The Deal Is Off: Home Sales Are Getting Canceled at the Highest Rate Since the Start of the Pandemic
Some homebuyers are backing out of deals as a slowing housing market gives them more room to negotiate. Others are being forced to renege on
As a data journalist, Lily is passionate about helping readers understand complex facets of the housing market. She is particularly interested in the issues of climate change, race and gender equality and housing affordability. Prior to working at Redfin, Lily spent four years as a reporter at Bloomberg News in New York City.
Some homebuyers are backing out of deals as a slowing housing market gives them more room to negotiate. Others are being forced to renege on
Purchases of second homes with high flood, storm and/or heat risk surged roughly 40% over the past two years. Many pandemic homebuyers purchased vacation homes,
Surging mortgage rates and home prices are causing more buyers to back off. That means sellers are less likely to receive multiple offers—but they’ll also
Surging borrowing costs and home prices prompted real estate investors to pump the brakes in the first quarter. Many are hoping prices will drop so
The luxury-housing market, which experienced a meteoric surge last year, is coming back down to earth amid a slumping stock market, rising mortgage rates and
The typical high-fire-risk home sold for $550,500 in April, while the typical low-risk home sold for $431,300. That’s the biggest premium since at least 2017.
Some homebuyers are backing out of deals as a slowing housing market gives them more room to negotiate. Others are being forced to renege on
Purchases of second homes with high flood, storm and/or heat risk surged roughly 40% over the past two years. Many pandemic homebuyers purchased vacation homes,
Surging mortgage rates and home prices are causing more buyers to back off. That means sellers are less likely to receive multiple offers—but they’ll also
Surging borrowing costs and home prices prompted real estate investors to pump the brakes in the first quarter. Many are hoping prices will drop so
The luxury-housing market, which experienced a meteoric surge last year, is coming back down to earth amid a slumping stock market, rising mortgage rates and
The typical high-fire-risk home sold for $550,500 in April, while the typical low-risk home sold for $431,300. That’s the biggest premium since at least 2017.