Significant housing shortage observed in surrounding Wichita
WICHITA, Kan. (KWCH) – If you’re looking for a new home in Wichita, you’ve probably learned how competitive it is to get the home you want. Currently there are only 590 homes on the market and 284 more homes were sold this year compared to last year at this time.
There is a serious housing shortage in and around Wichita. Broker Stephanie McCurdy said the average home in the area has been on the market for 29 days, a time she says is short when it comes to buying and selling a home. Its low interest rates play a big role in the current situation.
McCurdy has worked in real estate for about 20 years and has said that what she sees now is unlike anything she has experienced before.
âWe’ve never had a market that mimics exactly what we have now,â she said. âEven when we had the crash from 2009 to 2011, we didn’t see such a tight market.â
McCurdy said a big challenge she faces with her buyers is for them to go to sites like Zillow and fall in love with a house that appears to be available, but they don’t. She said the homes on the market were selling so quickly that apps and websites were struggling to keep up.
âWe’re looking for it and it’s either already on hold, or it’s already sold and closed, or it’s just stale data. And it becomes very frustrating for them, âsaid McCurdy.
If you want to buy a house, she says there is at least one thing you can do to move forward.
âSo the first step in buying a home is to get a pre-qualified lender,â McCurdy said. âMake sure you interview lenders and find out what their rates are and what their closing costs are, and then you can take legal action to buy a house. So when you look at homes you have chosen your lender, you know what your costs will be. This makes it easier for you and your agent to get the best opportunity to buy that home, even in a multiple offer situation. “
She added that if you find a home you like on the market, don’t hesitate.
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