Waco, Texas—The city has recently seen a noticeable increase in “For Sale” signs on homes, with many remaining on the market for longer periods than usual.
According to data from the Multiple Listing Service (MLS), homes in Central Texas now take about 108 days to sell—over three months—marking a significant change compared to 2022, when homes were selling within just a few days.
Adam Alexander, a local real estate agent, explained that this shift does not indicate a decline in the housing market but rather a return to normal conditions. He noted that current interest rates, hovering around 6%, are relatively normal and may remain stable for some time.
Alexander added that the current interest rate encourages buyers to be more cautious in their decisions, while a 34% increase in housing supply has provided more options for buyers and enhanced negotiation opportunities.
Experts pointed out that homes taking longer to sell are often overpriced or not well-prepared for the market. Alexander emphasized that sellers should carefully price their homes and rely on professional photography to showcase them attractively, stressing that market conditions are no longer like 2020, when homes sold quickly and easily.
Preparing a home professionally has become much more important now. Sellers are also advised to adjust their expectations toward realistic prices and look for ways to present competitive offers, while the current slowdown provides buyers with opportunities to secure better deals.
