Amarillo Home Sales Boom
Amarillo realtors are reported record-breaking sales numbers.
According to Lyons Realty, their sales are up 40% over this time last year. The Amarillo Association of Realtors is also reporting an increase, of 14% over last year.
FHA loans interest rate is at 3.75% and rarely has it been cheaper to get a loan.
Not only are sales high but available inventory is lower than normal. Additionally new construction has slowed and there has been a shortage of available lots. It is expected that to be the case for the immediate future.
It is estimated there is only around four months of inventory remaining not counting new construction.
The takeaway is, if you're looking at a new home don't wait. Tomorrow it could be gone.