KFDA - NewsChannel 10 / Amarillo News, Weather, SportsHousing hotspots in Amarillo: Where is the projected boom?

Housing hotspots in Amarillo: Where is the projected boom?

AMARILLO, TX - The renting market in Amarillo stood strong last year, while realtors saw a sluggish home buying trend in 2011.

In 2011, Amarillo realtors closed on 2,573 homes while 2,586 houses were sold the previous year.

Compared to other larger markets like Dallas and Houston, home builders and realtors say we aren't doing that bad.

Realtors project the southwest side of town near Hillside and Soncy will boom this year as new homes are being built.

The average price of a home in Amarillo runs just above $120,000.

However, places like "The Colonies" and "Greenways" have homes in excess of $200,000.

The southwest side is expected to see growth as new shopping emerges off Soncy.

In addition, realtors say the east side is less likely to see a big expansion with industrial buildings and offices lining the streets.

Renting is still a popular option for those who are unable to secure financing or have problems with their credit.

However, realtors say if you qualify, buying a house may be the best option as interest rates continue to hover around 4-percent.