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'They’re waiting to see if home prices fall': Home buyers are backing out of contracts in the Sun Belt at a record rate

Por: MarketWatch Business September 26, 2022

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A year ago, only 12.1% of home buyers were backing out of deals. Typically 12% of deals fell through prior to the pandemic, Redfin said. But the last time this number spiked — prior to this fall — was at the onset of the coronavirus pandemic in March/April 2020. Buyers were most likely to back out of deals in the Sun Belt, the company added, in cities such as Phoenix, Tampa, and Las Vegas. Buyers were least likely to back out of purchases in... + full article



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