New numbers released Friday on pending home sales in January showed less growth than economists expected.
Home sales have seen a slowdown this winter, and the High Plains is not exempt.
"Home sales in general for January, locally, we are 4.4-percent down from where we were in January 13," Kent Meyer, Chairman Elect of the Amarillo Association of Realtors said.
Meyer says in the begining of 2013, pent up demand after rough years in the market drove up sales.
He also says slightly higher interest rates can deter buyers.
As for new contruction, limited land availability has meant less growth.
"In the southwest part of town, we've had we've had a little bit of problem with infrastructure, getting some lots available. I know that the city and the developers are working hard on that and are making progress on that," Meyer said.
Good news for Randall County; new development has given Canyon a boost.
"I know that we did have an upswing in Canyon. Because of the new Canyon East development. It's in a price range that Canyon has needed," Meyer said.
As for the rest of the year, Meyer says they're optimistic about what's to come.
Regarding homes on the market in Potter and Randall counties right now, there are 1,179. Meyer says that's a little lower than average, making demand a little higher and tilting the market slightly in the seller's favor.
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