Downturn in Waco Market, Not all Bad Though

According to the Real Estate Center at Texas A&M University, here is how the month of November 08 went for exisiting home sales in Waco:

1. Sales were down from last year 32.5%
2. Median prices were down from last year 11.4%
3. November's inventory actually decreased a bit to 7.9%

From my eyes, this is a typically slow period as all winter holiday time frames tend to be. However, we are still experiencing some backlash from overall economic trends resulting in fewer sales and lower prices.

The bright side is that inventory appears to be decreasing and even with the down trends, home prices in the Waco area are doing OK and even quite well in many areas. Sales are still being made, but more than ever, you MUST analyze markets carefully as sales and pricing trends may vary greatly from neighborhood to neighborhood. Still a great time to buy. Take advantage of lower prices and great mortgage interest rates.

TO VIEW THE ACTUAL REPORTS BY THE REAL ESTATE CENTER PLEASE CLICK HERE FOR WACO STATS.

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