There is a clear need for entry-level housing in Anchorage, yet most of the growth continues to happen at the high end of the market. And then there is the elephant in the room: the Mat-Su Valley.

Why is it so difficult for people to find housing units in this area? To explore that question, I invited Skyler Quinn, the Vice President of the Anchorage Homebuilders Association, to discuss what is happening on the ground in this episode.

We break down the market realities, the barriers to building, and what it could take to improve housing availability moving forward.

Skyler Quinn's Background

· Quinn was born and raised in Alaska and grew up in Eagle River. He attended Northern Arizona University, where he initially studied construction management before switching to and graduating with a degree in civil engineering.

· After completing summer internships locally, he took a job at a civil engineering company in Eagle River, where he worked on civil design and administered improvements for a subdivision his father was developing.

· Quinn later joined the family business, and has been working there ever since. Currently he serves as the vice president of the Anchorage Homebuilders Association.

State of Home Building in the Municipality of Anchorage

· Quinn predicts that 2026 will be slightly better than 2025, but not significantly so. He describes 2025 as a difficult year for home building. Billions of dollars invested in major North Slope projects did not translate into meaningful economic activity for local builders and developers.

· He points to a clear divide in the housing market. High-end homes continue to perform well, while entry-level housing has largely stalled. Quinn’s company has remained active in the luxury segment, with strong lot sales at Panoramic Ridge, where inlet-view parcels are priced at $325,000 and support $1.5 million to $2 million homes.

· In contrast, townhomes priced around $450,000 are not moving, leading some builders to convert them into rentals.

· High interest rates, limited savings among younger buyers, shifting generational preferences toward fixer-uppers, and a lack of creativity in affordable housing design all contribute to weak entry-level demand.

· These challenges are compounded by a shortage of buildable land, high infrastructure costs, and limited utility access, pushing more growth toward the Mat-Su Valley.

2026 Anchorage Real Estate Outlook from Skylar Quinn

· Quinn is more optimistic about the outlook for the next few years due to federal investment, including military, Coast Guard, and infrastructure projects.

· We both agree that all housing types are needed, including rental, entry-level, mid-priced, and luxury homes, because the region is underbuilt.

· Quinn also encourages people to contribute to their industry or community, pointing to his own involvement with the Anchorage Homebuilders Association and the Planning Board.

“It’s hard for people to save extra money for a down payment and closing costs for entry-level housing because they are very affected by interest rates, and inflation has made it even more challenging.” – Skyler Quinn

Resources

Learn more about Skyler Quinn’s work and his family’s long-standing role in Alaska home building through Michael Quinn Construction.

Sponsorship

This episode is brought to you in part by Berkshire Hathaway HomeServices Alaska Realty. Transform your real estate journey with expert guidance. Check out their services: https://www.bhhsalaska.com/

Credits

©2025 Alaska Real Estate Podcast. All rights...

We have a special guest joining us in this episode: Mark Begich, an Alaskan politician and former U.S. senator. Mark joins us to share his vision for improving downtown Anchorage. He also discusses what’s impacting the housing market and the challenges facing homeownership in Alaska today.

Meet Mark Begich

· Born in Anchorage, Mark Begich is the first U.S. senator native to the state of Alaska. He previously served as Mayor of Anchorage from 2003 to 2009 and as a U.S. Senator from 2009 to 2015, representing Alaska as a Democrat.

· With prior experience on the Anchorage Assembly and numerous boards, Mark brings a strong business-minded approach to public service, with a focus on resource management, energy, and community development.

Downtown Anchorage: Past, Present, and Potential

· The heart of downtown Anchorage isn’t where it should be, and Mark agrees. He reflects on his hotel redevelopment project during the pandemic and the positive impact it had on the surrounding community.

· A city is often judged by its downtown, not just its residential suburbs. When downtown feels inactive or neglected, people are less likely to want to live or invest in the area.

· Mark shares why Anchorage and its surrounding neighborhoods need bold investments, improved walkability, and a higher overall quality of life.

