How The Soldotna Real Estate Market Has Changed In The Last Year

Soldotna Real Estate, homes for saleThe Soldotna real estate market is very fluid and constantly changing. Even in just the past year, new trends have developed on both the Kenai real estate market and the Soldotna real estate market. The se prominent cities in Alaska have been the hotbed for changing real estate trends. The past year might be a precursor to the new real estate market that is being created through Alaska.
House Listings Are Rising
One Alaska real estate trend that was difficult to ignore involves the increasing prices of homes. Since interest rates have lowered considerably, there has been a boom in the real estate market. Homes are selling quicker and are on the market for shorter periods of time. However, this has created more of a demand and has resulted in homes selling for higher prices than in past years. Last year prices rose to unexpected highs, but this year prices will fall slightly. The demand will not be quite so great and the sale prices of homes is predicted to tail off just a bit.
Getting a Loan Isn’t All That Easy
Due to the struggling economy, interest rates lowered to all-time lows, which helped to stimulate the real estate market. However, now that the market has recovered interest rates are beginning to rise. Simply qualifying for a loan is becoming more difficult than ever before and there are even more fees and costs associated with the loan process. The down payment that is due with the loan has risen by 1.25% and the premiums will likely only continue to increase.
Less Homes To Choose From
The high demand for homes last year has resulted in less inventory to pick from. There are less homes available on the Soldotna real estate market, which means that you might have to search longer before finding a home that meets all of your needs. This high demand is not great for buyers, but it is ideal for sellers. The real estate Kenai market is now turning into a seller’s market, which will help to stimulate the economy and keep sale prices at all-time highs.
These real estate trends in the past year might not be total indicators for what is to come in the future, but there is some important information that can be gained. The real estate market is bouncing back and will continue to pick up steam.

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How The Soldotna Real Estate Market Has Changed In The Last Year
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The Soldotna real estate market is very fluid and constantly changing. Even in just the past year, new trends have developed on both the Kenai real estate market and the Soldotna real estate market.
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Real Estate Websites by Cherie Young