Quote:
Originally Posted by Normal
Yes, that’s why I included the link for those two sentences. The article is one day old and the source for its author is Redfin. I really don’t ever see MLA format for citations on this forum, lol
Prices dropping and cancelled contracts all indicate the contraction of prices on homes. This coupled with inventory and the prolonged amount of days a typical listing has to be up for a sale indicate a buyers market of course.
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Except the source has been misquoted.
Redfin can't possibly track "buyers getting cold feet", nor track buyer's motivation for cancelling contracts. All they can track is the number of housing units that are marked as "under contract" and how many of those close with the original offeror.
That doesn't mean a buyer got "cold feet". There are a zillion reasons why such things happen, particularly in a slower market, with high interest rates.
Cancellations dropped in Tampa and Orlando.
Why not read the actual Redfin report, instead of posting one that's been slanted and re-hashed by a less than credible source?
Redfin Reports Home Purchases Are Getting Canceled at a Record Rate - Redfin Real Estate News