Buyers are backing out of contracts, prompting sellers to up incentives, according to a new report.
Prospective buyers are increasingly backing out of deals, with 63,000 agreements being called off in July, according to a new report from Redfin. The canceled agreements represent 16.1% of all the homes that went under contract in July.
“About 80% of the seller contracts I have right now, they’re paying for at least $5,000 to $10,000 in closing costs for the buyers, because the buyers requested that to lower their interest rates,” Andrew Vallejo, an Austin, Texas-based Redfin agent, told MarketWatch. Jacksonville was followed by Las Vegas, Nev., Lakeland, Fla., New Orleans, La., and San Antonio, Texas.
Given the increasing options buyers are seeing on the market, sellers’ reluctance to cover repainting costs, or roof repairs, are becoming non-negotiables, Alexis Malin, another Jacksonville-based Redfin agent, told the site. Reffkin said the company is prepared for the real-estate market to be 25% below where industry experts believed it would be six months ago.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
WTI Crude Oil Forecast: Market Crashes But Finds BuyersThe West Texas Intermediate Crude Oil market fell rather hard during the early hours on Monday, crashing into the previous support level of around $87.
Baca lebih lajut »
VinFast To Give Buyers $7,500 Discount If Federal Tax Credit DeniedVinFast buyers who are denied the tax credit even though they signed a binding contract with the automaker will automatically qualify for the $7,500 discount.
Baca lebih lajut »
Over 300,000 BTC Now Owned by Bitcoin Buyers Who Bought at Recent Lows: Glassnode ReportBitcoin buyers who stepped in at the lows now own over 300,000 BTC Crypto
Baca lebih lajut »
The best Samsung Galaxy Watch 5 watch bands | Digital TrendsWith the introduction of the Galaxy Watch 5, prospective buyers are looking for new bands to outfit the upcoming smartwatch with.
Baca lebih lajut »
If companycar tax has got you feeling like Bart here, then know that it doesn't have to be this way – our free company car tax calculator is here to help! 👉
Baca lebih lajut »
Housing market recession? It's here, homebuilders sayAbout 1 in 5 home builders reported cutting prices over the last month to increase sales or limit cancellations, according to a National Association of Home Builders Association's survey.
Baca lebih lajut »