Fairbanks housing sales rebounding from slump
Published Friday, October 16, 2009
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FAIRBANKS — Reported third-quarter home sales leveled off this summer to match previous years’ numbers. That bucks a trend of sagging quarterly sales, by volume, seen in Fairbanks since the winter.
The stable sales figure, reported Thursday by the Greater Fairbanks Board of Realtors, arrives despite a simultaneous reduction in the number of homes on the market. Kirk Maynard, a broker and president of the Realtors board, called the numbers positive and said they offer further evidence that Fairbanks’ market is relatively stable compared to many places Outside.
Maynard cited a combination of factors, including a decline in speculation home construction, that likely contributed to the reduction in for-sale signs, something he said will help stabilize prices.
“Both (supply and sales) are trending in the right direction,” he said.
There were 287 one- to five-bedroom homes bought in Fairbanks between July 1 and Sept. 30, compared to 278 in 2008’s third quarter and 289 two summers ago. The flat, quarter-by-quarter comparison breaks a slump in numbers seen through the winter, spring and summer.
The numbers coincide with a return of 4,000 soldiers to Fort Wainwright Army post from Iraq. Maynard and others Thursday said part of the changing sales picture could be attributed to the return.
A national $8,000 rebate for first-time homebuyers likely buoyed sales numbers. That program, started last winter, is slated to conclude at the end of this month.
Stacy Risner, a director for the Fairbanks Realtors board, cited estimates that 1.8 million people will have bought a home through the program before it ends.
The Realtors board reported 445 homes were listed for sale in and around Fairbanks on Sept. 30, the end of the third quarter. That’s a far smaller listed marketplace than the 665 homes for sale at the end of the third quarter last year and the 649 in the same quarter two years ago.
Community Discussion
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Re: Photo --
What absolutely hideous buildings. Little says, "Screw you, pedestrians!" (or "We mean not to have a neighborhood here") better than a subdivision full of houses, two-thirds of whose street-level surface is garage door. Will the poor people who choose to sleep here never get to sit on their front porch and talk with the neighbors passing by? No, these are houses whose primary interface with the world is meant to be automotive, houses of retreat from (not engagement with) their would-be neighbors.
Better to get news of home that are selling than of people who are losing their homes.
Paul,
You have an excellent point...but it kind of reflects our society. It's not the houses' fault!!!
The last person you should listen to on this type of report is a realtor. They are always overly positive. Remember in January the national board of realtors was saying it was a great time to buy a home in the lower 48. Be carful when sales are directly loinked to the person giving the advice...
steelrsrv - Really? I'd argue with you but the Fairbanks and Valdez merchants just informed me that the halibut and silvers are in real thick now, so to Valdez I go.
Yeah! Maybe my property taxes won't keep climbing with the new distribution of costs...
Oh, heck, who am I kidding.
287 in 09, 278 in 08 and 289 in 07, exactly where is the rebound. Question should be how many new homes have been built in addition to old ones being sold. Also, anyone notice in the ads, you are seeing more and more houses in the under $200,000 range on the market today.
"287 in 09, 278 in 08 and 289 in 07, exactly where is the rebound. "
The question should be "Where was the slump?"
9-11 house difference? That's almost statistically insignificant. Only about a 3% change year to year. That can happen just randomly.
You are correct Plebian.What a rollercoaster!
plainview then go fish, your money your time sport, don't really care....
FYI..
Check for Chinese Dry Wall?
On new construction.
"Insurers dropping Chinese drywall policies"
http://news.yahoo.com/s/ap/20091015/ap_o...
The houses look pretty nice to me except I'd personally like more land and trees. There are houses for sale downtown, in Weeks Field, in Slaterville for those who want postage stamp size lots where you can see and hear everything your neighbor is doing. A lot of folks want more privacy. If I want to see my neighbors, I invite them over. Fairbanks offers lots of real estate choices.
The article says the $8k tax rebate ends "the end of this month." I think they mean the end of November - though if you haven't already made an offer by now, you probably aren't going to close before the end of November anyway.
steelrsrv - Sorry , I was being facetious and evidently obscure.
I was agreeing with you with another example of 'accurate' reporting from the foxes guarding the hen houses.
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