Over the past year, neighborhoods in Prospect, Kentucky have been affected in a variety of ways by changes in the real estate market. Driving these changes are three primary factors — low mortgage interest rates, high inventory and a limited number of qualified buyers. There remains in the area a perception that we are operating in a “buyer’s market,” however it is more complex than that simple description and it is critical that home buyers and sellers both understand the challenges that they face in the area where they plan to buy.
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