Distressed Sales - September 2015

DISTRESSED SALESPRESS RELEASE

October 22, 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%94.1%

2.5%3.1%

Equity Sales Short Sale REO

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

OVER NINE OF TEN SALES WERE EQUITY SALES

REOs; 3.1%

Short Sales; 2.5%

Other Distressed Sales (Not Specified); 0.3%

Equity Sales; 94.1%


California: September 2015

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

Equity Sales Short Sales REO Sales0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100% 94%

2% 3%

94%

3% 3%

91%

4% 4%

Sep-15 Aug-15 Sep-14


Type of Sale Sep-15 Aug-15 Sep-14

Equity Sales 94.1% 93.8% 91.3%

Total Distressed Sales 5.9% 6.3% 8.7%

REOs 3.1% 3.1% 3.9%

Short Sales 2.5% 2.9% 4.3%

Other Distressed Sales (Not Specified) 0.3% 0.3% 0.5%

All Sales 100.0% 100.0% 100.0%

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


DISTRESSED SALES

Percent of Total Sales, Bay Area: September 2015

Alam

eda

Contra

Cos

ta

Mar

inNap

a

San

Fran

cisco

San

Mat

eo

Sant

a Cla

ra

Sola

no

Sono

ma

0%

1%

2%

3%

4%

5%

6%

7%

8%

3%3%

2%

4%

1% 1% 1%

7%

3%


DISTRESSED SALES

Percent of Total Sales, Southern California: September 2015

Los Angeles Orange Riverside San Bernardino

San Diego0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

6%

3%

8% 9%

4%


DISTRESSED SALES

Percent of Total Sales, Central Valley: September 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%

10%9%

11%

6%

10%

5%

7%7% 7%

8%

12%


DISTRESSED SALES

Percent of Total Sales, Rest of California: September 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

Sout

h La

ke T

ahoe

Sutte

r

Teha

ma

Yolo

Yuba

0%

5%

10%

15%

20%

25%

30%

5%7%

5% 6%

14%

5%

16%

25%

0%

5%

2%4%

2%

9%

12%

4%

7%

16%

8%

5%


County Sep-15 Aug-15 Sep-14

Alameda 3% 3% 4%

Amador 5% 8% 11%

Butte 7% 8% 12%

Calaveras 5% 8% 9%

Contra Costa 3% 2% 4%

El Dorado 6% 6% 10%

Fresno 10% 10% 15%

Glenn 14% 6% 26%

Humboldt 5% 11% 8%

Kern 9% 9% 11%

Kings 11% 13% 21%

Lake 16% 13% 22%

Los Angeles 6% 7% 9%

Madera 6% 10% 16%Marin 2% 1% 3%

SHARE OF DISTRESSED SALES BY COUNTY

Percent of Total Sales: 1 of 3






Mariposa 25% 11% 10%

Mendocino 0% 6% 14%

Merced 10% 9% 20%

Monterey 5% 8% 10%

Napa 4% 2% 0%

Orange 3% 3% 4%

Placer 5% 4% 8%

Plumas 2% 7% 8%

Riverside 8% 8% 10%

Sacramento 7% 7% 11%

San Benito 7% 14% 3%

San Bernardino 9% 10% 13%

San Diego 4% 4% 5%

San Francisco 1% 2% 1%San Joaquin 7% 8% 14%





San Luis Obispo 4% 3% 7%

San Mateo 1% 2% 3%

Santa Clara 1% 2% 3%

Santa Cruz 2% 1% 4%

Shasta 9% 10% 15%

Siskiyou 12% 3% 25%

Solano 7% 8% 12%

Sonoma 3% 3% 6%

South Lake Tahoe 4% 5% 4%

Stanislaus 8% 8% 11%

Sutter 7% 9% 25%

Tehama 16% 17% 16%

Tulare 12% 10% 26%

Yolo 8% 4% 9%Yuba 5% 12% 9%

California 6% 6% 9%

REO & SHORT SALES

Percent of Total Sales, Bay Area: September 2015

Alam

eda

Contra

Cos

ta

Mar

inNap

a

San

Fran

cisco

San

Mat

eo

Sant

a Cla

ra

Sola

no

Sono

ma

0%

1%

2%

3%

4%

5%

6%

7%

8%

2%2%

0% 1% 1%0% 0%

4%

2%

1%1%

2%

3%

0%1% 1%

3%

1%

REO Sales Short Sales


REO & SHORT SALES


Los Angeles Orange Riverside San Bernardino

San Diego0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

2%

1%

5%

6%

1%

3%

2%

3%

3%

2%



REO & SHORT SALES


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%

6%5%

3% 4% 3% 3%4%

2%4% 4%

8%

3%3% 7%

2%

7%

2%

3% 5% 3% 3%

4%



REO & SHORT SALES

Percent of Total Sales, Rest of California: September 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

