Anchorage housing market tightest in 15 years

Posted: Wednesday, May 03, 2000

ANCHORAGE (AP) -- The Anchorage housing market is the tightest it's been in at least 15 years, according to local realtors and builders.

Since November, the number of homes for sale in the state's largest city has been at the lowest level since at least the early 1980s.

Last month there were 777 single-family homes listed for sale in Anchorage, Eagle River and Girdwood. That was down from more than 1,300 a year earlier.

Real estate industry experts say they're not sure exactly why the city's housing market has slowed so dramatically. But they say rising interest rates, cheaper land in the Matanuska-Susitna Borough and uncertainty in the oil industry have contributed to the sluggish market.

''I think this is happening because everybody is still waiting to see what will happen with these oil companies,'' said Anchorage builder Chuck Spinelli.

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