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        <description>Precision Home Groups Blog</description>
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    <guid>https://www.precisionhomegroup.com/blog/august-2025-market-insights-for-anchorage--beyond.html</guid>
    <link>https://www.precisionhomegroup.com/blog/august-2025-market-insights-for-anchorage--beyond.html</link>
        <author>Matthew@precisionhomegroup.com (Matthew Lindsay)</author>
        <title>August 2025 Market Insights for Anchorage &amp; Beyond</title>
    <description> <![CDATA[ 
August 2025 Market Insights for Anchorage &amp; Beyond






Anchorage Market Report - August 2025


Alaska, as a whole, has a seasonal market that shifts from summer to winter, with many more transactions occurring in the summer months than in the winter. We still see sales take place, just fewer sellers and buyers transacting during the winter. That hasn't changed over the years, but whether it's a buyer's or seller's market does change in response to the economy.


As of August 2025, the market is in transition. Inventory is slowly growing while prices are modestly expanding. However, the sales volume is nearly identical between August 2024 and August 2025.





Where Homes Are Selling Fast vs. Slow: Considering Days on Market (DoM), which is an excellent indicator of market health, our core markets are holding strong and consistent across South Anchorage through midtown. Meanwhile, outside Anchorage proper, there has been an increase in Days on Market. Chugiak/Peters Creek saw DOM triple year-over-year (8 to 24 days). At the same time, Girdwood and Turnagain Arm remain at a low 4-day average.


What’s Driving Prices in 2025 - Homes between $300,000 and $500,000 continue to dominate the market and the bulk of the sales. This year, Luxury sales were fewer, especially those in the $1 million+ range; however, the luxury homes that did sell in 2025 sold slightly faster than they did last year.





How Buyers Are Financing - We are starting to see changes in financing, which indicate the overall financial abilities of buyers. We are seeing a drop in conventional loans and an increase in FHA and VA loans, allowing buyers to utilize lower down payment options. Cash deals remained steady; however, creative financing nearly doubled, with seller financing being the top choice.


Inventory Changes - The single-family market remains healthy, with an 8 increase in sales year-over-year; however, appreciation is slowing, particularly at the upper end of the market. Condos are starting to rebound as buyers have taken advantage of these options for affordability reasons. Multifamily demand remains very high, as buyers continue to move quickly, especially for properties priced well and in excellent condition.


Outlook for Anchorage &amp; Southcentral Alaska






Inventory is normalizing — buyers now have more options than at any point in recent years.






Prices remain resilient — slowing yet steady appreciation despite longer market times.






Condos and multifamily will drive growth — affordability and rental demand are fueling momentum.






Luxury softening — fewer million-dollar closings, though correctly priced listings are moving faster.






Buyer leverage is increasing — longer DOM and expanded supply create negotiation opportunities.






What’s Ahead for Anchorage:


Expect steady but moderate appreciation through the end of 2025, with condos and multifamily continuing to outperform. Single-family homes are expected to remain stable, but luxury and outlying markets may experience longer selling times.


 


Final Word


Anchorage and Southcentral Alaska are transitioning into a more balanced market. Sellers must be strategic in pricing, while buyers gain leverage with more choices. Investors are doubling down on multifamily, and first-time buyers are finding more opportunities through VA and FHA programs.


The fundamentals remain strong, and for both buyers and sellers, this is a market where preparation and strategy matter more than ever.


Thinking about buying, selling, or investing this fall? Contact us today for a customized market analysis tailored to your home or investment goals.


 
 ]]> </description>
    <pubDate>Thu, 04 Sep 2025 19:04:00 -0800</pubDate>
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    <guid>https://www.precisionhomegroup.com/blog/steady-and-strategic-anchorage-market-snapshot.html</guid>
    <link>https://www.precisionhomegroup.com/blog/steady-and-strategic-anchorage-market-snapshot.html</link>
        <author>Matthew@precisionhomegroup.com (Matthew Lindsay)</author>
        <title>Steady and Strategic: Anchorage Market Snapshot</title>
    <description> <![CDATA[ 
Steady and Strategic: Anchorage Market Snapshot





Anchorage Market Update – July 2025


Anchorage’s real estate market continues to defy national headlines. While major markets across the U.S. report rising inventory, slowed sales, and pricing pullbacks, our local market is showing resilience, measured growth, and tight supply. Despite higher rates and buyer hesitation elsewhere, Anchorage is quietly advancing, stable, active, and outperforming many national trends.


