2017 Crystal Ball Predictions
By Nathan Gesner, Broker / Property Manager
(American West Realty and Management)
What's on the horizon?In response to a challenge presented by Praful Thakkar I am going to share my predictions for the Cody Wyoming market in 2017.As many may already know, Wyoming's greatest source of revenue is the energy industry which took a major hit in 2015. We were locally impacted as field workers left to find work in other states. This continued in 2016 and we saw a lot of upper-priced homes come on the market as upper-income employees moved to survive. Many of them had just purchased a 1-2 years prior! This didn't destroy our market, but we definitely saw stagnation.As a property manager, the impact was more profound. Due to the nature of the oil field industry, many employees are shifted around the country, making it difficult for them to set roots. The good news is, that ke...