Canceled Home Sales in July 2022 - Michael Friedman Realtor eXp Realty


 August 30, 2022

Canceled Home Sales

Reach Out Anytime

Yahoo!Money recently published an article titled, “Housing Expert : ‘This Might Be The Worst Time You Could Buy’” 

 The expert was referencing the increased mortgage rates, which has impacted home affordability.

The article referenced 63,000 home-purchase agreements being canceled in July 2022 or about 16% of the homes that went under contract at that time.

The increase in prices and the rise in mortgage rates have made home buyers skittish and caused some of the backing out of deals. 

I counsel my home selling customers that cash offers are not directly affected by mortgage rates. 

Home sellers may want to consider giving in a bit in the negotiations when dealing with all cash buyers as the housing market sentiment begins to shift. 

If you or someone you know can use some help, you can contact me anytime for anything real estate. 

To research and search for homes CLICK HERE

Check out my Youtube Channel MikeInBoca CLICK HERE


Michael Friedman

Broker-Associate, Realtor

eXp Realty

561-247-3550

Facebook: MikeInBocaRaton

Instagram: MikeInBoca

Website: MikeInBoca.com

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