1.25.2010

The Big Picture of 2009 Amarillo Real Estate

JANUARY - DECEMBER 2009

(Single-family homes)


                                  2008                              2009                      % Change

Closed sales               2870                             2650                     < 7.6%>

Sales Volume             $403,962,376              $373,253,919            < 7.7%>

Ave Sales Price          $142,841                     $141,976                  <0.1%>

Homes for Sale          1405                             1261                      <10.3%>


The above figures were compiled by Prudential Ada, REALTORS using Amarillo Association of REALTORS MLS data.

As expected, home sales fell in 2009 as a result of declining economic conditions, changing mortgage loan requirements and higher levels of unemployment.

Favorable factors influencing home sales include Federal tax credits for first-time homebuyers and repeat buyer having owned their homes for 5 years. Lower mortgage rates have enhanced affordability and national economic factors appear to be improving.

Looks like a bright 2010 Ahead! NOW is a fantastic time to purchase a home with super low interest rates, the federal stimulus money available until April 30, 2010, and the Market being on the bottom of the curve. Great time to make a strong equity purchase!
Call me when you are ready, lets grab some coffee and talk about your next home!

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