Home purchases are getting canceled at a record rate: Redfin

[DCPatriot]

https://thehill.com/business/5466569-home-purchases-cancellations-redfin/

Home purchases are getting canceled at a record rate: Redfin

Andrew Dorn

* More than 15% of home purchases fell through last month: Redfin
* In total, roughly 58K US home purchase agreements were canceled
* Cancellations were most common in Texas and Florida

Home sales are falling through at the highest rate in years, as record prices, elevated mortgage rates and economic uncertainty lead more buyers to walk away.

More than 15 percent of home purchases fell through last month, the highest July rate in records dating back to 2017, according to a new Redfin analysis.

Those failed sales amounted to roughly 58,000 canceled U.S. home purchase agreements last month, equal to about 15.3 percent of homes that went under contract in July. That’s up from 14.5 percent a year ago and 12 percent before the pandemic.

Cancellations were most common in Texas and Florida, which are currently home to some of the slowest housing markets in the country.

San Antonio led the nation, with July cancellations equal to 22.7 percent of homes that went under contract during the month. Fort Lauderdale, Fla. (21.3 percent), Jacksonville, Fla. (19.9 percent) and Atlanta (19.7 percent) also made the top five.

continued at above link

[DCPatriot]

For obvious reasons, THE HILL is not telling us that the reason "Contracts" are being voided...ILLEGAL IMMIGRANT BUYERS.

They're terrified that they will forfeit all the equity and protection of homeownership.

[DCPatriot]

https://archive.is/FOBat

‘It’s like one day everyone left’: How immigration crackdowns are reshaping America
By
Catherine E. Shoichet
Isa Cardona
David Culver
Ione Molinares Danny Freeman
Uriel Blanco

A mom in Texas feels it’s no longer safe to walk her kids to school.

A grocery store in Virginia lost the butchers at its meat counter.

At a cherry orchard in Oregon, unpicked berries are rotting in the sun.

And at a mall in Georgia once packed with shoppers, a jewelry seller sighs on a recent summer afternoon as she surveys the desolate scene.

“It’s like one day everyone left in a puff of air,” Maria López says.

Daily life is changing in many communities across the US as President Donald Trump and his administration step up their immigration crackdowns. Officials vow they’ll carry out the largest deportation operation in American history, put more undocumented immigrants behind bars and eliminate abuse in the immigration system.

Just over seven months in, it’s too soon to say whether they’ll hit all the targets they’ve set. But their messaging as Immigration and Customs Enforcement gets a massive infusion into its budget couldn’t be clearer: This is only the beginning.

continued at above link...

[LMAO]

For obvious reasons, THE HILL is not telling us that the reason "Contracts" are being voided...ILLEGAL IMMIGRANT BUYERS.

They're terrified that they will forfeit all the equity and protection of homeownership.

Lol….

Nope