distressed sales - november 2015

DISTRESSED SALESPRESS RELEASE

December 22, 2015

SHARE OF EQUITY SALES DOWN FROM SEP 15,BUT STILL NEAR THE HIGHEST LEVEL IN SIX YEARS

93.4%

2.9%3.3%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Jan‐09

Apr‐09

Jul‐0

9Oct‐09

Jan‐10

Apr‐10

Jul‐1

0Oct‐10

Jan‐11

Apr‐11

Jul‐1

1Oct‐11

Jan‐12

Apr‐12

Jul‐1

2Oct‐12

Jan‐13

Apr‐13

Jul‐1

3Oct‐13

Jan‐14

Apr‐14

Jul‐1

4Oct‐14

Jan‐15

Apr‐15

Jul‐1

5Oct‐15

Equity Sales Short Sale REO

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

OVER NINE OF TEN SALES WERE EQUITY SALES

REOs, 3.3%

Short Sales, 2.9%

Other Distressed Sales (Not Specified),

0.4%

Equity Sales, 93.4%


California: November 2015

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

93%

3% 3%

94%

3% 3%

91%

4% 4%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Equity Sales Short Sales REO Sales

Nov‐15 Oct‐15 Nov‐14


Type of Sale Nov‐15 Oct‐15 Nov‐14

Equity Sales 93.4% 93.7% 90.9%

Total Distressed Sales 6.6% 6.3% 9.1%

REOs 3.3% 3.3% 4.2%

Short Sales 2.9% 2.7% 4.5%

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

All Sales 100.0% 100.0% 100.0%

SHARE OF DISTRESSED SALES NEAR THE LOWEST LEVEL SINCE LATE 2007


DISTRESSED SALES

Percent of Total Sales, Bay Area: November 2015

3% 3%

1%

3%

1% 1%1%

7%

3%

0%

1%

2%

3%

4%

5%

6%

7%

8%

Alameda ContraCosta

Marin Napa SanFrancisco

San MateoSanta Clara Solano Sonoma


DISTRESSED SALES

Percent of Total Sales, Southern California: November 2015

8%

5%

8%

10%

4%

0%

2%

4%

6%

8%

10%

12%

Los Angeles Orange Riverside San Bernardino San Diego


DISTRESSED SALES

Percent of Total Sales, Central Valley: November 2015

9%

22%

7%

10%

4%

9%

6%

9% 9%10%

0%

5%

10%

15%

20%

25%


DISTRESSED SALES

Percent of Total Sales, Rest of California: November 2015

0%

11% 10%9%

28%

11%

5%

0%

11%

3%

10%

3%2%

10%

14%

5%

23%

3%

10%

0%

5%

10%

15%

20%

25%

30%


County Nov‐15 Oct‐15 Nov‐14

Alameda 3% 3% 4%

Amador 0% 6% 7%

Butte 11% 5% 13%

Calaveras 10% 8% 19%

Contra Costa 3% 3% 3%

El Dorado 9% 5% 7%

Fresno 9% 12% 16%

Glenn 28% 6% 29%

Humboldt 11% 11% 12%

Kern NA 10% 10%

Kings 22% 7% 18%

Lake 5% 7% 19%

Los Angeles 8% 7% 9%

Madera 7% 19% 14%Marin 1% 3% 2%

SHARE OF DISTRESSED SALES BY COUNTY

Percent of Total Sales: 1 of 3






Mariposa 0% 0% 10%

Mendocino 11% 10% 13%

Merced 10% 11% 17%

Monterey 3% 6% 9%

Napa 3% 3% 7%

Orange 5% 4% 5%

Placer 4% 6% 8%

Plumas 10% 3% 13%

Riverside 8% 10% 13%

Sacramento 9% 7% 12%

San Benito 6% 6% 3%

San Bernardino 10% 10% 16%

San Diego 4% 4% 6%

San Francisco 1% 0% 1%San Joaquin 9% 7% 11%





San Luis Obispo 3% 3% 6%

San Mateo 1% 1% 1%

Santa Clara 1% 2% 2%

Santa Cruz 2% 1% 6%

Shasta 10% 11% 19%

Siskiyou 14% 16% 24%

Solano 7% 7% 9%

Sonoma 3% 3% 5%

Stanislaus 9% 7% 10%

Sutter 5% 4% 21%

Tehama 23% 8% 24%

Tulare 10% 12% 17%

Yolo 3% 5% 8%Yuba 10% 12% 16%

California 7% 6% 9%

REO & SHORT SALES

Percent of Total Sales, Bay Area: November 2015

2%

0%1%

3%

1% 1% 1%

4%

1%

1%

3%

0%

0%

1% 0% 1%

3%

2%

0%

1%

2%

3%

4%

5%

6%

7%

8%

Alameda ContraCosta

Marin Napa SanFrancisco

San MateoSanta Clara Solano Sonoma

REO Sales Short Sales


REO & SHORT SALES


3%2%

5%5%

1%

4%

2%

3%

5%

3%

0%

2%

4%

6%

8%

10%

12%

Los Angeles Orange Riverside San Bernardino San Diego

REO Sales Short Sales


REO & SHORT SALES


6%

14%

7%4% 3% 4% 3% 5% 6% 8%

3%

8%

0%6%

1%

4%3%

3% 2%3%

0%

5%

10%

15%

20%

25% REO Sales Short Sales


REO & SHORT SALES

Percent of Total Sales, Rest of California: November 2015

0%

9% 10%

4%

17%

9%5%

0%2% 1% 2%

8%11%

0%

9%

3%

16%

1%

8%

0%

2% 0%

3%

6%

2%

0%

0%

2%1% 0%

2%0%

2%

3%

2%

0%

2%

2%

0%

5%

10%

15%

20%

25%REO Sales Short Sales


