National survey: Waco among top 10 ’emerging’ housing markets in U.S. | Local Business News

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“With limited supply and strong buyer demand, homes in these areas sell fast, in just 18 days versus 41 among all markets,” said the release.

The high-ranking communities also tend to have lower jobless rates and shorter commute times. They also have more small businesses per capita, but weekly wages are about $40 lower on average than the total.

Brad Alford, a longtime local custom homebuilder, said he remains busy erecting homes across the area, in the Hidden Valley, Badger Ranch, Tanglewood and The Preserve subdivisions. He’s seeing increased interest from the West Coast and from Houston, some of it generated by people with ties to Baylor University who want to retire in Central Texas.

Yes, he confirmed, he’s building more homes priced at $1 million or more, saying the price surge is due to a variety of factors, including demand, supply costs and the price of lots, “that were once $55,000 but now $85,000.” He said lumber prices are…

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