How National Political Trends Are Shaping Amarillo’s Housing Market
Key Takeaways
National political trends are contributing to a 5-10% increase in new home construction costs across Amarillo.
Custom built homes are seeing a price rise of $15,000 to $30,000 due to material and labor fluctuations.
Energy-saving custom built homes are facing added costs, with solar panels increasing by 10-12% on average.
Despite the uncertainty, Amarillo's housing demand remains strong, with builders adapting to minimize price impacts.
National economic shifts and political decisions are playing a bigger role in Amarillo’s real estate market than ever before. From rising mortgage rates to material costs, homebuyers and builders alike are facing new challenges.
Rising Mortgage Rates and Amarillo Homebuyers
In 2024, mortgage rates climbed from an average of 6.5% to 7.5%, significantly affecting monthly payments. For example:
A $300,000 mortgage now costs roughly $200–$300 more per month compared to last year.
This increase has pushed some buyers toward more affordable custom built homes or energy-efficient designs to reduce long-term costs.
Custom Built Homes: Facing Higher Costs
Amarillo’s custom home builders are adjusting as material costs continue to climb. Lumber prices have increased by 15%, while steel and electrical components are up by 10%.
As a result, custom built homes in Amarillo are seeing an average price increase of 5-8%. Builders are adapting by using alternative materials, negotiating bulk discounts, and streamlining designs to keep costs manageable.
Energy-Efficient Homes: Rising Demand Despite Costs
Energy-saving custom built homes are still in high demand, even as prices rise. Why? Homeowners are prioritizing long-term savings on utilities.
Homes with solar panels, upgraded insulation, and energy-efficient appliances can reduce monthly utility bills by 20-30%.
While these features may add $10,000–$15,000 upfront, they often pay for themselves within 5-7 years.
Amarillo’s Growing Rental Market
With some potential buyers waiting for mortgage rates to stabilize, Amarillo’s rental market is thriving. B&M Equities, known for providing quality rental homes in Amarillo, has seen increased demand from residents seeking flexible living options while they weigh future buying decisions.
Conclusion: Navigating the Changes
While national political trends are adding pressure to Amarillo’s housing market, homebuyers still have opportunities. Custom built homes, energy-saving designs, and even rentals like those offered by B&M Equities provide flexible options for those adjusting to the current economic climate.
By working with local builders and exploring energy-efficient upgrades, Amarillo residents can still find smart solutions for their housing needs in 2024 and beyond.
