Tonight we begin a month-long series called housing hope. And each Wednesday we'll take an in depth look at the Wichita Falls housing market. On Wednesday we start with an inside look as to why the nation is in a housing crunch and if Wichita Falls has been affected.

Driving around Wichita Falls it's not hard to find a for sale sign like this one. Many want to sell but many are also concerned with the current nationwide crunch. But homeowners if your looking to sell in Texas, there seems to be some good news.

When it comes to selling houses the nation is in a crunch---and it seems over pricing is to blame!

"We had an incredible escalation of housing prices and evaluation nationwide and that has come to a screeching halt and we have seen a real significant downward spiral," says Dr. Chelte.

Midwestern State's Dean of Dillard College Administration Dr. Anthony Chelte says another factor is sub prime mortgages. Those are loans given to individuals at a higher and adjustable rate because they don't qualify for standard mortgages. And it's hurting many as interest rates go up.

Dr. Chelte says, "Three  years ago they had a house payment for 800 a month today same payment is 1700 dollars."

But thankfully Doctor Chelte says here in Wichita Falls things are different! In fact Chelte says last year was a record for real estate. He says, "The inventory is up a little bit and the number of days on the market are up but not anywhere near the problems we're seeing in markets throughout the country."

He says that's because the value of homes increased modestly over time and were not outrageously overpriced like they were nationwide He adds another plus is there are not many sub prime mortgage problems in our area. Just a few of the positives making Texas and Wichita Falls a good place to sell and a better place to buy! Dr. Chelte says,  "With a larger inventory there are many more opportunities for buyers who can get what they want."

Next Wednesday, our "Housing Hope" series will focus on first time home buyers and the help that's offered that many aren't taking advantage of!