July data shows median residential sale prices in Anchorage reached $402,500, up from $383,000 last year, a healthy 5.1 percent increase year over year. The total number of sold listings climbed to 1,629 for the year to date, a 2.8 percent rise from the same period in 2024. Sales volume crossed $728 million, representing an impressive 7.8 percent growth. Median list-to-sale price ratios remain just under 100 percent, and the average home is going under contract in only 16 to 18 days.


Anchorage Market Snapshot: July 2024 vs. July 2025



















Anchorage residential market trends remain strong year-over-year, with steady gains in median price and volume.














 






This stands in contrast to national insights shared by experts like Ryan Serhant, who noted that U.S. inventory is at its highest point since 2019 and that sellers are increasingly needing to offer concessions to get deals done. While that trend is creeping into Anchorage, it’s happening slowly. Here, buyers are still acting quickly on well-priced homes, and we are not seeing the 30- to 60-day Days on Market (DOM) averages that have become common in other metros.


In fact, for July, Anchorage posted 420 active residential listings and 144 condos. Homes that are priced right continue to move swiftly, often in less than three weeks, and multiple-offer scenarios are still occurring in Southside, Abbott, and select East Anchorage zones. Properties that miss the mark on pricing or presentation, however, are increasingly experiencing longer days on the market. Several submarkets are now showing listings sitting 40 to 60 days or longer when overpriced.


To illustrate this trend, here’s a breakdown of how Anchorage’s key housing metrics compare to last year:





Despite national reporting of a market “cooldown,” Anchorage is still very much a seller’s market, but it’s a disciplined one. Overpricing leads to stagnation. Data from July confirms these findings with 51 withdrawn or cancelled listings and a growing number of homes returning to market after failed contracts, a signal that buyer scrutiny is rising.


For buyers, this market offers pockets of opportunity. Longer-sitting inventory is more negotiable, especially for VA-approved buyers and strong conventional borrowers. Anchorage condo inventory is also worth watching, with an average active DOM of 61 days and rising, which could allow room for discounted acquisitions or terms flexibility.


Nationally, firms like Compass reported transaction growth and market share gains in Q2, while economist Matthew Gardner expects only one interest rate cut before year-end due to lingering economic uncertainty. These national insights matter, but Anchorage continues to operate with its own tempo. Our lack of large-scale development, combined with healthy demand and a strong jobs base, means that pricing is holding steady, and momentum remains intact for sellers heading into the fall.


Looking ahead, the Anchorage market is positioned to remain strong through September and October. Seasonally, this is the final window for sellers to capitalize before the winter slowdown. For buyers, patience and leverage will go further on listings with more than 30 days of market time. For sellers, now is the time to price sharply, stage correctly, and list before snow flies. Pricing too high or waiting too long could result in sitting in Q1 with reduced momentum.


This is not a volatile or panicked market. It is a precise one. Anchorage is moving, just not blindly. Those who act strategically in this market, whether buying or selling, will continue to win.


If you’d like to discuss how these shifts impact your property’s value or explore opportunities in today’s market, reach out. As always, I’m here to help you make the most informed, strategic decisions possible in a fast-moving environment.

 ]]> </description>
    <pubDate>Fri, 01 Aug 2025 06:56:00 -0800</pubDate>
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    <guid>https://www.precisionhomegroup.com/blog/weve-been-featured.html</guid>
    <link>https://www.precisionhomegroup.com/blog/weve-been-featured.html</link>
        <author>Matthew@precisionhomegroup.com (Matthew Lindsay)</author>
        <title>We’ve Been Featured</title>
    <description> <![CDATA[ 



We’ve Been Featured


 


We are honored to share that Matt was the cover story of Alaska Real Producers this month It’s been a whirlwind year of growth, determination, and perseverance, and it’s our passion for helping others that fuels us to keep thriving.


