CENTRAL TEXAS — Supply chain shortages and higher costs continue to impact the Central Texas housing market.
The sound of new construction can be heard all across the heart of Texas, but many people looking for their dream home are having trouble finding it.
Waco mother Mary Jane Evans and her family have been looking for their dream home for three years.
"I don’t really want to settle, even though it’s my first investment," Evans said.
"This year, we’re back in the game, and I was at $200,000 — I still need to qualify for more, for something that’s comfortable for me and my kids.”
The search has not been easy, and now the family is looking outside of Waco for a place to call home.
“It’s been stressful because, you know, we find a home, and then something will fall through," Evans said.
"I just don’t want to settle, so at the same time, rent is not cheap here now. It’s not the same as it was even three years ago.”
According to the Texas Real Estate Research Centerm, new home construction in McLennan County is continuing to drop.
There has been around a 25 percent decrease in the last two years.
Research from the center said that more houses have been built in Bell County over the past few years, but new construction there is also dropping.
Used homes are not flooding the market right now, Also according to Chris Meza with Carbajal Realty, used homes are not flooding the market right now.
Homeowners are not selling their homes, because they don’t want to be faced with higher interest rates.
Many Central Texans interesting in buying a home right now, might be wondering what they should do.
“First thing's first — let’s get you talking to a lender. Let’s see what you can get pre-qualified for, and then we can get to shopping," Meza said.
"Eight percent mortgage interest rate is still better than 100 percent rent.”
Mesa suggests to potential local homeowners to stay within their budgets.
“You don’t want your dream, your American dream, to become a nightmare, because you got in way over your head," Meza said.
Meza tells 25 News that it’s really important to find the realtor just right for you, and to build a strong relationship with them, and having patience is also key."
Evans is one of his oldest clients — the two are still searching together until the Evans family finds the home of their dreams.
