Home values in Anchorage increased in 2022, but many new home buyers face reduced inventory and lower purchasing power.
ANCHORAGE, Alaska - The Anchorage Assembly held a work session on Thursday to review the Municipality’s. Many homeowners will be happy to know, trends in the Anchorage area show that property value is continuing to increase.
The report shows that single family homes have varied increases based on assembly district, with Downtown increasing 1.3 percent, Eagle River/Chugiak increasing 2.1 percent, West Anchorage increasing 2 percent, Midtown increasing 1.8 percent, East Anchorage increasing 1.2 percent, and South Anchorage increasing 2.8 percent.
Low supply causes high demand, even on homes that are for rent rather than sale. On average, Anchorage rents increase by 14 percent every year.“A lot of that will have upward influences on prices, but then we also have reduced purchasing power now as well. Interest rates are on the rise, I think that’s on a lot of people’s attention. We also have inflation that’s on people’s mind as well,” Gadamus said.
The Municipality also says property valuation notices — commonly referred to as green cards — are going to look different this year.
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