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Texas report shows increase in housing availability in Waco; favorable to buyers
By Bella Popadiuk,
4 hours ago
The Q2 edition of the 2024 Texas Quarterly Housing Report by Texas Realtors is out, highlighting the increase in housing availability in the state.
Waco active listings increased 27 percent to 1,194 in 2024 Q2.
Closed sales are down 1.3 percent
Homes in Waco are staying on the market for about 15 days longer than this time last year
Home prices in Waco remain stable, increasing less than one percent compared to last year
The median home price is $286,250
BROADCAST TRANSCRIPT:
"Christmas morning when I was 7 or 8-years-old — that's the best way to describe it,"said new, local home buyer and China Spring resident, Brandon Roznos.
Roznos shares how it feels like to close on a home, like he did this month.
"I've been looking for two years — I'm always on Realtor, Zillow, whatever site it may be, pretty much everyday paying attention to all the interest rates and the housing market and stuff," he said.
Texas Realtors released a new quarterly housing report, highlighting the housing availability in the Texas market — Waco's numbers reflect the trends seen across the state.
Active listings increased more than 27 percent compared to quarter two of last year.
Haus Realty's Cory Duncan says this is because sellers are becoming more comfortable with current interest rates.
"The active listings being up 27% this year though, that is a big number, that's something to take notice of and so more inventory means more options for buyers right. that gives the buyers a little more leverage for something like seller concessions or more favorable terms to the buyer."
The report shows homes in Waco are staying on the market for about 15 days longer than this time last year. Duncan says this is because with more inventory, buyers can take longer to view more options.
"Let's first go back to when the market was incredibly hot. if you were a buyer and you saw a house and you liked it, it was like you are putting in an offer for full price plus because you know the next buyer that's gonna see it may also like it and if you don't get it now it will be gone. that has changed a little bit as inventory has increased."
Home prices in Waco remain stable, increasing less than one percent compared to last year. The median home price is $286,250.
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