ANCHORAGE (AP) -- The Alaska housing market is showing signs of slowing, according to housing officials.
An Alaska Housing Finance Corporation analyst said the housing market was strong in 1999, but slowed as the year ended. Most areas of the state reported decreases in single-family homes and condominium loans in the fourth quarter, analyst James Wiedle said in a news release. The slowdown was blamed on rising interest rates.
The bulk of lending activity was in Anchorage, where the average price for a single family home was more than $173,000, according to Wiedle. Juneau reported the highest prices at $205,000. The Matanuska-Susitna Borough area reported the lowest at $138,000.
Despite the slowdown, last year was a strong one in Alaska's housing market. Lenders financed more than 10,000 loans -- an increase of $355 million from the previous year.
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