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Benzinga

Business

Mark Gilman

Unprecedented Numbers Of Residential Homebuyers Bailing On Offers

Taylor Marr Interest Rates Pandemic

A combination of rising interest rates and picky buyers contributed to nearly 60,000 home-purchase agreements falling through in June.

The total represents 14.9% of homes that went under contract that month and is the highest percentage of homebuyers bailing contracts on record, excluding March and April 2020 at the peak of the pandemic.

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