Alaska Home Show wraps up 57th annual event
The Alaska Home Show's 57th annual event came to a close Sunday at the Alaska Airlines Center.
There were about 150 vendors involved in new home construction or remodeling projects.
In a challenging economy, Anchorage Homebuilders Association, which hosts the event said people still have a lot of enthusiasm when it comes to home projects.
Karen Kassik-Michelsohn, vice president for the association said the last few weeks have been busy for the housing market.
"If you read the newspapers, it doesn't seem very good, but we seem to have had a lot of enthusiasm the last few weeks, some very nice new projects starting some good remodeling projects starting, so we're enthusiastic," Kassik-Michelsohn said. "We're hoping 2017's gonna be a good year."
Alaska Housing Finance Corporation said housing stock in Alaska is still in short supply with more people looking for houses than there are on the market.
The majority of housing stock in Alaska was built between the 1970s and 1980s.
Jennifer Smerud with AHFC said remodeling projects and upgrades can be costly, but there are some lower cost options available.
"For folks that are looking to buy a new house we have a renovation option with purchase, we also have a refinancing if you're looking to do something major," Smerud said.
A second mortgage option may be less expensive, Smerud said.
"You can borrow what you need as opposed to having to borrow like full against the equity of your house, so you can do like a $20,000 or $30,000 project at a little bit lower cost than maybe you think," Smerud said.
AHFC said the state's foreclosure rates are still lower than national averages.