Home price trends in Wichita, Kan.

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City-by-city price comps
Wichita, Kan.

Of the 40 markets we studied, this Midwestern city is one of the only ones with a somewhat stable market. It has experienced a slowdown in sales — a result of tougher mortgage guidelines and worry about the national economy — and slight drops in home prices this year. The Fiserv/Moody’s economics.com study predicts the Wichita market will bottom out this year. Home prices are below equilibrium, according to Local Market Monitor.

Median price end of 2008: $118,200
Median price end of 2007: $113,800
Percent change: 3.9%
Projected change through Q3 2009: -1.1%
Affordability rating: 1.9
Foreclosures in 2008:
(1 for every 150 households)
Foreclosures in 2007:
(1 for every 381 households)
Change in foreclosures: 156.5%
Expected to hit bottom: Q4 2009
Percent drop needed to reach bottom: -2.5%
Current rate comparison
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Price trends
Q1 2008 national median price: $196,100
Q2 2008 national median price: $206,400
Q3 2008 national median price: $200,400
Q4 2008 national median price: $180,100
Q1 2008 local median price: $112,700
Q2 2008 local median price: $125,800
Q3 2008 local median price: $125,300
Q4 2008 local median price: $118,200

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