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More Affordable Housing in Amarillo

Though Amarillo has many homes valued at $500,000 or higher, builders are starting to take note and build houses in a lower price range. According to City of Amarillo permits, new houses coming onto the market in 2016 averaged $18,057.62 less than those that delivered in 2015.

The lower-priced houses come at a time when demand is increasing. Nineteen homes in Amarillo and Canyon, TX sold at $500,000 or above, between June and November, 2016, according to the Multiple Listing Service (MLS) used by Realtors. In comparison, the MLS reported 1,242 houses sold for $230,000 or lower in the cities, during the same time period.

Amarillo is projected to sell out of currently available houses priced from $100,000 to $139,000 in less than two months. A housing market in equilibrium typically has four to six months of inventory.

For comments, questions or concerns, please contact Amy Sorter

For advertising information, please contact Joni Margotta


Inside The Story

Read More at Amarillo.com

About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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