“Sorry….we’ve changed our mind”
Diana Heeb Bivona
Those seem to be the words being spoken by many buyers around the country who are scrambling to get out of their real estate contracts. At a recent housing forecast conference in Washington, D.C., economists reported that contract-cancellation rates for big builders were approximately 40%. That’s twice as high as last year’s levels. Additionally, real-estate agents are seeing similiar event occurring in existing-home sales.
The RealEstateJournal/Wall Street Journal explores this recent phenomenon and what factors are motiviating potential buyers to jump ship. To read, Home Buyers Back Out Of Deals in Record Numbers by June Fletcher & Ruth Simon, click here.
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