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July Cancellations Hit an All-Time High

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Manage episode 501589794 series 2813754
Content provided by BiggerPockets. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by BiggerPockets or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Home sales are falling apart at record levels. Roughly 58,000 purchase agreements were canceled in July, equal to 15.3% of all pending deals—the highest July rate since Redfin began tracking in 2017.

Cancellations were most common in Texas and Florida, where abundant new construction, high insurance costs, and buyer uncertainty are giving would-be homeowners second thoughts. In San Antonio, nearly a quarter of all contracts fell through.

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1797 episodes

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iconShare
 
Manage episode 501589794 series 2813754
Content provided by BiggerPockets. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by BiggerPockets or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Home sales are falling apart at record levels. Roughly 58,000 purchase agreements were canceled in July, equal to 15.3% of all pending deals—the highest July rate since Redfin began tracking in 2017.

Cancellations were most common in Texas and Florida, where abundant new construction, high insurance costs, and buyer uncertainty are giving would-be homeowners second thoughts. In San Antonio, nearly a quarter of all contracts fell through.

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

1797 episodes

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