Amarillo Economic Analysis

Amarillo's economy is stronger due to higher retail sales, more overall construction, more traveling, and a roaring ag sector.

Retail Sales are up 2.6% from 12 months ago and year to date sales are up the same compared to 2024.

New Car Sales are up more than 800 cars from last July, but Used Car Sales are down by 600.

Airline Boardings are up 5% from last Summer, and the Hotel/Motel Tax Collections are up 9.7%.

The Household Survey shows an increase of 3,337 jobs from 12 months ago. The Employers Survey shows 2,493 more jobs over the same time. Wages are up 4% from a year ago.

Overall construction is up 178%. Projects range from Banks, Utility Service companies, medical, and food wholesale. We hear the power project, outside of Claude, is far along, but the Pantex Project has not begun.

30-year mortgage rates remain below 7% and there were 8 more housing starts this month compared to a year ago. House prices are flat with a year ago.

There is zero drilling activity in the Panhandle, with natural gas at $3.54-up 52%- and oil at $66-down 19%.

Wheat prices are flat with a year ago, but area farmers say it's the best year in decades. Recent rains have hurt harvesting, and the crop needs to be cut before it sprouts. Cotton prices are down 24% and there will not be much planted this year in our area. Corn is up only 2% from a year ago, but off to a great start with the rains.

Milk prices are down 13%, but Dairies are still profitable due to less debt and lower input costs. Feedyard profits range from $100 per head to $400 per head. Area ranchers are also making money during this strong cattle market.