Waco homes see surge in sales

WACO – The first quarter 2013 Texas Association of Realtors report showed Waco with 463 sales of existing homes between January and March, an 11.8 percent increase from the same period last year.

The average price of an existing home rose 7.5 percent, to $142,339. Housing inventory has dropped steadily the past year, from nine months to 7.4 months.

For the January-through-March period, local contractors took out 107 permits, representing the highest first quarter since 2008.