s/pmarcaHOUSING MARKET•Oct 13
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14.5% of U.S. home-purchase agreements fell through in September
Homebuyers canceled 14.5% of U.S. purchase agreements in September, the highest rate ever recorded for that month. The increase came as mortgage rates and home prices kept demand under pressure, even though existing-home sales rose 1.5% from August.
That monthly gain still left sales down 2.2% from a year earlier, with the median price at $417,500. Sellers outnumbered buyers by roughly 63% in September, the widest gap on record.
That monthly gain still left sales down 2.2% from a year earlier, with the median price at $417,500. Sellers outnumbered buyers by roughly 63% in September, the widest gap on record.
Timeline2
Oct 13
September cancellation data showed 14.5% of contracted home purchases falling through, a record for the month.
Oct 13
September existing-home sales data showed a 1.5% monthly increase but a 2.2% annual decline.
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Oct 13