As you can see below, the number of new residential building permits issued by the Town of Prosper peaked in 2005 with 315 and in 2006 with 322. 

Then in 2007 the permits held pretty even at 295 a decrease of 27  homes or 8%.

Last year permits shrank to 235 or an additional decrease of 20%.

Through the third quarter of this year, building permits issued are 173 compared to 264 last year. However, this most recent quarter ending on September 30 saw 99 new building permits which is the most permits issued in a quarter since the second quarter of 2007.  I just spoke with Wayne Snell from the Town’s Development Services department and he said October came in at 18.   If November and December can produce 18 each then 2009 will match 2008 for new home construction permits.

No one can forecast the future of home building in Prosper but perhaps 08 and 09 will be the bottom?

It is important to note that 85 of this years permits( about 50%) are in the Glenbrooke subdivision which is Prosper’s most western subdivision.  I drove out there today and discovered just how far west Prosper goes.  It is between #380 and Fishtrap Rd. just east of #1385.   The two  builders at Glenbrooke are Legacy Homes and DR Horton.  Glenbrooke homes are smaller and way more affordable than most if not all of Prosper’s other subdivisions.  Most of the houses are less than 3000 sq. ft. and average about $130,000.

Glenbrooke when fully developed will have about 400 homes.  This many homes at these low prices will certainly contribute to a lower home price average for Prosper.

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