Dollars & Sense

Housing recovery reduces foreclosure activity

Updated: 2013-06-13T03:20:58Z

By STEVE ROSEN

The Kansas City Star

Rising home prices and increasing sales continue to put downward pressure on foreclosure activity nationwide and in Kansas and Missouri.

Nationally, the number of homes facing foreclosure actions — bank repossessions, default notices and scheduled auctions — fell 28 percent in May from a year earlier, according to a report released Thursday by RealtyTrac, a housing research firm based in Irvine, Calif. Last month, about 148,000 single-family homes were facing some form of foreclosure activity, the company said.

In Kansas, foreclosure actions fell more than 41 percent from May 2012. The 812 homes facing foreclosure amounted to one for every 1,513 homes in the state, RealtyTrac said.

Foreclosure activity in Missouri fell 28.1 percent to 1,805 homes in May from a year earlier. That represented one house for every 1,497 properties statewide.

However, RealtyTrac said foreclosure actions nationwide climbed 2 percent in May from April’s 75-month low. Activity in Kansas and Missouri also increased in May from a month earlier.

“Foreclosure activity continued to bounce back in some markets where it may have appeared the problem had been knocked out by an aggressive combination of prevention efforts over the past two years,” said Daren Blomquist, a RealtyTrac vice president.

Among the worst states were Nevada and Maryland.

But Blomquist said the housing recovery has “strengthened most local markets enough to quickly shake off a few more blows from these nagging foreclosures.”

To reach Steve Rosen, call 816-234-4879 or send email to srosen@kcstar.com.

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