July brings good news for Wichita area home sellers

(File photo)

Wichita home prices increased by 4.4 percent in July compared with July 2015, according to real estate analytics firm CoreLogic.

Compared to June, July home prices in Wichita were up 0.5 percent. Nationally, home prices in July rose by 6 percent from a year ago.

And CoreLogic predicts that national home prices will rise 5.4 percent over the next year.

"If mortgage rates continue to remain relatively low and job growth continues, as most forecasters expect, then home purchases are likely to rise in the coming year," said Frank Nothaft, chief economist for CoreLogic, in a statement.