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Kansas home sales, values forecast higher in 2013

Published on -10/11/2012, 9:33 AM

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WICHITA, Kan. (AP) -- Researchers say Kansas home sales have rebounded this year and are forecast to rise more than 6 percent in 2013 thanks to a growing economy.

Wichita State University's Center for Real Estate Management released a forecast Thursday that shows home sales are on track to rise by nearly 13 percent in 2012.

The center found that home prices across Kansas are appreciating at an average rate of nearly 2 percent this year. A 1.5 percent increase in home values is forecast for next year.

The study says new home construction statewide is on pace to go up only slightly his year as declines in Wichita offset strong gains in Kansas City, Lawrence and Manhattan. The report predicts home construction in Kansas will fall 7 percent in 2013.

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