This issue dives into Matthew’s inspiring journey—from adrenaline-filled pursuits to a thriving real estate career—highlighting how he’s transformed challenges into opportunities. His story shares insights on finding success in even the most unpredictable circumstances.


Read  the story in full HERE.





And that’s not all—we’ve also been named Best of Alaska for the third time We’re beyond grateful for the support and encouragement of our community. Thank you for being part of our journey


 


Message from Matt


In the last couple of years, I have seen some massive changes in my professional and personal life. I dissolved my business partnership as an independent real estate brokerage, moved offices from Downtown to the Southside, rebuilt the real estate team, purchased a gym, lost Alecia when she passed this last February, and have dealt with some very difficult challenges stemming from all of this. 


However, I have also been truly blessed I have an amazing team of agents and  employees at my gym and the real estate team. I have been named Best of Alaska by ADN and a Top Producer by Real Producers magazine. Although it's been a crazy year with interest rates and an unpredictable market, we have still grown and held consistent production throughout. I have been able to give back to the community in several ways and have seen some amazing growth in both of our companies. 


If it weren't for the amazing support of all of our clients, family, community, and colleagues, I don't think I would be where I am today. You all continually believe in me and support the Precision brand, and it means the world to me Thank you for the support and love, and I can't wait to see where we go next and how big we can grow this.  One thing I know for sure: I wouldn't be where I am today with all of you 


 


I hope you all have an incredible Thanksgiving, Christmas, and New Year and can't wait to grow with you all this next year


 
 ]]> </description>
    <pubDate>Mon, 11 Nov 2024 10:32:00 -0900</pubDate>
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    <guid>https://www.precisionhomegroup.com/blog/real-estate-election-year-impacts-and-market-shifts.html</guid>
    <link>https://www.precisionhomegroup.com/blog/real-estate-election-year-impacts-and-market-shifts.html</link>
        <author>Matthew@precisionhomegroup.com (Matthew Lindsay)</author>
        <title>Real Estate, Election Year Impacts, and Market Shifts</title>
    <description> <![CDATA[ 



Election year madness, real estate industry regulation changes, interest rate fluctuations, and capital market volatility have a lot of people wondering how to best position themselves for the second half of 2024. Times are interesting, to say the least, but the more informed you are, the better you can understand how to respond and execute.


 


Election years, especially this one, have become more and more chaotic as the media gets more involved. People have greater access to information, and social media has provided people with more of a platform to promote their ideas. The reality is that elections have become more noisy and influential in people's decision-making. Historically, the markets haven't had much of an impact from election year cycles; they have actually continued to climb for the most part. Yes, policy does affect that, but the election year itself hasn't been a big factor. We are starting to see that change slightly over the last couple of cycles as they have become more and more divisive. Fidelity Investments, a major financial management firm, has recently conducted a major study on this, which can be found HERE.





The real estate industry has also gone through a lot of changes, with several class action lawsuits over the past year. Most of those stemmed from commission disclosure issues, largely around buyer agents commissions, arguing that commissions inflated costs and that they were not negotiable. There was never a fixed price for commission, and different agencies offer different structures as all agents are independent contractors. However, the disclosure practices have been the biggest formal change we have seen from this. 


 


Starting on August 17th, there will be new disclosure documentation for sellers looking to list their home. Specifically, how the commission is paid out, how much that will be, and for which party. Buyer agents will now be required to have a formal representation agreement with all buyers before showing a home. That representation agreement will specify how the buyer's agent will be compensated and if the buyer will be paying all of their commission, part of it, or none of it.


 


All in all, we believe that the requirement for further transparency is a move in the right direction. Precision Home Group has always taken pride in overdelivering on service and communication throughout the sales process. Change can be good and challenge the status quo, and with the new disclosure regulations in place, all parties should have a better understanding of the process. 


 


Interest rates and the capital markets have seen a ton of recent fluctuations. We have seen some big dips in the stock market and reductions in mortgage rates. This is starting to peak buyer interest, especially with the recent announcement of a September Fed rate cut, which will further lower mortgage rates and make homes more affordable. With stocks taking a hit, I have personally seen some of our investors re-engage in commercial real estate investments and multifamily properties.