Challenges and Opportunities: Housing, Taxes, and Policy

· Anchorage is currently experiencing a population decline among residents ages 30 to 55, while the population of those 55 and older continues to grow. This shift is partly due to baby boomers returning to be closer to family and to take advantage of tax benefits.

· One of the biggest challenges facing younger residents is housing affordability. Rising costs are making it increasingly difficult to live in Anchorage.

· We break down current tax abatement policies and make the case for incentivizing owner-occupied housing, not just rental development. We also discuss the potential benefits of a seasonal sales tax as a way to diversify Anchorage’s revenue while capturing tourist spending.

Looking Forward

· Mark reflects on public service, the importance of community engagement, and what Anchorage needs to thrive in the next decade. This includes collaborative investments, education reform, and a downtown that draws both young professionals and retirees.

· Despite current challenges, he shares his optimism for Anchorage. If everyone does their part, growth and vibrancy can follow.

“What do you want to do? Do you want to wait for something to happen that may not be in your interest as a community, or do you want to engage and figure it out? You don’t get to sit on the sidelines and hope it all works. That’s not how it works.” — Mark Begich

Timestamps

00:01:16 – 00:01:57: From Family Roots to Alaska Entrepreneurship

00:05:04 – 00:05:48: Launching Northern Compass Group

00:10:09 – 00:10:49: Redeveloping a Downtown Hotel During COVID

00:13:44 – 00:14:04: Building a Modern Winter City

00:16:08 – 00:16:18: An Honest Assessment of Downtown Anchorage

00:19:49 – 00:20:08: Tax Policy and Owner-Occupied Housing

00:34:17 – 00:34:58: Optimism for Anchorage’s Next Decade

Sponsorship

This episode is brought to you in part by Berkshire Hathaway HomeServices Alaska Realty. Transform your real estate journey with expert guidance. Check out their services:

Everything is going up in our economy, including housing prices. But people are still finding ways to buy homes in Alaska. The reason why may not be what you think.

We’re going over our 2026 real estate outlook and how it can still be affordable to invest in or buy properties in Alaska.

Commercial Market Recap

1. Starting off, Lottie Michael shares her 2025 recap on commercial real estate. Industrial, office, and retail all had a healthy economic year.
2. She also shared her Walmart story. It took her a few years to sell the building, but now she’ll probably never sell that space again thanks to the new furniture store that is doing so well.
3. National brands are preparing for the market and investing in retail commercial leasing. The restaurant and hotel industries remain strong and continue to see success.

Residential Market Realities

1. Connie Yoshimura is finding the Anchorage housing market a bit boring, but that’s a good thing. It shows the market is healthy and strong.
2. Inventory is low: only 146 residential properties are for sale in a city of over 286,000 people. The limited choices allow homes to sell quickly, typically within 29–32 days.
3. The average closing price is 99.78% of the asking price.

AI’s Influence on Real Estate

1. AI technology is helping real estate photos look more appealing to buyers. Recently, Connie saw an agent use AI to add horses and chickens to his rural property for social media.

Valley vs. Anchorage: Market Comparison

1. Anchorage may have the luxury homes, but the Mat-Su Valley offers more homes for sale and additional benefits.
2. This is largely due to differences in population, new construction, home and land prices, and property taxes.
3. Boomers are also preferring not to live in multi-story homes and are looking for ranch-style homes, making them increasingly popular in the Alaska real estate market.
4. Maybe there is a reason why some Anchorage residents are willing to take the “commute” for more housing options.

Obstacles in Developing New Parks and Subdivisions

1. Mobile home parks often get a bad reputation, and that may never change. Surprisingly, developing new parks isn’t cheap, which raises the question of whether it’s worth it.
2. Much of the cost comes from regulations, and we share our thoughts on how these rules impact development.

“It’s a big mistake to think we can have four-, five-, or six-story apartment buildings. They might be full for a while, but you’ll eventually see turnover, because the permanent residents who live here simply don’t want to live like that.” - Connie Yoshimura

“So if we’re going four or five stories up with multifamily, stick-built apartments, we’re going to need some yard storage for all their outdoor toys. And honestly, I don’t know of any apartment or condo...