Market Memo Feb 19 - 26 2024

I'm highlighting more new construction homes this week. We need more homes to be built to give people the ability to lock in their largest monthly expenditure. The total inventory is still low and the next memo will be in March. We need to learn that our new normal is a low inventory. On this date in 2019 the inventory was 542, exactly 2X what is was this morning.

I also note that the average sales price is about $150K higher than it was in 2019. I think we may need to find out how to build lower-priced houses that qualify for a loan. They will need to be smaller as well. Perhaps a 2 bedroom ranch-style house. If it qualifies for a loan I think it will sell quickly. Can a builder make a profit with small houses? You tell me...

The three houses in this video are:

8484 E Amazing View Priced at $775,000. Built by Gillespie Custom Homes listed with Nani C Palmer, Les Bailey & Associates
(907) 229-2352 (907) 229-2352

9315 E Spring Creek, Priced at $575,000. Listed with Amy Neuharth,
907-232-2907, Signature Real Estate

15126 E Nina, Priced at $450,000. Listed with Market Van Diest,
907-232-7900, Valley Market Real Estate

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This representation is based in whole or in part on data supplied by, and to, the subscribers of Alaska Multiple Listing Service, Inc. (AK MLS, Inc.). AK MLS, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by AK MLS, Inc. is for its own use and may not reflect all real estate activity in the market.

Видео Market Memo Feb 19 - 26 2024 канала Valley Market Real Estate