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Stock impact report

More Than 50,000 Home-Purchase Contracts Fell Through in March

Rocket Companies, Inc. Class A (RKT) 
Company Research Source: Business Wire
Redfin reports 13.4% of home-sale agreements that went under contract in March were canceled. House hunters are getting cold feet as costs stay high and economic uncertainty is in the air.Contract cancellations are most common in big-time buyer’s markets like San Antonio and Orlando, where home searchers have a lot of options.They’re least common in Nassau County, Montgomery County and Milwaukee—three of just five seller’s markets in the U.S. SEATTLE--(BUSINESS WIRE)--Nearly 53,000 U.S. home-sale agreements fell through in March, according to a new report from Redfin, the real estate brokerage powered by Rocket.That’s equal to 13.4% of homes that went under contract that month—up from 12.5% a year earlier—and tied with 2023 as the highest March share on record aside from 2020, when the uncertainty surrounding the start of the pandemic caused many buyers to back out of deals.This is based on a Redfin analysis of MLS pending-sales data. The data is seasonal; typically, there’s a high Show less Read more
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