Making a move: Housing market on the rise in Amarillo

Making a move: Housing market on the rise in Amarillo
Real estate in Amarillo (Source: KFDA)
Real estate in Amarillo (Source: KFDA)
Real estate in Amarillo (Source: KFDA)
Real estate in Amarillo (Source: KFDA)
Real estate in Amarillo (Source: KFDA)

AMARILLO, TX (KFDA) - If you're in the market to buy a home in Amarillo, local realtors say now is the time to take action.

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From meeting with a realtor to getting finances in order, more people are acting on purchasing homes.

"We've hit the ground running," said Sabre Cofer, a realtor with the Living Texas Style Real Estate Group. "We're definitely seeing an increase right now, lots of buyers out there but we're also seeing more houses come up for them too."

The Amarillo Association of Realtors has just released a new report on Amarillo's housing market in the first quarter of 2018 -- and most of these numbers are on the rise.

The median price is listed at $160,000, which is a 3.2-percent increase compared to the same quarter last year.

"These numbers are dealing with the first quarter of 2018 versus the first quarter of 2017," said Jim Carr, Chairman of the Amarillo Association of Realtors and owner of ERA Courtyard Real Estate. "It does show that prices are still moving up slightly."

Active listings are up 2.5 percent, with 953 homes listed in the first quarter.

"We've been at such low inventory levels for so many years now, it's really almost hurting our housing market a bit," said Carr. "To see those numbers coming up as we move hopefully a little closer to a balanced market, it will be very good and be very healthy for our market."

Even companies moving into the area help increase the number of people buying homes in Amarillo.

"Companies relocating employees into our marketplace is still fairly strong and looks like slightly up this year, so far, over last year," said Carr.

For those looking to buy a home, realtors said now is the time to make that investment.

"With prices moving up, interest rates moving up, affordability, that gap is starting to close a little bit," said Carr. "So it's a great time for folks that have been on the fence about purchasing a home now to say, 'you know, let's take advantage of this because we're not probably going to see it, you know, affordability getting better for a while.'"

"I think taking advantage of the interest rates right now, it would be a really good move because the rumors are that they're going to continue to go up," said Cofer.

However, as those rates move up, it appears Amarillo's citizens are still taking action for a move of their own.

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