Home Sale Prices Down - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Home Sale Prices Down

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AMARILLO, TEXAS - If your Amarillo house sells tomorrow, it will probably be worth thousands less than just two years before. Back during the eight-thousand dollar tax credit for first time buyers, sales surged an extra thirty percent, but about two months later:

"Houses are not moving as quickly as they had in the been in the past. and you have to be competitive," said Lisa Harris, Amarillo Association of Realtors President.

In fact in 2008 the average sale price of homes in town topped $141,000. Today, that's dropped to about $139,000.

Harris says that since the tax credit for first-time home buyers, there's just not enough qualified buyers to match the number of houses on the market. That's leading to some tough competition and lower prices.