r

Teha

ma

Yolo

Yuba

0%

5%

10%

15%

20%

25%

30%

0%6%

2% 3%

14%

4%

15%17%

0%3% 2% 3% 1%

8% 10%6% 8% 6%

2%3%

1%3% 3%

0%

1%

1%

8%

0%

3%0%

1%0%

1%2%

1%

5%

2%

2%



REO SALES BY COUNTY

Percent of Total Sales: 1 of 3County Sep-15 Aug-15 Sep-14

Alameda 2% 2% 3%

Amador 0% 6% 8%

Butte 6% 5% 9%

Calaveras 2% 6% 6%


El Dorado 3% 3% 5%

Fresno 6% 6% 8%

Glenn 14% 6% 21%

Humboldt 4% 10% 7%

Kern 5% 6% 6%

Kings 3% 7% 13%

Lake 15% 12% 19%


Madera 4% 10% 13%Marin 0% 1% 0%


REO SALES BY COUNTY




Mariposa 17% 6% 0%

Mendocino 0% 5% 12%

Merced 3% 5% 6%

Monterey 3% 4% 5%

Napa 1% 1% 0%

Orange 1% 1% 1%

Placer 3% 2% 3%

Plumas 2% 7% 5%

Riverside 5% 4% 4%

Sacramento 4% 3% 6%

San Benito 2% 6% 3%


San Diego 1% 1% 2%


REO SALES BY COUNTY





San Mateo 0% 1% 1%


Santa Cruz 1% 0% 2%

Shasta 8% 8% 10%

Siskiyou 10% 3% 25%

Solano 4% 4% 7%

Sonoma 2% 1% 2%

Stanislaus 4% 5% 6%

Sutter 6% 4% 15%

Tehama 8% 13% 14%

Tulare 8% 9% 18%

Yolo 6% 2% 2%Yuba 2% 9% 7%

California 3% 3% 4%

SHORT SALES BY COUNTY

Percent of Total Sales: 1 of 3County Sep-15 Aug-15 Sep-14

Alameda 1% 2% 1%

Amador 3% 2% 0%

Butte 1% 3% 3%

Calaveras 3% 3% 3%


El Dorado 3% 3% 4%

Fresno 3% 3% 7%

Glenn 0% 0% 5%

Humboldt 1% 2% 1%

Kern 3% 2% 5%

Kings 7% 6% 8%

Lake 1% 1% 3%


Madera 2% 0% 0%Marin 2% 0% 3%






Mariposa 8% 6% 10%

Mendocino 0% 2% 2%

Merced 7% 3% 13%

Monterey 3% 4% 5%

Napa 3% 1% 0%

Orange 2% 2% 3%

Placer 2% 2% 4%

Plumas 0% 0% 3%

Riverside 3% 4% 5%

Sacramento 3% 4% 5%

San Benito 5% 9% 0%


San Diego 2% 2% 3%







San Mateo 1% 1% 2%


Santa Cruz 0% 1% 2%

Shasta 1% 2% 5%

Siskiyou 2% 0% 0%

Solano 3% 3% 5%

Sonoma 1% 2% 3%

Stanislaus 3% 2% 5%

Sutter 1% 5% 9%

Tehama 5% 3% 3%

Tulare 4% 1% 8%

Yolo 2% 2% 7%Yuba 2% 3% 1%

California 2% 3% 4%

MEDIAN PRICE OF EQUITY SALES IN SEPTEMBER DIPPED FOR THE THIRD STRAIGHT MONTH

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


THE MEDIAN PRICE OF EQUITY SALES WAS UNCHANGED FROM LAST YEAR

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


yty% chg. in Price

UNSOLD INVENTORY INDEX

Equity Sales Short Sales REO Sales0

1

2

3

4

5

6

3.6

6.5

2.6

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

UNSOLD INVENTORY INDEX (MONTHS)


ACTIVE LISTINGS REMAINED AT LOW LEVELS

Equity Sales Short Sales REO Sales0

1

2

3

4

5

2.7

3.0

1.7

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



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-

15

Aug-1

50.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

3.6

5.5

2.8

Equity Sales Short Sales REO

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


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


Equity Sales Short Sales REO Sales-40%

-30%

-20%

-10%

0%

10%

20%

17%

-34%

-9%

DISTRESSED SALES CONTINUED TO DECLINE, ESPECIALLY FOR SHORT SALES

(% Change in Sales – Year to Year)


DISTRESSED SALES CONTINUED TO DECLINE, ESPECIALLY FOR SHORT SALES

-80%

-60%

-40%

-20%

0%

20%

40%

60%

17.0%

-34.1%

-8.8%

Equity Sales Short Sales REO Sales


yty% chg in sales

DISTRESSED SALES

Percent of Total Sales: September 2015

CA

Alam

eda

Contra

Cos

ta

El D

orad

o

Fres

noKe

rn

Los A

ngeles

Mon

tere

y

Orang

e

Plac

er

Rivers

ide

Sacr

amen

to

San

Benito

San

Berna

rdino

San

Fran

cisco

San

Joaq

uin

San

Luis

Obisp

o

San

Mat

eo

Sant

a Cla

ra

Sant

a Cru

z

Stan

islau

s

Tulare

Yolo

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100% Sep-15 Jan-09


DISTRESSED SALES

Percent of Total Sales, S.F. Bay Area: September 2015

CA Alameda Contra Costa San Francisco

San Mateo Santa Clara

0%

10%

20%

30%

40%

50%

60%

70%

80%

5.9%2.6% 3.1% 1.3% 1.0% 1.3%

69.5%

75.7%

68.5%

34.5%

48.2%

68.0%

Sep-15 Jan-09


DISTRESSED SALES


CA Los Angeles Orange Riverside San Bernardino

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

5.9% 6.3%3.1%

8.4% 8.8%

69.5%

62.4%60.3%

79.4% 81.9%Sep-15 Jan-09


DISTRESSED SALES


0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

5.9%9.8% 8.7%

4.9% 6.8% 7.3% 7.0% 7.9%12.1%

69.5%

84.2% 86.1%

68.1%

85.6%89.5%

93.0% 93.6%

45.8%

Sep-15 Jan-09


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Distressed Sales - September 2015

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