Here is an updated snapshot of the Cheyenne market as of today. The trend continues with lower inventory, pending sales have once again begun to climb. Below are the numbers of homes in a spreadsheet for comparison.
| ACTIVE | PENDING | New Const | New Construction Pendings | New Construction Active+Pending | New Construction Pending Ratio | Active+Pending | |||
| CITY RESIDENTIAL | 66 | 190 | 20 | 40 | 60 | 66.7% | 256 | ||
| RURAL RESIDENTIAL | 35 | 99 | 11 | 56 | 67 | 83.6% | 134 | ||
| CONDO | 0 | 2 | 0 | 0 | 0 | 0.0% | 2 | ||
| TOWNHOUSE-END UNIT | 5 | 28 | 3 | 16 | 19 | 84.2% | 33 | ||
| TOWNHOUSE-INTERIOR UNIT | 2 | 4 | 1 | 0 | 1 | 0.0% | 6 | ||
| Total | 108 | 323 | 35 | 112 | 147 | 76.2% | 431 | ||
The march of new construction continues as well as the expansion and development of new sub-divisions. I don't see the demand for housing slowing down this year and may keep pace as the interest rates have increased for a conventional 30 loan to around 4.0%. Buyers will be anxious to try and secure the lowest rates possible and long term rate locks for new construction are available. There is no time like the present to begin looking for your home because prices and rates will go up. You are welcome to call for the facts in selling or buying and chat about the market. Thank you.
Tom Jacobson
Value For Life!