Market Update in Alaska

Posted

It was an interesting start to 2019! What can we conclude from the first couple months in Anchorage and surrounding areas real estate data? It’s a seller’s market right now!

This past January, we saw a decrease in homes on the market, compared to January 2018 – 10% less to be exact. However, even though there was a lower amount of inventory listed, we still had the same amount of buyers looking for a home. In fact, we had the same amount of pending homes this year as we did January 2018, with fewer homes on the market! This means that NOW is a huge opportunity for sellers! Now is the time to get your house up on the market because there still is a great demand from buyers even with fewer homes listed. While your home still should be in the most pristine and tip-top condition, you have a little leg up on the market right now.

What does this mean for buyers? It’s time to put your best foot forward! There are lots of buyers in our market right now but not enough houses. In order for us to help you ensure you get the home of your dreams and beat out the competition, we encourage you to immediately get to the bank to get pre-approved for a mortgage. This is a huge advantage and leg up you can have on your competition. Having a letter ready to show the sellers and putting an offer in right away is how we are going to help you get the house that you love!

We were able to hear from Neil Fried, Alaska State Economist, who gave us a great and positive insight to the economic forecast in our state of Alaska. The year 2019 is looking good and we are finally out of a recession that we were stuck in for the past couple years. Job gains are finally outweighing job loss, which creates a great impact on consumer confidence. There is a lot of great outlook and hope with our state government that we know will positively impact the real estate world. Can’t wait to see what 2019 will bring!