Print edition: 
For the first time in several years, there’s optimism as the Wichita housing market winds toward the end of the year.
With historically low interest rates and some positive news at Bombardier, brokers and lenders say they’re busier this November than in several years. Rates currently are hovering around 4.25 percent on a 30-year mortgage and 4 percent on a 20-year note.
And it shows in the monthly Wichita area home sales report. While sales dropped from September to October, they’re up slightly over 2010 and the pipeline of potential deals is filling up.
“It’s been good,” said Brodrick Jayroe, who owns Realty Executives of Wichita. “I think that some of the positive news coming out of our aviation companies has given buyers more confidence. I feel real good. There’s tons of stuff in the pipeline.”
John McKenzie, president of Wichita’s Coldwell Banker Plaza Real Estate, agreed with Jayroe.
“Activity is up since the Bombardier announcement and the announcement on the recent Boeing order,” he said. “We are seeing consumer confidence rising and I suspect it will be reflected with first quarter of 2012. Last quarter of 2011 will be relatively flat until then.”
It’s the same story for lenders, who say sales numbers are up and refinancing traffic remains strong.
“It’s not anything extreme or anything like that, but compared to last year or the year before when the housing recession was more intensified, we’re certainly busier than normal in November,” said Dan Jones, regional lending manager for Capitol Federal in Wichita.
New and existing home sales dropped sharply month-to-month in October in the Wichita market. They remained essentially flat with 2010, according to figures released late Friday by the Wichita Area Association of Realtors and the South Central Kansas Multiple Listing Service.
A total of 558 new and existing homes were sold in October, down 20 percent from September but basically flat with the 547 homes sold in October 2010.
New home sales remained weak in October, according to the report, with 35 new homes sold, up seven from September.
Home sales traditionally lag in the Wichita market as weather turns colder. Analyst Stan Longhofer of Wichita State University said last month that new home sales will remain weak until potential buyers gain confidence in their ability to sell their current homes.
