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Kansas Housing Markets 2011 Forecast

January 13, 2011 Dr. Stanley D. Longhofer WSU Center for Real Estate. Kansas Housing Markets 2011 Forecast. Our Partnership with You.

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Kansas Housing Markets 2011 Forecast

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  1. January 13, 2011 Dr. Stanley D. Longhofer WSU Center for Real Estate Kansas Housing Markets2011 Forecast

  2. Our Partnership with You • In 2008, the WSU Center for real estate entered into a partnership with the Kansas Association of Realtors® and most of your local Realtor® or MLS boards to help provide comprehensive statistics and analysis of MLS data across the state

  3. Our Partnership with You:Statewide Housing Market Data

  4. 2007-2010: Ripple Effects • The end of the subprime era (including piggyback loans) • Layoffs and job market turmoil • An explosion of foreclosure activity • Record low mortgage rates (for those who can qualify) • Homebuyer tax credits (times two)

  5. Existing Home Sales Activity

  6. Existing Home Sales by Month

  7. Existing Home Inventories

  8. U.S. New Home Activity

  9. New Home Sales Activity

  10. New Home Sales by Month

  11. New Home Inventories

  12. New Single-Family Building Permits

  13. Home Price Appreciation

  14. Home Price Appreciation

  15. Kansas Home Price Appreciation

  16. What Can We Expect for 2011? • 2010 was a tumultuous year • Hard to tell the current in the market with all the ripples • How fast markets recover depends in large part on the rest of the economy

  17. Real GDP Growth since 2001

  18. Total Non-Farm Employment

  19. Unemployment Rate

  20. Consumer Inflation

  21. Mortgage Rates

  22. Kansas Forecast Sources: Participating Kansas REALTOR® MLS Systems; U.S. Bureau of the Census; Federal Housing Finance Agency; WSU Center for Real Estate

  23. 2011 Housing Markets Forecast Sources: Heartland MLS; Lawrence Board of REALTORS®; Manhattan Association of REALTORS®; Topeka Area Association of REALTORS®; South Central Kansas MLS; U.S. Bureau of the Census; City of Manhattan; Federal Housing Finance Agency; WSU Center for Real Estate

  24. WSU Center for Real Estate Laying a Foundation for Real Estate in Kansas

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