Homebuyers Are Backing Out at the Highest Rate Ever Recorded
Posted by Judy Orr on
Getting Under Contract Used to Feel Like the Finish Line. Not Anymore
Something genuinely interesting is happening in the housing market right now, and if you're thinking about selling your home, this is exactly the kind of thing you need to understand before you put up that for sale sign.
Back in the not-so-distant past, getting a buyer to sign a purchase agreement felt like you had basically won. Pop the champagne, start packing boxes, call the moving company. The hard part was over. But that's just not the reality anymore, and the numbers tell a pretty striking story about how much things have changed.
In December alone, roughly 40,000 home purchase agreements across the United States were canceled before ever making it to the closing…
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