Wichita area home prices rise, but at less than half the national rate

Wichita area home prices in May rose 2.5 percent from a year ago, May 2015, according to CoreLogic.

In Kansas, home prices were up 3.9 percent for the year, setting an all time high, while in the U.S. home prices were up 5.9 percent.

“From a regional perspective, the Pacific Northwest continues to be the hottest area for home-price growth, with Oregon and Washington leading the way,” said Anand Nallathambi, president and CEO of CoreLogic, in a statement. “The recent turbulence in financial markets should lead to modestly lower mortgage rates, which will provide even more support to the steadily improving real estate recovery.”

This story was originally published July 5, 2016 at 9:17 AM with the headline "Wichita area home prices rise, but at less than half the national rate."