 ]]> </description>
    <pubDate>Fri, 23 Aug 2024 10:48:00 -0800</pubDate>
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    <guid>https://www.precisionhomegroup.com/blog/understanding-current-market-conditions.html</guid>
    <link>https://www.precisionhomegroup.com/blog/understanding-current-market-conditions.html</link>
        <author>Matthew@precisionhomegroup.com (Matthew Lindsay)</author>
        <title>Understanding Current Market Conditions</title>
    <description> <![CDATA[ 
Understanding Current Market Conditions





Spring finally decided to show up It's been a long winter here in Southcentral Alaska, and these longer days, sun, and greenery are a much welcomed reprieve. We are in a very unique market right now with low inventory, higher prices, multiple offer scenarios, and a lot of people cautiously entering the market or waiting to see if market conditions change.


 


Alaska has always ebbed and flowed with the real estate market, following our seasonal changes. We typically see an influx of listings and a higher number of transactions come spring and summer, and this year is no different. We are seeing those increased numbers on the same annual cycle, but year over year, we have been seeing a decline in the number of available homes. We just aren't seeing as many available homes on the market as we typically do, and our inventory has been steadily dropping since 2018. In April 2023, we had 211 available homes on the market in Anchorage; in April 2024, we only had 203 homes. Currently, we have dipped even further and are not seeing many signs of a steady increase. 





We know that the number of available homes has decreased year over year, but how has that affected our number of sales? Well, in April 2022, we saw 281 sales; in April 2023, we saw a decrease of 54, down to 128 sales. Then this year, we saw a 10 increase to 141 sales. 


 


That's a lot of data, but what does it mean? In 2023, we started to see interest rates climb, and people were waiting to see if those would drop. Unfortunately, they are here to stay, and people still need to buy, so as people accept this new norm, we are starting to see sales steadily increase again. However, with the current shortage of inventory that we explained above, our pricing is starting to climb as well, which we will discuss next.





As we know, supply and demand have always been the two greatest indicators of pricing. Above, we have shown that inventory (supply) has been decreasing year by year. Additionally, we can see that sales and the number of transactions (demand) are increasing, thus driving prices higher. Yes, inflation, appreciation, and other factors are at play, but at a basic level, we have a shortage of homes, and that is creating our pricing increases. In fact, as you can see by the graph below, pricing is continuing to climb. In Anchorage, only looking at residential homes, our average sale price is continuing to climb. In April 2023, our average price was $456,000, and in April of this year, it had grown drastically to $528,000. 





Rates are here to stay for a while, and with an election year, there is still a bit of uncertainty in the market. What we do know is that if rates drop, prices are going to climb again. If you are looking to buy or sell in this market, there are many strategies we can implement to ensure you are well prepared. Reach out to me or my team, and let's make sure to get the best plan in place for your goals.
 ]]> </description>
    <pubDate>Mon, 27 May 2024 14:17:00 -0800</pubDate>
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    <guid>https://www.precisionhomegroup.com/blog/anchorage-real-estate-navigating-market-trends-and-emerging-opportunities.html</guid>
    <link>https://www.precisionhomegroup.com/blog/anchorage-real-estate-navigating-market-trends-and-emerging-opportunities.html</link>
        <author>Matthew@precisionhomegroup.com (Matthew Lindsay)</author>
        <title>Anchorage Real Estate: Navigating Market Trends and Emerging Opportunities</title>
    <description> <![CDATA[ 
anchorage real estate





NAVIGATING MARKET TRENDS AND EMERGING OPPORTUNTIES



The residential market as a whole has been dealing with low inventory and still higher interest rates. Currently, in Anchorage, we have 20 less active inventory on the market, moreover, we have seen 43 fewer sales year to date than last year. For new homes that hit the market that are updated, in good condition, priced correctly, and marketed well, we are getting back into the multiple offer scenarios. Because of the lack of inventory, sellers aren't paying much in concessions. We are also starting to see many off-market deals, with buyers hoping to find something without having to compete.


