Wichita’s real estate market is red-hot

Local

WICHITA, Kan. (KSNW) – Across the country, home sales hit unexpected highs this year. As the pandemic keeps people home, many people have taken the opportunity to sign on the dotted line. Home buyers in Wichita are no exception. 

“We have less homes for sale and even more buyers. And so that’s pushing prices higher and homes are getting multiple offers selling in only a few days, sometimes only a few hours,” said Marcus Baysinger, real estate agent.

According to Baysinger, as the pandemic began to affect many industries, this red-hot market is not something many realtors expected. 

The demand for homes has been so high this year that there seems to not be enough houses for buyers to purchase. Baysinger said that extremely low interest rates, coupled with the fact that people are cooped up at home has driven many people to buy. 

“When you’re home 24 seven with everybody at home, I think a lot of people are saying, okay, we might need to get a little bit more square footage here,” said Baysinger. 

According to the WSU Housing forecast for next year, this home-buying trend is likely to continue.

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