Kansas home sales fell by 35.7% percent in October 2010 compared to October of last year, according to new figures released by the Kansas Association of REALTORS®. Sales totaled 1,896 units in October, down from 2,949 units in 2009. In comparison, sales on a national level decreased 25.9% for the month.
Across the state there were 21,199 active listings at the end of the month. Supply of new and existing homes on the market — which is determined by taking the number of active listings and dividing it by the number of sales — represents 11.2 months.
According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage fell to a record low 4.23 percent in October from 4.35% in September, the rate was 4.95 percent in October 2009.