Kansas Foreclosure Activity Rose in May

Statewide foreclosure filings up 36 percent from April

 

Foreclosure activity in Kansas rose 36 percent in May to 1,238 properties with foreclosure filings. This latest state total represents a 38 percent increase from the level reported in May 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Kansas reported another hike in foreclosure activity in May, posting activity above last month and as compared to this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state remains relatively steady at 6.3 percent, well below the national average, but apparently not low enough to help some residents hold onto their homes.”

 

The state’s foreclosure rate ranked 32nd in the nation, as one in every 991 Kansas housing units received a foreclosure filing during the month.

 

Wyandotte County led the state in foreclosure rate for May

Wyandotte County posted the highest foreclosure rate in Kansas for May, with one in every 155 housing units receiving a foreclosure filing — 6.4 times the state average. Johnson County had the second highest foreclosure rate, with one in every 541 housing units receiving a foreclosure filing — 1.8 times the state average. Shawnee County had the third highest foreclosure rate, with one in every 786 housing units receiving a foreclosure filing.

 

Wyandotte County tops in foreclosure total for May

Wyandotte County also led the state in activity, reporting 437 properties with foreclosure filings for the month. Johnson County had the second highest total, documenting 401 properties with foreclosure filings. Reporting 163 properties with foreclosure filings for the month, Sedgwick County had the third highest total. Shawnee County was fourth highest, reporting 101 properties with foreclosure filings.

 

State a minor contributor to nation’s monthly foreclosure total in May

Kansas accounted for less than 1 percent of the 322,920 properties with foreclosure filings reported nationwide in May. Total U.S. activity declined by more than 3 percent from the previous month but was on par with the level reported in May 2009. One in every 400 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Kansas Top Foreclosure Rates By County – May 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,389

58,073

94,155

38,526

93,777

322,920

400

n/a

n/a

Kansas

0

141

0

417

680

1,238

991

0.40

n/a

 

 

 

 

 

 

 

 

 

 

Wyandotte

0

49

0

112

276

437

155

2.57

6.38

Johnson

0

55

0

146

200

401

541

0.74

1.83

Shawnee

0

17

0

43

41

101

786

0.51

1.26

Leavenworth

0

3

0

15

8

26

1,093

0.37

0.91

Sedgwick

0

9

0

75

79

163

1,282

0.31

0.77

 

 

Kansas Top Foreclosure Totals by County – May 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Apr 10

% Chg May 09

 

 

 

 

 

 

 

 

 

 

United States

38,389

58,073

94,155

38,526

93,777

322,920

400

-3.27

0.45

Kansas

0

141

0

417

680

1,238

991

36.19

37.71

 

 

 

 

 

 

 

 

 

 

Wyandotte

0

49

0

112

276

437

155

144.13

144.13

Johnson

0

55

0

146

200

401

541

-6.74

13.28

Sedgwick

0

9

0

75

79

163

1,282

158.73

-27.56

Shawnee

0

17

0

43

41

101

786

-18.55

87.04

Douglas

0

6

0

14

13

33

1,420

50.00

57.14

 

 

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