Amarillo's latest housing numbers are a positive sign for the future
AMARILLO, TEXAS -- The National Association of Realtors released a positive housing sales report, so locally, what is the latest housing report for Amarillo.
Nationwide, home sales are up 36% from their bottom in January, and sales are up 10% in October from September.
Locally, Amarillo saw an increase of 18% in October from September. After the first five months of this year Amarillo was down nearly 25% from 2008. The summer months started a rebound, and as of today, we're only around 10% off of our total sales numbers from 2008.
"That's indicative of our market having already turned around and has started back up," said Randy Jeffers, Caldwell Bank First Equity Realtors.
Officials say that with the extension and creation of more tax credit programs along with low interest rates, now is still a great time to buy. For Amarillo homeowners, they should not see any further decreases on home prices.
"I think one signal that it may be sending, is with the inventory staying as low as it is, I think we could see some increased home building activity after the first of the year," said Jeffers.
All in all, the numbers and reports are a positive sign for the future of Amarillo.
