Lenders initiated fewer foreclosure actions in Kansas and Missouri in August, a reflection of an improving housing market and fewer problem loans dating back to the recession.
The number of foreclosure actions in Kansas — default notices, scheduled auctions and bank repossessions — fell 39 percent from August 2012 to 465 properties, according to data released Thursday by the foreclosure listing firm RealtyTrac Inc. Kansas ranked 40th nationwide in problem residential properties.
The number of foreclosure actions in Missouri last month fell nearly 41 percent from August 2012, RealtyTrac said. The state ranked 31st with 1,419 homes in trouble.
Nationwide, lenders initiated foreclosure actions in August against the fewest homes for any month in nearly eight years, RealtyTrac said.
Although 55,775 homes entered the foreclosure process last month, that was down 44 percent from August 2012.
“The foreclosure floodwaters have receded in most parts of the country,” said Daren Blomquist, vice president at RealtyTrac.
But he said a recent surge in bank repossessions is likely to continue into 2014.
Nevada had the highest foreclosure rate in the nation last month, followed by Florida and Ohio.
Among cities with a population of 200,000 or more, the Port St. Lucie metro area in Florida posted the nation’s highest foreclosure rate.