Distressed housing market data: • The share of equity sales – or non-distressed property sales – continued its upward trend, inching up in July to 90.6 percent, up from 90.3 percent in June. Equity sales have been rising steadily again since the beginning of this year. Equity sales have been more than 80 percent of total sales for more than two years and have risen above 90 percent for the second straight month. Equity sales made up 82.8 percent of sales in July 2013.
• The combined share of all distressed property sales declined further in July, dropping from 9.7 percent in June to 9.4 percent in July. Distressed sales continued to be down more than 50 percent from a year ago, when the share was 17.2 percent.
• Twenty-one of the 41 reporting counties showed a month-to-month decrease in the share of distressed sales, with 20 of the counties recording in the single-digits, including Alameda, Contra Costa, Marin, Orange, Plumas, San Diego, San Luis Obispo, San Mateo, Sonoma, and Santa Clara counties — all of which registered a share of five percent or less.
• Of the distressed properties, the share of short sales fell to its lowest level since February 2008, falling to 4.9 percent in July, down from 5 percent in June. July’s figure was less than half the 11.6 percent recorded in July 2013.
• The share of REO sales fell in July to 4.1 percent, down from 4.4 percent in June and from 5.2 percent in July 2013.
• The supply of equity and REO properties eased in July, with the Unsold Inventory Index of equity sales edging up from 3.8 months in June to 3.9 months in July, and from 2.4 months in June to 2.5 months in July for REO sales. The supply of short sales dipped from 4.8 months in June to 4.7 months in July.