There has never been a better time to purchase homes for sale in Cheyenne WY. The mortgage rates, low home prices and skyrocketing rents all contribute to an excellent buyer’s market. The shrinking of the shadow inventory adds to the decline in homes for sale in Cheyenne WY supply. Now is the best time to find the right home in a good location.
According to the Pulseconomic survey, home price increases started in 2013. Pulseconomic surveys “a distinguished panel of over 100 economists, investment strategists and housing market analysts regarding their 5-year expectations for future home prices in the United States.” The survey predicted that homes for sale in Cheyenne WY will increase over 10% by 2016.
Renting is becoming more costly than buying homes for sale in Cheyenne WY. Chief economist, Doug Duncan, of Fannie Mae stated in his report: “Conditions are coming together to encourage people to want to buy homes. Americans’ rental price expectations for the next year continue to rise, reaching their record high level for our survey this month. With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that home ownership is a more compelling housing choice.”
Federal Reserve Chairman Ben Bernanke kept interest rates low to help the economy to recover, but as the economy heals, this need will no longer exist. The current interest rates, at historic lows, provide a fantastic opportunity to buy homes for sale in Cheyenne WY.
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