Real estate

Home sales in the American West tumbled to a three-year low in December, as higher interest rates and rising home prices gave buyers pause, according to a new report from the National Association of Realtors.

Our region is home to some of the hottest housing markets in the country but that trend may slowing down. 

Cooper McKim/Wyoming Public Radio

Winds were gusting over 45 miles per hour on an overcast day at the Dunmire Ranch in southeastern Wyoming. Black cows grazed in the distance with wind turbines lined up on the horizon. At the center of ranch, young colts milled around the corral. Gator, a 14-year-old blind and deaf dog, barked, guarding the home of rancher Les Dunmire. 

 

Inside the house, Dunmire put on his dirt-caked cowboy hat and boots, as he told me how he’s owned this ranch for just over 30 years and that this lifestyle goes back generations.

 

Pioneer Cunningham Ranch Historic Cabin Wyoming
CC0 Public Domain

Organizations in the region are encouraging ranchers and farmers to think ahead about how to pass their land on to the next generation so the way of life doesn’t disappear. As property values outpace the potential revenue from agriculture, it’s harder for families to pass down their land or even sell it to another rancher. 

FLICKR

Wyoming is among the states with the highest proportion of people living in mobile homes, but they don’t have the same rights as other homeowners.

House Bill 56, which is now before the Senate, will fix an oversight in how mobile homes are titled.

Marion Orr

Many homes or apartments in Wyoming are contaminated by methamphetamine and if you move into one of those places, you may not know it. It can lead to health problems and be expensive to clean up. Wyoming is one of the few states that does not require disclosure of a meth-contaminated home.

Sheridan realtor Dan Casey remembers when he first got caught. Casey had a client who had bought a home during a foreclosure sale and after his client fixed the place up he tried to re-sell it. Casey said they were close to a deal when a neighbor stopped by. 

When there’s an energy boom, it usually brings an influx of workers into the area. And that leads to more demand for housing. That’s great for landlords who are looking to rent out their properties. But as some communities in Wyoming are finding, oil and gas drilling can actually be a problem for people who are looking to sell. Wyoming Public Radio’s Willow Belden reports.

WILLOW BELDEN: Rhonda Holdbrook owns a real estate firm in Douglas, and she’s exceptionally busy these days. Oil production in Converse County is booming, and energy workers have flocked to town.

The bi-annual report on Jackson Hole’s housing market has reassuring news for local property owners as the area continues to make its recovery from the national housing crisis. Sales are expected to increase, and the number of properties available for sale will continue to decrease.

The total housing inventory for Jackson Hole is down. Properties costing less than 1 million dollars make up almost half the available inventory, but Jackson’s inventory rate is less than half the national average.

The housing market in Jackson Hole is booming, and it’s getting even more expensive to live there.

Last week, the Jackson Town Council decided to buy an apartment building to house town employees, so they could afford to live in the area. That makes it 15 housing properties the town will own.