A significant number of buyers are backing out of real estate deals in part because of rising borrowing rates, which are inching closer to 8%. They are currently hovering around 7.63%.
Fifty-three thousand real estate deals were canceled last month — the highest rate in nearly a year — as rising borrowing rates continue to scare off buyers, Redfin reported. In September, 16.3% of home purchase agreements in the U.S. were canceled, according to the technology-powered real estate brokerage. That marks the highest percentage of canceled contracts since October 2022, when borrowing rates surpassed 7% for the first time in two decades.
It's up from the 15.2% of purchase agreements that fell through in August and the 15.8% of agreements that fell through a year earlier, according to the data. While pending home sales have ticked up, the number of closing sales have slumped to significant degree compared to a year earlier. In September, the number homes going under contract rose 1.3% month over month, reaching its highest level in nearly a year on a seasonally adjusted basis. A year earlier, pending sales were down 12.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Collin Morikawa ends drought by winning in Japan. Minjee Lee takes LPGA title in South KoreaINZAI CITY, Japan (AP) — Collin Morikawa ended nearly two years without a win when he closed with a 7-under 63 for a six-shot victory Sunday in the Zozo Championship.
Weiterlesen »
Collin Morikawa wins Zozo Championship in Japan for first PGA Tour title in more than two yearsAmerican Collin Morikawa broke through Sunday with a 7-under par 63 for a six-shot Zozo Championship victory at the Narashino Country Club just outside Tokyo.
Weiterlesen »
House speaker fight: The real reason why Kevin McCarthy still hasn’t been replacedFormer House Speaker Kevin McCarthy was ousted from his role more than two weeks ago. So why haven't Republicans been able to replace him? Here's the startling truth.
Weiterlesen »
N.J. home prices expected to keep rising in latest real estate forecastNationwide, home values are expected to increase by 1.3%, Zillow data showed. See the forecast for 547 ZIP codes in New Jersey.
Weiterlesen »
Real Housewives of Salt Lake CityAdding to the slate of shows in the franchise, The Real Housewives of Salt Lake City is a reality-drama series that chronicles the daily lives of affluent women in the Salt Lake City area. The show focuses on the mundane and dramatic moments in the women's lives, which continue to unfold over several seasons.
Weiterlesen »
Is Camp Crystal Lake a Real Place?The Friday the 13th franchise's notorious Camp Crystal Lake isn't actually just a movie set, it's a real place you can visit!
Weiterlesen »