State Real Estate Market Outlook
Realty Market Outlook Wyoming State Profile - Spring 2006
Rising interest rates may pressure housing markets
The mix of job growth and affordable housing in Wyoming attracted new residents, but the issuance of 1–4 family housing permits may have plateaued. Permitting trends varied around the state. Laramie, Gillette, Casper, and Rock Springs reported year-over-year increases in permit issuance, while Cheyenne and Sheridan reported declines.
Year-over-year home price gains remained near historical highs and matched the national rate of 13 percent. However, rising interest rates could weigh on Wyoming’s housing market going forward.
Innovative mortgages and investors may be influencing housing demand.2 Interest-only and negative amortization loans accounted for 26 percent of non-prime mortgage originations in Wyoming during the first 11 months of 2005. During the same period, investors and second-home purchasers accounted for 27 percent of Wyoming Alt-A mortgage originations.
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