Wichita’s housing shortage will likely get worse in 2024, according to a new forecast from the Wichita State Center for Real Estate. Home prices are expected to stay high, and fewer units will be sold next year than in 2023, said Stanley Longhofer, the center’s founding director who pens annual analyses of Kansas’ major real estate markets. At least that’s his best guess, based on local and national economic indicators. “Housing markets have been so crazy over the past few years, it can be hard to see through the distortions to understand what ‘normal’ really is,” said Longhofer, who will present his findings at the Kansas Association of Realtors Annual Conference in Manhattan on Thursday. The center projects that home sales in Wichita metro area will end the year down by 10.4% with 9,470 units sold and that that figure will drop another 80 units in 2024.
Source: KLC Journal
