How the Housing Market in Casper Changes from Year to Year

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CASPER, Wyo. Despite Wyoming's boom and bust economy, Casper's real estate market remains constant.

"We haven't seen a lot of fluctuation. It's been quite steady. Last year was really steady. You always have seasonal upticks and downticks. Winter time, of course, is a little slower than the summertime. People can't build homes as fast or even build them at all." Said Mike Lockard, a Real Estate Leaders Associate Broker.

A large reason for the consistency is steady commodity prices.

For example, when one company chose not to frack a well, " 400 guys lost their jobs. Well, those 400 guys aren't going to be out shopping for a house or buying land." Said Matt Keating, the Natrona County Assessor-elect.

When housing prices fall so do property tax revenues forcing county commissioners to make tough decisions.

"You really need to prioritize. And statutorily the county commissioners basically they need to prioritize.

However, Casper is starting to diversify, including attracting retirees.

"Overall, it's a really good place to retire. Your retirement dollar goes a lot further in Wyoming than it does anywhere else." Said Lockard.

He said Casper's medical industry is also helping break the boom and bust cycle.

In both 2017 and 2018, the average cost of a Casper area single family home was $216,000.