WCDA Explains Casper’s Current Real Estate Market

CASPER, Wyo (Wyoming News Now) – Wyoming Community Development Authority officials say the housing market in Casper is on the rise. Homes for sale come on the market and don’t stay there for long.

Scott Hoversland, executive director of WCDA, said the pandemic was holding people home. “People work from home and they don’t travel, they can work from home, so their work doesn’t necessarily take them to another location,” Hoversland said.

Homes are moving fast from people moving to Casper from out of state, even as prices go up. “People from out of state looking to come here end up on Facetime with a friend who comes home for them. They make offers on the spot. This has never happened before, ”Hoversland said.

WCDA specializes in loans for first-time home buyers and so far this year has helped fewer people take out a loan, but lends more money.

“The first quarter of 2021, about $ 3 million more in mortgage purchases in the first three quarters than last year, so I think that’s just a sign of the times,” Hoversland said .

The fewer homes there are on the market, Hoversland said, the people who sell their homes will be able to get the value. Summer, their busy season is approaching and they expect to see more people eager to relocate.

“When kids are in school a lot of people don’t move, it’s usually after that during the summer months and before school starts again,” Hoversland said.

Copyright 2021 Wyoming News Now. All rights reserved.

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