How the housing market in your state determines who will win the mid-term elections

by Rachel.Norvell17 Oct 2014

Kansas housing market favors Republican incumbent

Kansas Senate race is close between Republican Senator Pat Roberts and independent Greg Orman, who gained a major boost after the state’s Democratic nominee, Chad Taylor, withdrew from the race.  The state has remained Republican, and based on the housing market, RealtyTrac said Roberts stands a good chance. Of the 22 counties in Kansas scored, 21 were categorized as better off while one was categorized as a toss-up and none were categorized as worse off.

In Kansas’ three largest real estate markets — Johnson County, Sedgwick County and Shawnee County unemployment is down compared with two years ago. Home prices are up in all three major Kansas housing markets, with Johnson County up 11%), Sedgwick County up 3%  and Shawnee County up 18%.

The rise in home prices without a corresponding rise in incomes is worsening the affordability situation in the major Kansas counties. The percentage of median income needed to purchase a median priced home is up 3 percentage points from two years ago in Shawnee County and is up 2 percentage points in Johnson County, while Sedgwick County is up 1 percentage point.

Click here to view RealtyTrac’s Housing Scorecard.

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