Covid-19 hit the real estate industry hard everywhere, and Alaska was no exception as well. However, like most of the other markets, the Alaska real estate is also seeing rapid growth in its business as well. Many homeowners or home buyers in Alaska did not struggle to pay their mortgages as compared to the other states during Covid time. This is why home sales never stopped for the Alaskans.
The Alaskan Market Never Experienced a Dry Out Period
Even when the rest of the world was affected by the lockdown restrictions and when a lot of businesses had to face a lot of issues, the Alaskan real estate market stood tall. This is because the federal government helped the Alaskan businesses by sending them money so that they would not suffer.
The Alaskan Foreclosure Rate is The Best in The US
It is a huge myth that the Alaskan real estate market is quite dull. The reality is the opposite. Between the years 2019, 2020, the foreclosure rate in Alaska improved from 0.63% to 0.45%. The foreclosure rate again saw some strain his year, but this is because a lot of people are still trying to set up their businesses. However, Alaska is likely to overcome this issue by next year.
The real estate market in Alaska is on a rise. A lot of people are buying properties.
Here is a list of those places which prove that all the myths surrounding the Alaskan real estate market are entirely false.
Many suburban areas surrounding the major Alaskan cities are seeing a rise in housing demands. Eagle River is one of those cities. Situated at a 30 minutes drive away from Anchorage, this place has seen a huge increase in land appreciation over the last few years.
Homer is one of the most famous cities in Alaska, and a beautiful one as well. It is home to various mountains and glaciers that end up meeting the river at the base. A lot of people who run their businesses prefer living in Homer. Especially those who have got anything to do with fishing see a successful career in that place.
Anchorage is the most popular city in Alaska and the real estate heaven as well. This city has a lot of job opportunities and the property value is extremely affordable. There are some amazing neighborhoods in Anchorage that are great for living.