Alaska has increased its real estate market. The data shows that housing sales have been improving since last year.
News Miner says that as per Alaska Dispatch report for the second quarter this year, the housing numbers have been increasing.
The Alaska Association of Realtors said that the data is supported by the statistics gathered by the group. From April to June, it has been recorded that 824 homes are sold in Anchorage, Alaska. Homes sales have gone higher in Matanuska-Susitna Borough, reflecting 15% increased. In Fairbanks, data shows 23%.
Karinne Wiebold, a real state economist from Alaska, said that at this point it would be premature to gauge the health of real estate market. However, the drop of interest rate could be the driving factor for homebuyers to purchase new properties in Alaska.
National Mortgage Professional reports that the Alaskan residential market quite small as compared to other states in the U.S., but the home buying activity has been promising. Today, its average sale reflected an increase from $366,194; it has now reached $379,809. The notable increase is just within the span of 1 year. In addition, the average number of days that a property stays on the market had been unchanged. A home stays at least 40 days in the market before it gets sold to the new owner.
The Alaska Dispatch News quotes the statement of economist Wiebold, who is currently working at the Department of Labor. "The changes in sales volume do not look particularly remarkable. It will be much more relevant to see what happens with first half and full year data, as that is where a lot of the nuances get smoothed out and we can really see trends," she said a matter-of-factly.
Wiebold had pointed out that interest rates were like a roller coaster ride. It was very particularly low in 2012 and in early 2013. But it surged a bit higher in late 2013 and early 2014. Though the people assumed that the increase would go on, the rate went below 4% for the first quarter this year.
