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Wichita Home Sales Decline
Housing sales are down in the Wichita area this year, but experts say that doesn't mean buyers will have lots of choices.
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Housing sales are down in the Wichita area this year, but there aren't many homes available for sale. That's the word from Friday's real estate round table at Wichita State University.
More than 125 of the area's top real estate agents, builders and developers were on hand. The information will be used to develop WSU's Center for Real Estate Housing Market Forecast.
The Center's director, Stan Longhofer, says sales in the Wichita area have started to decline from previous years good numbers. However, home buyers will find fewer homes to choose from than the national average.
"Our inventories are very, very tight," Longhofer says. "Nationwide, there is a 10 month supply of homes for sale, but here in Wichita, it's closer to a four month supply."
Longhofer also says the housing market forecast for the rest of this year and 2009 will be released around the middle of September.
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