There’s a subtle but encouraging shift happening in today’s housing market: more listings are becoming available—and with them, new opportunities.
Homeowners who have been holding onto historically low mortgage rates are beginning to put their homes on the market. As a result, inventory is starting to rise in communities across the country. For both buyers and businesses, more inventory means more movement—and more possibility.
According to Realtor.com, April saw 20 of the 50 largest U.S. metro areas reach housing inventory levels above pre-pandemic norms. That’s up from 18 metros in March, signaling a gradual but promising trend toward a more active market.
Still, the so-called “lock-in effect” isn’t going away. A significant portion of homeowners are sitting on ultra-low mortgage rates—more than 62% of U.S. mortgages are locked in below 4%. In Wyoming, that figure climbs even higher to 65%.
Wyoming Mortgage Rate Breakdown:
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65% of mortgages are under 4%
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14% fall between 4%–5%
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8% fall between 5%–6%
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12% are above 6%
While mortgage rates aren’t expected to drop significantly this year, home prices continue to climb. According to a recent Redfin report, homebuyers now need to earn over $50,000 more annually than renters just to cover the monthly cost of homeownership.
WY It Matters: A healthier housing market fuels everything from construction and lending to retail and real estate services. As more homes hit the market, more families plant roots—and more businesses grow.
Your Wyoming Chamber is advocating for smart, sustainable housing policies, because we know housing is more than a market—it’s the foundation of a strong, connected, and prosperous community.
