Welcome to 2017!  There’s lots of opinions about the local housing market but facts are always better than opinions.  Take this quiz and learn the facts.

1. What was the average MLS sales price of a single family home in 2016?

A.  $260,000

B.  $306,000

C.  $366,000

D.  $406,000

 

2. Was this more or less than in 2015?

A.  More    B.  Less   C. about the same

 

3. How many single family homes were available in MLS the first week of January 2017?

A.  418      B.  518     C. 618        D.  718

 

4. Average residential sale in the last half of 2016 had what percent discount from the original list price?

A.  1%      B. 2%    C.  4%     D.  5%

 

5. What was the average price of an Anchorage condo in 2016?

A.  $175,000   B.  $203,000   C.  $213,000    D.  $245,000

 

6. Was this more or less than in 2015?

A.  More    B.  Less   C.  About the same

 

7. As reported in MLS, how many homes sold in 2016?

A.  950      B.   2,250       C.   2,800     D.  3,200

 

8. How does this number compare to 2015?

A.  Dramatically more    B.  Considerably less    C.  About the same

 

9. How many new construction homes were built in 2016?

A. 200     B.  300      C. 400      D. 650

 

10. What subdivision had the most single family building permits?

A. Resolution Pointe     B.  Huffman Timbers       C. The Terraces       D. Potter Highlands

 

11. The recent interest rate increase on a $400,000 to 4.25% increases the monthly payment by how much?

A.  $60       B.  $120    C.  $160        D.  $185

 

12. Approximately how much more does an applicant need to earn per month in order to qualify at the higher rate?

A. $200    B.  $400    C. $600    D. $750

 

13. How does the inventory of homes in 2016 compare to the inventory of 2008 real estate recession?

A.  15% more inventory    B.  15% less inventory     C.  About the same

 

14. How do the number of sales compare in2016 vs. 2008?

A. About the same    B. 17% more       C. 17% less

 

15. Based upon the information above what is your opinion on the 2017 residential real estate market?

A. Stable     D.  Slight decline of 2-3%          C.  Increase 5%

 

Answer Key:

1. C  2. C  3. A  4. D  5. C  6. C  7. C  8. C  9. A  10. A  11. C  12. C  13. B  14. B  15. A