69 °f
Los Angeles
Find the best California real estate agents and their listings for sale here, plus leading industry intel                                   
Friday, September 22, 2023
California Listings
  • HOME
  • DAILY CONTENT
    • NEWS
    • DATA
    • CELEBRITY
    • LISTING OF THE DAY
    • WATCH NOW
  • LISTINGS
  • AGENTS
  • NEWSLETTER
  • MAGAZINE
  • SHOP
  • ADVERTISE
No Result
View All Result
SoCal
NorCal
California Listings
No Result
View All Result

One Out Of Every 36 Pending Sales Fell Through In August

September 20, 2022
Reading Time: 2 mins read
40
SHARES
161
VIEWS
Share on FacebookShare on Twitter

Affordability challenges continue to impact buyers as evident in a rising contract cancellation rate.

According to Zillow, the share of contract cancellations increased in August to 2.8 percent, but remains in line with pre-pandemic norms. Put another way, one out of every 36 pending sales fell through last month, compared to about one in every 50 at the beginning of the year, and one out of every 45 at the end of last August. 

A greater share of lower priced homes have fallen out of contract than higher priced homes nationally, reflecting affordability challenges as mortgage rates have risen. 

  • Cooldown 06df44 1024x878

Sunbelt cities continue to fell the market cooldown at higher rates as evident by their higher cancellation rates. The only California cities to make the list of highest cancel rates were Sacramento, Los Angeles and Riverside, though all three posted rates below the national average.

Tags: august 2022cancel ratecancellationscancelled salesdatalos angelesnewsriversidesacramentosun beltzillow
Next Post
Jeg Empty

Santa Barbara Sees Sales And Prices Rise In August Numbers

  • ABOUT
  • CONTACT US
  • ADVERTISE
  • PRIVACY
Call us: (310) 270-8124

[Valid RSS]© 2023 California Listings, Inc.

No Result
View All Result
  • HOME
  • DAILY CONTENT
    • NEWS
    • DATA
    • CELEBRITY
    • LISTING OF THE DAY
    • WATCH NOW
  • LISTINGS
  • AGENTS
  • NEWSLETTER
  • MAGAZINE
  • NORCAL
  • SHOP
  • ABOUT
  • CONTACT
  • ADVERTISE
  • PRIVACY

[Valid RSS]© 2023 California Listings, Inc.