WICHITA, Kansas -- Growing home sales in Wichita have area builders optimistic.
As homes follow the law of supply and demand, it appears the real estate market here is making a rebound.
"We're seeing more permits to start construction, starts are up a little bit," explains CEO of Wichita Area Association of Realtors Tessa Hultz
Wichita real estate experts say we're seeing home sales numbers higher than in years past.
So far, this year we're 7 percent ahead of last year, and we're keeping pace with 2010 home sales when the homebuyer tax credit was in effect.
"The fact that we're keeping pace with that now with no incentives and nothing like that is evidence of a strong selling market," says Hultz.
And the trend is carrying through to new home builders like Marv Schellenberg.
"We're seeing that in the new home site because people are now coming out saying their home is sold so that's a positive sign," says Schellenberg.
Of this latest phase of construction out here at Fox Ridge, over half the lots sold before construction even started, and now that construction has started developers expect the rest of the lots to sell out quickly thanks to the help of these model homes that are just days away from being finished.
Sold signs are everywhere.
Schellenberg attributes some of that to crazy-low interest rates.
"It's not always gonna be that way, that will change that's one thing we do know that low interest rates aren't gonna be this way."
While Hultz boils it down to this, "We've seen the value of home ownership challenged in a way it hasn't been in literally a lifetime and then we're seeing sales rebound again and it goes to show there's no place like home."
Real estate experts say the majority of homes selling in Wichita are in the west and northeast parts of the city.
Homeowners typically get 90 percent or more of their list price at closing.
