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(WTAJ) – As the market continues to turn, you have to wonder how much will be too much for buyers and when will the cost of buying plus inflation be a reason to not buy.
According to a new report from brokerage Redfin, around 60,000 home-purchase agreements in the U.S. fell through last month.
That equates to 14.9% of all homes that went under contract in June.
To put things in perspective, cancellations were at 12.7% in May 2022 and 11.2% in June 2021.
In fact, 14.9% was the highest cancellation rate since early 2020, when the COVID-19 outbreak brought real estate transactions to a near dead stop.
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