Real estate markets across the nation have been easing over the last several months in accordance with rising interest rates, fears of inflation, and what many buyers consider inflated prices.

Reports one expert, "Buyers are pickier and with interest rates possibly hitting 7 percent by the end of the year, they are definitely cautious."

Cheyenne, Wyoming, is seeing prices fall as the market maintains a buyers favor.

With nearly a thousand homes on the market, days on market is near 6 months -- considerably lower than many other markets the size of Cheyenne.

Could this all change with the recent halt to rising interest rates?

National Association of Realtors president Thomas M. Stevens, noted about the halt, "This move sends a very positive signal to the housing sector, which has been so robust over the past five years that it has sustained the economy while other sectors have lagged. Largely as a direct result of more than two years of interest rate hikes, the housing market today is fragile in some parts of the country. The Fed's decision indicates that it realizes the vital role housing plays in the economy."

NAR continues that the Fed's decision indicates it realizes the economy has slowed, especially the housing economy. "We can't continue to raise rates without expecting the housing economy to suffer. That translates into higher costs for home buyers, slower sales and a lower level of economic activity in housing, which accounts for one-fourth to one-fifth of the gross domestic product."

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