Distressed Housing Market Data:
· The share of equity sales – or non-distressed property sales – compared with total sales rose to their highest level since February 2008, recording a 72.1 percent share in March. Equity sales made up 66.8 percent of all sales in February and about half (51.2 percent) of all sales in March 2012.
· The combined share of all distressed property sales continued to decline in March, dropping from 33.2 percent in February to 27.9 percent in March 2013. Distressed properties comprised 48.8 percent of all sales in March 2012.
· Of the distressed properties, the share of short sales was 17.3 percent in March, down from 19.8 percent in February and down from 22.6 percent a year ago. The March figure was the lowest since November 2009.
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The share of REO sales also declined to their lowest level since late 2007, falling from 12.9 percent in February to 10.2 percent in March and down from 25.9 percent in March 2012.
· Housing inventory fell in all three property types in March, with the Unsold Inventory Index for short sales falling from a revised 3.2 months in February to 2.7 months in March and REOs slipping from 2 months in February to 1.8 months in March. The index for equity sales declined from 3.8 months in February to 3 months in March.
Multimedia:
View a chart of pending sales compared with closed sales
| Type of Sale | Mar-13 | Feb-13 | Mar-12 |
| Equity Sales | 72.1% | 66.8% | 51.2% |
| Total Distressed Sales | 27.9% | 33.2% | 48.8% |
| REOs | 10.2% | 12.9% | 25.9% |
| Short Sales | 17.3% | 19.8% | 22.6% |
| Other Distressed Sales (Not Specified) | 0.4% | 0.5% | 0.3% |
| All Sales | 100.0% | 100.0% | 100.0% |
Single-Family Distressed Home Sales by Select Counties (percent of total sales)
| County | Mar-13 | Feb-13 | Mar-12 |
| Alameda | 19% | 22% | NA |
| Amador | 29% | 46% | 64% |
| Butte | 24% | 40% | 40% |
| Contra Costa | 16% | 29% | NA |
| El Dorado | 29% | 39% | 59% |
| Fresno | 41% | 44% | 60% |
| Humboldt | 34% | 26% | 34% |
| Kern | 33% | 37% | 53% |
| Kings | 54% | 41% | NA |
| Lake | 49% | 45% | 63% |
| Los Angeles | 27% | 32% | 48% |
| Madera | 46% | 53% | 68% |
| Marin | 19% | 19% | 29% |
| Mendocino | 27% | 27% | 50% |
| Merced | 39% | 41% | 56% |
| Monterey | 39% | 45% | 49% |
| Napa | 22% | 34% | 53% |
| Orange | 17% | 20% | 38% |
| Placer | 35% | 33% | 51% |
| Riverside | 37% | 39% | 59% |
| Sacramento | 37% | 43% | 59% |
| San Benito | 49% | 44% | 61% |
| San Bernardino | 37% | 43% | 63% |
| San Diego | 9% | 15% | 26% |
| San Joaquin | 42% | 51% | 60% |
| San Luis Obispo | 29% | 21% | 39% |
| San Mateo | 13% | 19% | 27% |
| Santa Clara | 14% | 17% | 32% |
| Santa Cruz | 27% | 34% | 42% |
| Siskiyou | 43% | 60% | 78% |
| Solano | 49% | 52% | 69% |
| Sonoma | 27% | 34% | 53% |
| Stanislaus | 39% | 48% | 70% |
| Tehama | NA | NA | 59% |
| Tulare | 38% | 49% | 62% |
| Yolo | 42% | 38% | 57% |
| California | 28% | 33% | 49% |
Click on graph for larger view
Click on graph for larger view
C.A.R.’s Distressed Home Sales information is generated from a survey of more than 70 associations of REALTORS® and MLSs throughout the state.
CA Distressed Home Sales Statistics for Mar 2013 - Download entire presentation here: PPT PDF
