Amarillo's seller's housing market continues to soar - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Amarillo's seller's housing market continues to soar

Source: KFDA NewsChannel 10 Source: KFDA NewsChannel 10
Kent Meyer with the Amarillo Association of Realtors Kent Meyer with the Amarillo Association of Realtors
Model home in the Vineyards housing development in north Amarillo Model home in the Vineyards housing development in north Amarillo
AMARILLO, TX (KFDA) -

Texas home sales and prices may be the only thing rising as fast as the summer temperatures. The state's housing market showed strong gains in the second quarter, that's according to a recent report by Texas Association of Realtors. 

It's no different in Amarillo. Realtors are busying and the amount of time the average homes stays up for sale is decreasing. 

"It's been a record setting year in Amarillo," said Kent Meyers with the Amarillo Association of Realtors. 

Meyer has seen our city's housing market climb to new levels. 

"We have sold more houses in the first two quarters in 2016 than ever in history that we've kept record," said Meyer. 

Over 18,000 houses have already been sold in 2016, that's nearly a 4% increase from this time last year. But one small set back is houses in our area are more expensive. 

"Median prices are just a little bit above $200,000. The prices continues to move up just slightly," said Meyer. "That's basically due to the lack of inventory in Amarillo and that's a problem we've had, we just simply don't have enough houses to meet the demand on new homes and existing homes." 

According to Meyer, homeowners will barely feel the impact of the pricey homes. 

"Our interest rates remain incredibly good," said Meyer. "When you buy a house, that's an investment, probably the biggest investment that any family ever makes." 

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