Reported 2 days ago
An increasing percentage of homebuyers are backing out of purchase agreements, with cancellations rising from 11% in 2021 to 15% recently, according to Redfin data. This shift is largely attributed to buyers having more negotiating power in a changing market, leading many to walk away over issues like inspection and repairs. Meanwhile, sellers are hesitant to lower their prices, often choosing to stay in their homes rather than accepting lower offers.
Source: YAHOO