Experts talk about Amarillo housing market after recent flooding

AMARILLO, Texas (KFDA) - Flooding in the area over the past few months has caused damage to many peoples’ homes and properties.

While experts say the flooding caused long-term effects, the housing market is not affected – it’s going strong.

More Amarillo residents are putting their houses up for sale with fewer buyers looking for a new place. This is opposed to the last few years where those statistics had been flipped.

“From a standpoint of what has happened in value, we see about 17% less sales in the market place, comparing it to the same time period last year, not dramatically,” said Greg Glenn, with Coldwell Banker First Equity.

However, Jason Ault with the Amarillo Association of Realtors says an increase in employment opportunities coming to the Amarillo area will aid in the demand for housing.

“So our housing market here this month in June or July actually now is still pretty strong, we’re looking at a little bit of increased inventory year over year,” said Ault.

Ault says their first goal is to educate and provide for their community, which is why a relief fund was set up for victim of the natural disasters.

“If you were displaced, and you incurred any costs by being displaced, you could qualify up to $1,000 to be reimbursed from the Texas Realtor Relief Fund,” said Ault.

The fund aims to provide immediate assistance to individuals and families who have been displaced by the flooding in Potter and Randall counties and the tornado in Perryton.

Applicants who meet the following requirements are eligible for up to $1,000 in assistance:

• Your primary residence must have been uninhabitable due to the flooding
• You must have incurred displacement costs and have receipts of these costs
• Your displacement costs must have been incurred in Texas

The funds will be available for the next 30 days.

To apply for the Texas Realtor Relief Fund, click here.

Copyright 2023 KFDA. All rights reserved.