The housing market continues to face headwinds—and now, an increasing number of homebuyers are backing out of deals.
According to the National Association of Realtors and Redfin, pending home sales cancellations rose again in May, with economic uncertainty, mortgage rates, and affordability pressures all playing a role. Experts say everything from fluctuating stock markets to low appraisals are causing buyers to walk away—even after signing a contract.
Read more in this AP article by Alex Veiga:Housing red flag: Data show increase in cancellations of home purchase agreements versus a year ago
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