

-10%

0%

10%

20%

30%24%

-29%

2%

DISTRESSED SALES CONTINUED TO DECLINE, ESPECIALLY FOR SHORT SALES

(% Change in Sales – Year to Year)

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 30: Distressed Sales, July 2015

DISTRESSED SALES CONTINUED TO DECLINE, ESPECIALLY FOR SHORT SALES

-80%

-60%

-40%

-20%

0%

20%

40%

60%

24.0%

-28.7%

1.5%

Equity Sales Short Sales REO Sales

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

yty% chg in sales

Page 31: Distressed Sales, July 2015

DISTRESSED SALES

Percent of Total Sales: July 2015

CA

El D

orad

o

Fres

no

Los Ang

eles

Mon

tere

y

Orang

e

Plac

er

River

side

Sacr

amen

to

San

Benito

San

Berna

rdin

o

San

Joaq

uin

San

Luis

Obisp

o

San

Mat

eo

Sant

a Cla

ra

Sant

a Cru

z

Stan

islau

s

Tula

reYo

lo

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100% Jul-15 Jan-09

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 32: Distressed Sales, July 2015

DISTRESSED SALES

Percent of Total Sales, Southern California: July 2015

CA Los Angeles Orange Riverside San Bernardino

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

7.0% 6.8%4.1%

8.7% 10.7%

69.5%

62.4%60.3%

79.4% 81.9%Jul-15 Jan-09

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Page 33: Distressed Sales, July 2015

DISTRESSED SALES

Percent of Total Sales, Central Valley: July 2015

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

7.0%11.5%

4.0%8.8% 8.5% 9.1% 10.5% 13.5%

69.5%

84.2%

68.1%

85.6%89.5%

93.0% 93.6%

45.8%

Jul-15 Jan-09

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS®


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