Up until last November, Wichita was selling about 25% of the listings each month. Yes, it was still a sellers market although it did not feel like one. Listings have gone down. Builders are not building as many spec homes and people that would normally be selling their current homes and moving up have decided to wait. They figure they will have a hard time selling their home or they won't get the price they want. November of 2008 we statistically moved into a buyers market with a 6.5 months inventory of homes. It does appear December may have improved some over November and January is holding it's own and doing fairly well.
All said, Wichita is still a good market. The economy is well with some layoffs, but overall, 2009 should be a decent year. Probably on the sales level of 2004.