 


Interest rates are also affecting the industry as well. The time of the 2–4 rates is long gone, and we don't expect that to come back anytime soon. We have been floating between 6 to 8 for the past several months. The Fed has been committed to reducing rates incrementally throughout this year, with the first being this March. However, they postponed that first cut due to the national inflation numbers and decided to push that off to quarter two.


 


Many buyers have been waiting for a year or two to buy, with the current rates being a stark contrast to the low rates we saw a couple of years ago. Although rates are much higher, our appreciation for properties has also been increasing, and we haven't seen the price freeze many thought would happen. Many buyers are getting back into the market knowing that they can refinance in the future when rates drop again, but they are taking advantage of today's prices as our local appreciation of home values continues to climb.


 


New developments are picking up steam across Anchorage, with a large investment in downtown Anchorage. The brand new Key Bank building in downtown, across the street from the Performing Arts Center, is just about complete. This redevelopment redefines our downtown skyline with state-of-the-art upgrades, a brand new facade, and room for both retail and office space. The office space has already been locked up by a large oil company, and the building should be fully occupied soon. In addition to that project, the downtown revitalization project is investing $70 million in the old Aviator Hotel. That project will include 250 hotel rooms, a brewery, a market, and condos. There are several other notable projects, but the $200 Million investment into the Block 49 project, which includes the old downtown theater site and converting that into a hotel, shopping, parking, and residential units, is one that we are most excited about. (see references below)


 


Anchorage has seen a lot of changes over the past several years, but I firmly believe that our best years are ahead of us. Whether you are looking to buy, sell, or conduct an exchange, there are always great opportunities to be found. With a specialty in luxury real estate and investment sales, we’d love to serve you.


Reference(s):Crook, L. “Perkins &amp; Will redesigns earthquake-damaged Alaska office to evoke glacier.”, Dezeen, 03 Feb. 2021Scott, R. (2023 Dec 11) “Redeveloping Properties in Downtown Anchorage to Uplift the Neighborhood.”, Alaska Business, 11 Dec. 2023Alaska Business (2022 May 18) Block 41 “Redevelopment to Mix Old and New Façades”




CALL TO ACTION BUTTON



  



Ready to Make a Move?


Precision Real Estate is based in Anchorage, and provides real estate services throughout Alaska. We will keep you informed on current trends and market dynamics to help you make the best informed decision. If you are interested in purchasing a home, get in touch with our experienced real estate agents Our team of experts will negotiate great deals for your home and help you navigate the buying or selling process every step of the way. If you are looking to get into a property that makes sense, or need help analyzing a potential property, click the link below to get started.


GET STARTED















  ]]> </description>
    <pubDate>Tue, 26 Mar 2024 18:52:00 -0800</pubDate>
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    <guid>https://www.precisionhomegroup.com/blog/alaska-real-estate-insights-navigating-opportunities-in-2024.html</guid>
    <link>https://www.precisionhomegroup.com/blog/alaska-real-estate-insights-navigating-opportunities-in-2024.html</link>
        <author>Matthew@precisionhomegroup.com (Matthew Lindsay)</author>
        <title>Alaska Real Estate Insights: Navigating Opportunities in 2024</title>
    <description> <![CDATA[ 
ALASKA REAL ESTATE INSIGHTSNavigating Opportunities in 2024


2024 is set to be a much better real estate year in comparison to our recent past. The market has been complexly changing since pre-covid, and we are starting to see it recover. We are very optimistic that our current trend of rate reductions, slowing inflation, and increasing inventory will assist our local market in a positive way.


 


Alaska measures our economy by many factors, but one of the many important indicators is the tourism industry, which brings much-needed revenue to the state and local economies. 2023 saw cruise ship passengers pass the 1.5 million mark, which is higher than pre-COVID numbers and a stark difference from 2021 and 2022. These passengers spend money all over Alaska and support many primary and secondary industries. In addition to our tourism numbers, our unemployment rate is down to 4.5, and wages are up 6.5 over the previous year. (For more information, read the latest report on Alaska Trends here and the most recent AEDC report here.)


