Are builders reducing prices yet?

[Mike Smith]

I am first time home buyer in North texas and my closing is a month away. I am on the fence now worried about recession, job losses and depreciation in near future.

I know it is difficult to predict the future.  Does the current uncertain situation help the buyer to negotiate the price before closing?  I am ok to exit the contract and let go the earnest money if its a wiser decision during this time.  

Do you see the builders in general reducing the prices? My agent gave it a try but the builder seem to be firm.

[Matthew Paul]

@Mike Smith I bought the house i live in in 2006 , I bought a school district and a class A community . I bought out of necessity . I told my wife when we bought that the hefty down payment could be money thrown into the wind if the housing market tanks . It tanked . Lucky for me I bought right , the cheapest house in an expensive neighborhood . My value didnt drop and has gone up since then .  And my 2 boys are in a Blue ribbon middle school and High school . 

I will still be happy if after 20 years I sell this place for what I paid for it . It will have served its purpose . Private school for 2 boys would have cost me $30K a year . ( $6K more than my mortgage )