How the housing market in your state determines who will win the mid-term elections

by Rachel.Norvell17 Oct 2014

Alaska housing market a toss-up

Incumbent Democratic Senator Mark Begich faces a steep challenge against Republican challenger Dan Sullivan, who is ahead in the polls. RealtyTrac predicts a toss-up. Of the three counties in Alaska scored, one was categorized as better off, while two were categorized as a toss-up and none were categorized as worse off.

In Alaska’s most populated housing counties — Anchorage, Fairbanks North and Matanuska-Susitna —unemployment is down compared less than one percentage point compared with two years ago. In Anchorage County, only 2.6 % of homes with a mortgage are seriously underwater, compared with 7.5% in Matanuska-Susitna County. 

The percentage of median income needed to purchase a median priced home is up 3 percentage points from two years ago in Anchorage County and is up 0.4 percentage points in Fairbanks North Star County. However, foreclosure starts are up significantly in from two years ago in two of the three major Alaska housing markets — Anchorage and Fairbanks North Star — while foreclosure starts are down from two years ago in Matanuska-Susitna.

Click here to view RealtyTrac’s Housing Scorecard.

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