Anyone who has attempted to sell his or her home in the past year may have noticed the stagnation in the housing market. Members of the Sheridan County Chamber of Commerce were given a snapshot of the current real estate market at the Chamber’s monthly luncheon. Sheridan County had seen a continuous appreciation in real estate from 1994 until 2007. Carroll Realty Owner Dixie See says the market is down and there are more properties on the market in Sheridan now than she has ever seen during her career.
Fletcher Construction President Eric Bouley says costs for new construction have not changed despite the dwindling demand for those homes.
Applications for building permits in the City of Sheridan have slowed tremendously and it’s still to soon to see if the recently lowered City fees will have any effect on permit applications.
Lenders are still offering programs to help first time homebuyers and there are some loans available that will finance 100% of the home’s value.