[NAW TAKE IT BACK] Homebuyers Are Backing Out Of More Deals As Recession Fears Linger

Homebuyers Are Backing Out Of More Deals As Recession Fears Linger. Homebuilder cancellation rates have more than doubled since April, according to surveys by John Burns Real Estate Consulting.

Nationwide, about 63,000 deals on existing homes fell through in July, or about 16% of homes that went under contract that month, according to Redfin. Cancellations were 12.5% in July 2021.

CNBC