Home Deals Collapse: Record Cancellations in February
Salt Lake City News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Home deals falling through reach record high, with over 42,000 purchase agreements canceled in February, marking the worst February since 2017. Buyers market in many areas, but economic worries and global tensions cause buyers to back out, leading to increased mortgage rates and cancellations. Southern cities hit hardest, while San Francisco remains relatively stable. This trend suggests buyers waiting for rates and world situation to improve, leaving more homes on the market as spring buying season begins.
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