 


Specifically in real estate, one of the major issues we have faced is low inventory across all asset classes. Low inventory led to higher prices, even in the face of higher interest rates. Thankfully, we have started to see the number of homes on the market increase. In January 2023, we saw 212 residential listings on the market, while last month we saw that increase to 256. These numbers show that there is a growing amount of inventory hitting the market, which is great news for buyers. There is still quite a deferred demand, though, so that new inventory is getting absorbed quite quickly, especially for homes that are priced well, have a great location, and have been updated.





 


Although the Federal Reserve chose not to make another rate cut this coming March, their plan to still reduce rates over 2024 is still in effect. Currently, we are still a couple points lower than we were this time last year, and that has successfully sparked interest back in the market. It also made properties more affordable, and people's money went further.


 


What does all of this mean? More real estate transactions are expected this year than last, and as rates drop and the market recovers, we should see increased activity across all asset classes. 


 


Whether you are looking to buy, sell, or conduct an exchange, there are always great opportunities to be found. With a specialty in luxury real estate and investment sales, we’d love to serve you. If there is anything that my team or I can do for you, please don't hesitate to reach out


WE JUST STARTED OUR CLOSED COMMERCIAL SERIES
 ]]> </description>
    <pubDate>Wed, 14 Feb 2024 10:57:00 -0900</pubDate>
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    <guid>https://www.precisionhomegroup.com/blog/january-luxury-market-update.html</guid>
    <link>https://www.precisionhomegroup.com/blog/january-luxury-market-update.html</link>
        <author>Matthew@precisionhomegroup.com (Matthew Lindsay)</author>
        <title>January Luxury Market Update</title>
    <description> <![CDATA[ 



January Luxury Market Update



Currently, there is a lot of mystery about what's going on in the market. People see crazy headlines and are getting concerned and rightfully so. However, we expected this as we all saw the signs as the rates started to climb as the feds tried to slow the rate of inflation. Across Alaska and the nation, we are still seeing the same low supply we have been experiencing all year. Nationally our housing inventory is down about 20 from 2022 and in Alaska that number is closer to 35. That low inventory, mixed with the same demand, has steadily increased prices and kept a competitive market even with our current interest rates.


 


Employment in Anchorage has been steadily growing, in the most recent Employment Study, Anchorage is up 1,400 jobs. Post COVID, the health sector has significantly grown as it saw the highest number of jobs since early 2020. Jobs within the food Services sector have also grown substantially and this last August we saw the highest number of jobs ever in this sector.. Lastly, the big winner is construction with as many as 9,000 jobs being posted. These stats were pulled from the latest AEDC jobs report.


 


Interest rates continue to adjust with the market but are currently staying between 6 to 7.5, depending on the borrower. We have seen some slight increases recently from rates earlier this year however, we are also getting positive reports of inflation starting to slowly decline. If that holds, the Fed may hold off on future rate hikes which will contribute to a slow decline in mortgage rates. That would only increase demand for buyers and I believe that we will see sellers that are on the fence finally hit the market.


 


Alaska has always had a highly seasonal real estate market. Historically we see a steep increase in supply and demand come Spring time and throughout Summer. However, that's changing with our low inventory and sellers are getting great prices year-round now. There is always a way to put a deal together in any market, it is just a matter of understanding what's important, how to structure it, and having a professional who can navigate the ins and outs.


 


Whether you are looking to buy, sell, or conduct an exchange, there are still some great opportunities to be found. With a specialty in luxury real estate and investment sales, we’d love to serve you. If there is anything that my team or I can do for you, please don't hesitate to reach out
 ]]> </description>
    <pubDate>Wed, 24 Jan 2024 12:51:00 -0900</pubDate>
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    <guid>https://www.precisionhomegroup.com/blog/happy-holidays.html</guid>
    <link>https://www.precisionhomegroup.com/blog/happy-holidays.html</link>
        <author>Matthew@precisionhomegroup.com (Matthew Lindsay)</author>
        <title>Happy Holidays ❄</title>
    <description> <![CDATA[ 



Happy Holidays ❄



Currently, there is a lot of mystery about what's going on in the market. People see crazy headlines and are getting concerned and rightfully so. However, we expected this as we all saw the signs as the rates started to climb as the feds tried to slow the rate of inflation. Across Alaska and the nation, we are still seeing the same low supply we have been experiencing all year. Nationally our housing inventory is down about 20 from 2022 and in Alaska that number is closer to 35. That low inventory, mixed with the same demand, has steadily increased prices and kept a competitive market even with our current interest rates.


