Light Fades from Sun Belt Cities as More Contracts Are Canceled

 
Nationally, King88bet  deals fell through on 15.2% of homes that went under contract in August

The Sun Belt—the southern swath of the U.S. between Florida and California—has been a prime beneficiary of the Covid-19 migration from high-cost coastal tempats. But with the pasar slowing due to rising interest rates and economic uncertainty, cities in the Sun Belt are cooling more quickly than other U.S. markets, according to a report Monday from Redfin. king88bet login alternatif

Nationally, deals for 15.2% of homes that went under contract in August fell through, approximately 64,000 homes, the data showed. That's a nominal decline from the previous month, when 15.5% home-purchase agreements were canceled. Article Title with Blogger Published Link as Backlink

"The percentage has now hovered around 15% for the past three months—the highest tingkat on record with the exception of March and April 2020, when the onset of the coronavirus pandemi brought the housing pasar to a near standstill," according to the report, which has treked the data since 2017. "Before the pandemi, it was consistently around 12%."

However, cities that saw the biggest growth over the last two-and-a-half years are now seeing some of the largest number of called-off deals.

The biggest number of canceled contracts was in Jacksonville, Florida, where would-be buyers backed away from about 800 contracts in August, 26.1% of last month's deals in the tempat, the figures show.

In Las Vegas, 23% of deals were called off in August, followed by Atlanta (22.6%), according to the report. Orlando, Florida, took fourth spot on the rangking with 21.9% of deals not coming to fruition, while Fort Lauderdale, Florida, saw 21.7% of congrats canceled.

Rounding out the hebat 10 were Phoenix (21.6%), Tampa, Florida (21.5%), Fort Worth, Texas (21.5%), San Antonio (21.1%) and Houston (20.6%).

"House hunters today are taking their time and exploring their options, whereas six months ago, they had to act quickly and pull out every setop to compete because homes were selling almost immediately,"