Homebuyer Contract Cancellation Rate Up!
As the housing market shows signs of slowing, homebuyers are becoming more cautious. In June 2022, 14.9% or 60,000 home-purchase agreements fell through according to the analysis from real estate brokerage Redfin. By comparison 3.9% of contracts fell through in 2016 and 11.2% in June 2021.
Source: https://moguldom.com/415351/redfin-u-s-homebuyers-cancelled-60000-contracts-in-june-highest-since-pandemic-started/