REO SALES BY COUNTY

Percent of Total Sales: 1 of 3County Nov‐15 Oct‐15 Nov‐14

Alameda 2% 2% 1%

Amador 0% 6% 7%

Butte 9% 4% 11%

Calaveras 10% 6% 16%


El Dorado 4% 3% 4%

Fresno 6% 8% 9%

Glenn 17% 6% 29%

Humboldt 9% 7% 10%

Kern NA 7% 5%

Kings 14% 5% 7%

Lake 5% 6% 16%


Madera 7% 19% 14%Marin 1% 2% 1%


REO SALES BY COUNTY




Mariposa 0% 0% 0%

Mendocino 9% 8% 11%

Merced 4% 7% 9%

Monterey 2% 3% 3%

Napa 3% 0% 6%

Orange 2% 1% 1%

Placer 3% 2% 3%

Plumas 10% 3% 9%

Riverside 5% 5% 6%

Sacramento 4% 3% 5%

San Benito 3% 4% 0%


San Diego 1% 1% 2%


REO SALES BY COUNTY





San Mateo 1% 1% 1%


Santa Cruz 2% 1% 3%

Shasta 8% 10% 13%

Siskiyou 11% 16% 24%

Solano 4% 3% 4%

Sonoma 1% 3% 3%

Stanislaus 6% 4% 6%

Sutter 3% 3% 13%

Tehama 16% 8% 14%

Tulare 8% 9% 12%

Yolo 1% 1% 3%Yuba 8% 9% 5%

California 3% 3% 4%

SHORT SALES BY COUNTY

Percent of Total Sales: 1 of 3County Nov‐15 Oct‐15 Nov‐14

Alameda 1% 2% 3%

Amador 0% 0% 0%

Butte 2% 1% 2%

Calaveras 0% 2% 3%


El Dorado 3% 1% 3%

Fresno 3% 4% 7%

Glenn 6% 0% 0%

Humboldt 2% 4% 2%

Kern NA 3% 5%

Kings 8% 2% 11%

Lake 0% 1% 3%


Madera 0% 0% 0%Marin 0% 0% 1%






Mariposa 0% 0% 10%

Mendocino 2% 2% 3%

Merced 6% 5% 8%

Monterey 1% 3% 6%

Napa 0% 3% 1%

Orange 2% 2% 3%

Placer 1% 4% 3%

Plumas 0% 0% 3%

Riverside 3% 4% 6%

Sacramento 4% 4% 6%

San Benito 3% 2% 3%


San Diego 3% 2% 3%







San Mateo 0% 0% 1%


Santa Cruz 0% 1% 3%

Shasta 2% 0% 6%

Siskiyou 3% 0% 0%

Solano 3% 4% 4%

Sonoma 2% 0% 3%

Stanislaus 2% 3% 5%

Sutter 2% 1% 8%

Tehama 0% 0% 3%

Tulare 3% 2% 5%

Yolo 2% 3% 3%Yuba 2% 3% 11%

California 3% 3% 5%

MEDIAN PRICE OF EQUITY SALES IN NOVEMBER HIGHEST SINCE JULY 2015

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000Jan‐09

Apr‐09

Jul‐0

9Oct‐09

Jan‐10

Apr‐10

Jul‐1

0Oct‐10

Jan‐11

Apr‐11

Jul‐1

1Oct‐11

Jan‐12

Apr‐12

Jul‐1

2Oct‐12

Jan‐13

Apr‐13

Jul‐1

3Oct‐13

Jan‐14

Apr‐14

Jul‐1

4Oct‐14

Jan‐15

Apr‐15

Jul‐1

5Oct‐15



MEDIAN PRICE OF EQUITY SALES INCREASED FROM LAST YEAR

‐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

Oct‐15



yty% chg. in Price

UNSOLD INVENTORY INDEX

0

1

2

3

4

5

6


4.2

7.0

3.4

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

UNSOLD INVENTORY INDEX (MONTHS)


ACTIVE LISTINGS REMAINED AT LOW LEVELS

0

1

2

3

4

5


3.03.1

2.3

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



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

Oct‐15

Equity Sales Short Sales REO

UNSOLD INVENTORY INDEX UP FOR ALL SALES TYPES

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


7.0

4.2

3.4

EQUITY SALES INCREASED MODERATELY FROM LAST YEAR

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

0

5,000

10,000

15,000

20,000

25,000

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

Oct‐15



‐35%

‐30%

‐25%

‐20%

‐15%

‐10%

‐5%

0%

5%

10%


8%

‐32%

‐16%

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% Equity Sales Short Sales REO Sales


yty% chg in sales

7.8%

‐31.8%

‐15.6%

DISTRESSED SALES

Percent of Total Sales: November 2015

0%

20%

40%

60%

80%

100%

Nov‐15 Jan‐09


DISTRESSED SALES

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

0%

10%

20%

30%

40%

50%

60%

70%

80%

CA Alameda Contra Costa San Francisco San Mateo Santa Clara

6.6%3.3% 3.2% 1.1% 1.0% 1.4%

69.1%75.7%

68.5%

34.5%

48.2%

68.0%

Nov‐15 Jan‐09


DISTRESSED SALES


0%

20%

40%

60%

80%

100%

CA Los Angeles Orange Riverside San Bernardino

6.6% 7.7% 5.1% 8.1% 9.9%

69.1%63.2% 60.2%

80.1% 82.8%

Nov‐15 Jan‐09


DISTRESSED SALES


0%

20%

40%

60%

80%

100%

6.6% 9.2%4.2% 8.6% 6.3% 8.9% 8.8% 10.4%

69.1%

84.2%

68.4%

85.6% 89.5% 93.0% 93.6%

45.8%

Nov‐15 Jan‐09


distressed sales - november 2015

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