2023 Midyear Market Update

 

Quarter 2 is now over and we are rushing into the second half of 2023. It's been an interesting summer so far here in Alaska with tons of rain and one of the cloudiest summers we have ever had. As Alaskans though, we are still getting out to adventure and making it work. That same Alaska Spirit is also being applied to our local housing market.


During covid we saw artificially held down low interest rates, rates none of us have seen in years. Immediately following we saw a steep increase as the markets corrected and now we have seen some market stabilization as we are sitting around the 5.5% to 7% depending on lender, loan type, and individual situation. This has caused two big things to happen. First, it…

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