Millennials and Retirees set Amarillo Records

A total of 2,980 houses was sold in Amarillo, TX in 2016, increasing by more than 2% from the same period in 2016, and reaching a new record in home sales. The average sales price was $178,194.

According to real estate brokers in the area, a good bulk of the activity came from the under-35 and over-65 demographics. And, unlike other parts of Texas, the region is less volatile, and less dependent on the price of oil. Amarillo is also less dependent on one industry.

Retail brokers also indicated that millennials were, for a while, hesitant to buy houses after seeing the impact of the housing bubble of almost a decade ago. However, younger buyers are coming back to the market, meaning the metro could undergo more housing development.

Subscribe to Connect Daily Texas