Reported about 14 hours ago
Recent data indicates a rise in canceled home purchase agreements in the U.S., with 6% of pending contracts in May being canceled, up from 5% a year prior. This marks the third consecutive month of annual increases. Contributing factors include unexpected costs, credit issues, and broader economic uncertainties. Despite a slight uptick in pending home sales, the housing market continues to experience a slump, challenging potential buyers with elevated mortgage rates and prices.
Source: YAHOO