Here's the residential weekly market activity for June 15th to 21st, 2019.In Anchorage, 578 currently active listings remained from 638 listings during the period. There are 60 new, 59 pended
Homes Still More Affordable For Today’s Buyers Than The Previous Generation
There's a lot of talk in the news about homes becoming more unaffordable, but the truth is, homes today are far more affordable for potential buyers than they were for the previous generation. According to a recent affordability report from Zillow, the share of income needed to cover monthly mortgage payments on the median home in the US is 17.1%—a solid 4% less than the previous generation of homebuyers (people who purchased their homes between 1985 and 2000 who put 21.1% of their monthly income towards mortgage payments). That means if you bring home $75,000 per year, you'd spend an average of $1062.50 on your monthly mortgage payment in 2018. Compare that to the $1318.75 spent by the previous generation.
Prices may be rising, but competitive interest rates and a strong job market means people are still paying less each month for their homes than the historic average, which is great news for potential buyers. If you've been thinking about purchasing a home, you're going to want to make a move before those costs start increasing.
Yvette is a lifelong resident of Alaska and have lived in the Anchorage area for over 26 years. She takes pride in offering the best real estate services to my clients. Yvette brings a wealth of kno....
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Here's the residential weekly market activity for May 18th to May 24th, 2019.In Anchorage, 564 currently active listings remained from 605 listings during the period. There are 64 new, 55