The last month and especially last week was good economic news for Wichita, KS.
The unemployment rate in November, 2011 dropped to 8.6% nationally and dropped to 7.2% for the Wichita metro area and 6.7% for Kansas. Jobless claims the middle of December, 2011 dropped to 366,000. A sustained rate of 375,000 or below shows a economic recovery in place.
Last week the average 30 year, fixed rate mortgage dropped to 3.94% matching the all time low in October, 2011.
The Center for Real Estate at Wichita State University and the Wichita Board of Realtors reported sales activity for all of 2008 and January of 2009 this week.
Real estate sales forecast for 2009 shows existing home sales at around 7,500 units, 11% less than 2008. New home sales are expected to decline by 17% to 1,280 units. Building permits are also expected to decline 19% from 2008 levels.
No rebound in sales levels are expected until the 4th quarter of 2009. This date could be extended depending on how … (1 comments)
kansas real estate: Wichita, KS real estate update
- 10/30/08 03:56 AM
The "Old Town" entertainment district in Downtown Wichita was just voted one of the "top ten neighborhoods" for revitalizing and cleaning up polluted areas in America's cities.
The Wichita City council has approved $25 million in industrial revenue bonds to be used to purchase the Broadview hotel in down town Wichita and completely renovate the property down to its studs. The Hotel was purchased by the Drury hotel company and will be open for one year before closing for a year to completely renovate the property.
In October, 2008, Wichita was rated by the RE/MAX-AP report on U.S. Housing … (0 comments)
Listing were also down at an slightly higher rate which caused the market in our area to be balanced and in some cases having us experience multiple offers.
The market for homes under $150,000 is very strong if the home is in good repair and priced in the correct value range.
Total listings on the market and new home inventories are unchanged from a year ago. His is in … (0 comments)
Jobless rate in Wichita plunges: In October the unemployment rate fell to 3.3% from 4.1% in September. This is the lowest the rate has been since 1999.
Cessna was the successful bidder for Columbia Aircraft in Oregon. Columbia makes a low wing, single engine plane that will fit in the middle of the Cessna product line.
Mid Continent Airport passenger Traffic rose 10% over the same time last year.
Summer county received 4 Casino proposals yesterday with total investment in the $500,000,000 range. Good news for the local area.
;)
;)
;)