 


Employment in Anchorage has been steadily growing, in the most recent Employment Study, Anchorage is up 1,400 jobs. Post COVID, the health sector has significantly grown as it saw the highest number of jobs since early 2020. Jobs within the food Services sector have also grown substantially and this last August we saw the highest number of jobs ever in this sector.. Lastly, the big winner is construction with as many as 9,000 jobs being posted. These stats were pulled from the latest AEDC jobs report.


 


Interest rates continue to adjust with the market but are currently staying between 6 to 7.5, depending on the borrower. We have seen some slight increases recently from rates earlier this year however, we are also getting positive reports of inflation starting to slowly decline. If that holds, the Fed may hold off on future rate hikes which will contribute to a slow decline in mortgage rates. That would only increase demand for buyers and I believe that we will see sellers that are on the fence finally hit the market.


 


Alaska has always had a highly seasonal real estate market. Historically we see a steep increase in supply and demand come Spring time and throughout Summer. However, that's changing with our low inventory and sellers are getting great prices year-round now. There is always a way to put a deal together in any market, it is just a matter of understanding what's important, how to structure it, and having a professional who can navigate the ins and outs.


 


Whether you are looking to buy, sell, or conduct an exchange, there are still some great opportunities to be found. With a specialty in luxury real estate and investment sales, we’d love to serve you. If there is anything that my team or I can do for you, please don't hesitate to reach out

 ]]> </description>
    <pubDate>Wed, 13 Dec 2023 18:33:00 -0900</pubDate>
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    <guid>https://www.precisionhomegroup.com/blog/october-2023-market-update.html</guid>
    <link>https://www.precisionhomegroup.com/blog/october-2023-market-update.html</link>
        <author>Matthew@precisionhomegroup.com (Matthew Lindsay)</author>
        <title>October 2023 Market Update</title>
    <description> <![CDATA[ 



October 2023 Market Update



Currently, there is a lot of mystery about what's going on in the market. People see crazy headlines and are getting concerned and rightfully so. However, we expected this as we all saw the signs as the rates started to climb as the feds tried to slow the rate of inflation. Across Alaska and the nation, we are still seeing the same low supply we have been experiencing all year. Nationally our housing inventory is down about 20 from 2022 and in Alaska that number is closer to 35. That low inventory, mixed with the same demand, has steadily increased prices and kept a competitive market even with our current interest rates.


 


Employment in Anchorage has been steadily growing, in the most recent Employment Study, Anchorage is up 1,400 jobs. Post COVID, the health sector has significantly grown as it saw the highest number of jobs since early 2020. Jobs within the food Services sector have also grown substantially and this last August we saw the highest number of jobs ever in this sector.. Lastly, the big winner is construction with as many as 9,000 jobs being posted. These stats were pulled from the latest AEDC jobs report.


 


 Interest rates continue to adjust with the market but are currently staying between 6 to 7.5, depending on the borrower. We have seen some slight increases recently from rates earlier this year however, we are also getting positive reports of inflation starting to slowly decline. If that holds, the Fed may hold off on future rate hikes which will contribute to a slow decline in mortgage rates. That would only increase demand for buyers and I believe that we will see sellers that are on the fence finally hit the market.


   


Alaska has always had a highly seasonal real estate market. Historically we see a steep increase in supply and demand come Spring time and throughout Summer. However, that's changing with our low inventory and sellers are getting great prices year-round now. There is always a way to put a deal together in any market, it is just a matter of understanding what's important, how to structure it, and having a professional who can navigate the ins and outs.


 


Whether you are looking to buy, sell, or conduct an exchange, there are still some great opportunities to be found. With a specialty in luxury real estate and investment sales, we’d love to serve you. If there is anything that my team or I can do for you, please don't hesitate to reach out


 
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