Wichita housing market to see continued growth in 2013
Wichita home sales are expected to go up again in 2013, according to a forecast from the Center for Real Estate at Wichita State University.
Center director Stan Longhofer says there has been 2 years of steady growth in Wichita, and in markets across the state. Sales in Wichita are on pace to be 7 percent higher for this year, and Longhofer is looking for another 4 percent increase next year in the local market, with a 6 percent increase statewide.
Longhofer says the inventory of existing homes has declined, and that should cause home prices to rise 1.3 percent next year. He says new home construction continues to be slow, and the problem is not the demand for new homes, but buyers and builders have had problems securing financing, so he expects new home permits to be up only 2 percent.
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