Anchorage Foreclosures Decline Drive Housing Prices Up
by Dan Wolf
on Monday, April 1st, 2013 at 11:38am.
Anchorage foreclosures are on the decline, and with them, the market for real estate in Anchorage has gone up. Houses are worth more money than ever, and this is great news for both the prospective buyer and the prospective seller. You are hearing this report from many other "lower 48" markets and Anchorage is certainly following suite.
According to The Alaska Journal of Commerce, the Dept of Labor reports a year-to-date sales volume increase of 8.3 percent for single-family units in the Anchorage area. The average price of a single-family home in Fairbanks rose 5.1 percent over the past year to $335,000.
With the drop in foreclosures, it's easier to sell your home and prices are firming up, and buyers are seeing better quality of homes on the market now that foreclosure fixer uppers are on the decline.
With a young family, it's easy to get tied up when buying a home. Puchasing your home in the Anchorage area means that you'll have an investment for years to come. The housing market here is only forecasted to improve, and this is good news if you decide to sell your home a few years down the line.
And the construction industry is booming, too. Anchorage is set to see 300 to 500 new homes in the next year. That means that the value of homes in the region is only going to rise with time, and with it, the market will continue to get better.
Look out Anchorage, here comes the housing market! There's never been a better time to buy Anchorage property.
Wolf Real Estate is one of the top real estate firms in the Anchorage area. contact us if you are thinking of buying or selling your Anchorage property.