The Prosper TX Real Estate Market For Dec 2022
Brent Wells February 9, 2023
Brent Wells February 9, 2023
Many of our Prosper Texas clients believe that the Prosper real estate market is in a free fall and their homes are losing massive value! This is not true and the Prosper Tx real estate market is quite strong. We are seeing an overall price reduction of about 6% in our Prosper homes that go under contract. Many of these homes were over priced to begin with or were inventory homes from builders.
We have only 3 months of inventory and many of our listings are currently getting multiple offers. You see it is a supply and demand issue. Prosper is in high demand and builders are actually slowing down on the number of homes they are building. Builder sentiment is down 89% over last year. They are simply being cautious until they know how the market and the interest rates will stabilize.
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