Is the Real Estate Market Collapsing? Home Buyers Cancelling Contracts in Record Numbers!

Is the real estate market collapsing? Home-purchase agreements are being canceled at an alarming rate, with Redfin reporting that 60,000 home purchases were called off in June 2022 alone. That's a 14% rate that we haven't seen since the spike at the beginning of the pandemic. Home buyers canceling contracts tells several things about the real estate market and where it could be headed. There's uncertainty for sure as inflation rises, interest rates rise and supply chain issues continue to plague the struggling economy. In this video I break down what you need to know about home buyers cancelling contracts at record rates. 0:00 Home Buyers Cancel Contracts 0:36 What is a Cancelled Contract? 2:16 Qualifying Challenges 3:10 More Home Options 3:55 Uncertainty 👋 Jaime Resendiz, 0686451 🏆 Brokered by: eXp Realty, 603392 My Favorites Buyer’s Blueprint - https://thedfwhomeowner.com/home-buying-checklist Seller’s Blueprint - https://thedfwhomeowner.com/home-selling-checklist Connect 🏘️ Home Search: https://jaimeresendiz.exprealty.com/ 📱 Instagram: https://www.instagram.com/jaimersndz/ Real Estate Agents 👩‍💼👨‍💼 We're Hiring Now https://jaimeresendiz.com/partner Disclosures 🔎 Sources: Niche, Wikipedia, TravelTime, Census, Google, NTREIS 😀 Info provided is opinion and for entertainment purposes. 💰 Links shared may be affiliate links to products or services. We may receive a commission, discount or benefit for purchases made through these links. 👉 TREC Information About Brokerages Service https://thedfwhomeowner.com/iabs 👉 TREC Consumer Protection Notice https://thedfwhomeowner.com/consumer #realestatemarket #homebuyers #homesellers Is the Real Estate Market Collapsing? Home Buyers Cancelling Contracts in Record Numbers!