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New Housing Forecast Shows Home Prices On The Rise

American Advisors Group
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flickr Creative Commons

The 2018 housing forecast shows that home prices will rise and brisk competition will remain among buyers for mid-ranged priced homes.

In 2017, more than one-third of the homes across the state are selling in 10 days or less. That’s especially true for homes priced between $100,000 and $250,000. Stan Longhofer, director of WSU's Center for Real Estate, says demand is really strong in the Wichita housing market, but there aren’t enough homes available for sale.

"As a result, we hav

e home sales that are actually declining slightly this year, but as I said, it’s not because there’s not demand for those homes, but because we don’t have enough homes available on the market that are being listed," Longhofer says.

Last year, Wichita home prices went up by an average of 5.6 percent. Longhofer forecasts continued steady growth over the next two years, 4. 1 percent for 2017 and another 3.7 percent for 2018.

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Carla Eckels is interim news director and the host of Soulsations. Follow her on Twitter @Eckels.

 
To contact KMUW News or to send in a news tip, reach us at news@kmuw.org.

 

Carla Eckels is Director of Organizational Culture at KMUW. She produces and hosts the R&B and gospel show Soulsations and brings stories of race and culture to The Range with the monthly segment In the Mix. Carla was inducted into The Kansas African American Museum's Trailblazers Hall of Fame in 2020 for her work in broadcast/journalism.