Local Housing Market Outlook Encouraging - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Local Housing Market Outlook Encouraging

A brand new housing report shows signs of economic optimism. The report shows housing figures from January to June of this year. 

It shows that while the local housing market is not back to peak performance quite yet, for the first time in more than a year, things are definitely looking up.

Prudential Realtor Greg Glenn says, "It means more home sales, means more people out in the market place buying homes. The average home prices, they're remaining flat, but steady. Median sales prices are actually increasing." 

That median home price increased from 125,000 to 127,000 thousand. Glenn says that is the big indicator that there could be a light at the end of the tunnel... He says is a poor economy, that median price would probably not being going up.

The number of houses sold went from 288 in June of 2008 to 300 today. Part of the reason the market is seeing a bit of boom could be due to the $8,000 first time home buyer tax credit...

People who most likely otherwise would not have purchased a home, are choosing to do so now to take advantage of the extra help.

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