National Coverage of Our Local Market

Thanks to Bill Wilson at the Eagle for pointing this out in his blog. On Tuesday, February 24th, the USA Today had an article on the Wichita real estate market. It appears to be a true picture of where we are right now. Sales have slowed considerably but inventories remain low and prices are firm. Sales have slowed as buyers and sellers digest the current housing market. The credit crisis last fall created the first big concern. More recently layoffs in the local job market and uncertainty about the new administration stimulus plan has impacted consumer confidence. People are taking a wait and see attitude. As the article points out, since we have not had the big real estate bubble other communities have seen, sellers are not being forced to sell. Consequently, would be sellers are standing on the side lines with would be buyers.

When consumer confidence returns so will the real estate activity. In the mean time, be thankful we live in a relatively stable market.

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