Delinquencies and foreclosures
Kansas’ foreclosure inventory as of this past December stood at 0.6 percent of all homes with a mortgage, compared with the national rate of
0.8 percent, CoreLogic reports. The Jayhawk State’s serious delinquency
rate — an indicator of how many loans are in the foreclosure pipeline
— as of the same period was 2.3 percent, which was slightly below the
national mark of 2.6 percent.
Foreclosure activity in Kansas reached a high mark of 3,599 defaults,
auctions and bank repossessions in first-quarter 2011 and subsequently declined by about one-third, to 1, 113 filings as of third-quarter 2014.
Foreclosure activity, driven by a sharp increase in property auctions,
spiked upward again in 2015, reaching a high of 1,804 filings in the third
quarter of that year. Since then, foreclosure activity in the state has
declined to 1, 136 filings as of first-quarter 2017.
The unemployment rate in Kansas has run well below the national rate
for the past 10 years, with the divergence actually widening during the
recession. The U.S. unemployment rate hit a recession-era high mark
of 10 percent in October 2009, U.S. Department of Labor (DOL) figures
show. The Kansas unemployment rate at that time was 7.2 percent.
As of this past April, Kansas reported an unemployment rate of 3. 7 percent, compared with the national rate of 4. 3 percent that month.
The Jayhawk State’s unemployment rate for 2016 ranked near the middle of the pack nationally, at 4.2 percent — the 18th lowest among all
the states, according to the DOL. Total nonfarm employment in Kansas is
projected to expand by 0.9 percent in 2017, up from an estimated growth
rate of 0.2 percent in 2016, according to WSUCRE.
Sources: Attom Data Solutions, Business Insider, CoreLogic, Federal Reserve Bank of
Philadelphia, Forbes, Go Topeka.com, History.com, Kansas Association of Realtors,
Kansas Department of Commerce, Kansas Department of Labor, Kansas Independent
Oil & Gas Association, Los Angeles Times, National Association of Manufacturers,
Realtor.com, U. S. Department of Agriculture, U. S. Department of Commerce,
U. S. Department of Labor, University of Kansas, Wichita State University
Bill Conroy is managing editor of Scotsman Guide Media.
Reach him at (800) 297-6061 or firstname.lastname@example.org.
This city of 91,000 people is home to the main campus of the University of Kansas, a major public research and teaching institution serving
some 28,000 students. As a college town, Lawrence boasts a thriving
mix of restaurants, bars, music venues and retail outlets — many found
along Massachusetts Street in downtown Lawrence. The median listing price for a home in Lawrence, as of this past March, was $238,000,
This community of some 387,000 people is the largest city in Kansas
and is known as the “Air Capital of the World” because of its history as
a center for aviation and aerospace manufacturing. The city is home to
several universities, including Wichita State University, and was ranked by
Business Insider in 2015 as the top city in the country for first-time homebuyers. As of this past March, according to Realtor.com, the median listing
price for a home in Wichita was $164,000.
The capital of Kansas, and the state’s fifth largest city with a population
of 128,000, is marked by a diverse industry base in addition to being a
seat of government. Major employers in Topeka include Blue Cross and
Blue Shield of Kansas, BNSF Railway and Goodyear. Topeka notched a
place in history as a result of the 1954 landmark U.S. Supreme Court
case Brown v. Board of Education of Topeka, which declared segregation in public schools based on race unconstitutional. As of this past
March, the median listing price for a home in Topeka was $98,000,
according to Realtor.com.
3 Cities to Watch
Kansas Foreclosure Filings
Source: Attom Data Solutions
Defaults Auctions REO