Have We Hit Bottom?

The Anchorage and Eagle River new construction market hit a low in 2008/ 2009 and is making a slow climb back. Historically low mortgage interest rates, along with a stable Alaska economy, is helping builders make a modest comeback in 2010 for single family home construction. The best guesstimate is the year 2010 will mark a return to the 2007 level of 300 new home permits—still a long ways to go from the peak permit level of 2001 and 2002 but far better than the bottom of the past two years.