WSU Center for Real Estate releases Housing Markets Forecast
Oct 6, 2010 8:51 AM | Print
Kansas home sales will rise by 4.2 percent in 2011, while home price appreciation across the state will remain essentially flat. So says the 2011 Kansas Housing Markets Forecast, published today by the Wichita State University Center for Real Estate.
Longhofer will present the forecast at the Wichita Marriott at 8:15 a.m. Wednesday, Oct. 6. He will be available for interviews after his presentation at about 9:30 a.m.
The 2011 Kansas Housing Markets Forecast reviews current housing market conditions in markets across the state – including Kansas City, Lawrence, Manhattan, Topeka and Wichita – and forecasts housing market activity through the end of 2011.
The title of this year's forecast is "Ripple Effects," reflecting the challenges in identifying underlying market trends in the wake of the federal home buyer tax credit programs.
Highlights of the 2011 Kansas Housing Markets Forecast include the following.
• Home sales – Sales across the state should fall 3.4 percent this year to 29,600 units, due largely to the sharp third quarter decline following the expiration of the home buyer tax credit. Sales should rebound in 2011, rising by 4.2 percent to 30,850 units.
• Home sales – Total home sales in the Kansas City area will end the year down 5.1 percent at 24,450 units. Sales activity should rebound in 2011, rising by 2.5 percent to 25,050 units.
• Home sales – Total home sales in the Lawrence area are on pace to rise by 4.6 percent this year to 1,310 units. Sales activity should accelerate in 2011, with sales rising by 9.2 percent to 1,430 units.
• Home sales – Total home sales in the city of Manhattan will remain essentially unchanged in 2010 at 600 units. Sales should rise by 3.3 percent in 2011 to 620 units.
• Home sales – Total home sales in the Topeka area should rise by 2 percent in 2010 to 2,670 units. Sales will rise to 2,700 units in 2011, a 1.1 percent increase.
• Home sales – Total home sales in the Wichita area will decline by 5.5 percent in 2010 to 8,140 units. Sales will rebound in 2011, rising by 6.6 percent to 8,680 units.
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