The risk of a decline in home prices in Anchorage is 2.1%, down from 3.1% earlier last year, according to a study by the nation's leading mortgage insurance carrier, PMI. Contributing to the favorable index is a low level of price volatility compared to many markets Outside.
Mortgage insurance carriers issue insurance polices, paid for by borrowers, that offset a lender's losses when a property forecloses. Risk-based analysis is how they determine insurability in different markets.
The headline of the report, of course, is the substantial declines now happening in other markets. It isn't over in those areas that experienced unsustainable appreciation earlier in this decade, the report concludes.
Affordability in Anchorage improved somewhat in the fourth quarter of last year, based on the report's proprietary index. However, the index finds that home affordability is now slightly less than the baseline year 1995.
The full report is on-line at this link. Anchorage numbers appear in the report summary at this link.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
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3 comments:
Sounds like your market is doing better than the real estate market in Bend Oregon.
I often wonder what the housing situation looks like in northern areas such as Alaska. Are people going to be selling and buying like hot cakes? Being a Toronto real estate agent myself, I don't suppose the market's gonna be all beers and skittles, but I set out my stall to determine what people desire at this particular time. Does the woman on the street think of moving up north, or would she rather go further down south? Let me know your thoughts.
Yours,
Elli
ביטוח משכנתא הוא חלק בלתי נפרד מהמשכנתא וכולל שני חלקים - ביטוח חיים וביטוח נכס
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