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Waco, McLennan County real estate market continues to boom during COVID-19

Posted at 6:59 PM, Jul 23, 2020
and last updated 2020-07-23 19:59:58-04

If you're looking to buy a home in McLennan County, you better hurry because homes are going quick. Even amid the COVID-19 pandemic, the housing market is booming.

Since the show “Fixer Upper” launched, Waco, Texas, has become a hot spot for future home buyers. The market has already exceeded the number of homes sold this time last year.

“This isn’t comparing it to a dead year. This is comparing it to a hot year (2019). We are $25 million up from last year in terms of what is going on in the market. So yes, people are coming here. People are buying and selling,” said George Thomas, a Central Texas real estate broker.

Suzanne and Alex May are originally from California but recently bought a home in Waco to retire.

“Everybody is so friendly so sweet.. We just love how everyone is out here. We love the wide openness and not all the crazy traffic,” said Suzanne May.

Waco offers a mid-size city with what some would say is a small town feel. It also sits between two major metro areas, Austin and Dallas/Fort Worth, both within driving distance. Compared to the rest of the United States, Waco also has a lower cost of living.

”In terms of real estate prices and what you can get for your money here, compared to everywhere else in the country, you pretty much can get something better and be able to put money in your pocket,” said Thomas.

”We would see the Fixer Upper show and I was just amazed at the cost of living, so we came out a couple times to visit. I wanted to see the area and see what its like and yea we like it,” said Alex May.

Due to the pandemic, realtors have had to change to more modern techniques to show homes so everyone involved can stay safe using virtual home tours or the use of face masks and gloves.

”Agents are becoming aware of how important doing a video of a walk-through of the property is. How the benefits of using more modern marketing techniques like having a camera that can take 360 images of a room and go through an entire house like that so you can literally do like a scroll through a house,” said Thomas.

Due to COVID-19, many places across the country are also now seeing an urban to rural shift to find more space around them.

Thomas told 25 News where people might find delays in the home buying process is in getting your loan approved. The best advice is to get pre-approved and speak with a loan officer before meeting with a realtor, so you don’t get delayed when you’re trying to buy you’re dream home.