distressed sales, august 2015

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%


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


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


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


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


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%


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%


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






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%





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


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


REO & SHORT SALES


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


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


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%


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%


Madera 10% 8% 15%Marin 1% 1% 1%


REO SALES BY COUNTY











REO SALES BY COUNTY




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%


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%


Madera 0% 3% 2%Marin 0% 1% 1%






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



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



yty% chg. in Price

UNSOLD INVENTORY INDEX

0

1

2

3

4

5

6


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%


13%

-26%

-14%

DISTRESSED SALES CONTINUED TO DECLINE,ESPECIALLY FOR SHORT SALES

(% Change in Sales Year toYear)


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


yty% chg in sales

DISTRESSED SALES

Percent of Total Sales: August 2015

0%

20%

40%

60%

80%

100%

Aug-15 Jan-09


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


DISTRESSED SALES


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


distressed sales, august 2015

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