Jacksonville Real Estate Market

Jacksonville, Florida

Realtors Report Even Higher Cancellations; And It’s Not Why You Think

For the past several months, Realtors across the nation have been reporting an ever-increasing number of cancelled existing home sale contracts. The latest Realtors Confidence Index now puts the cancellation rate at 20 percent, way up from the historic…

Cancellations Plague Pending Home Sales

At first glance it seems like a huge and hopeful headline: Pending home sales, based on contracts signed, rose 10.4 percent in October from September. It certainly gives the impression that buyers are hopping off the fence and into the market. Well, le…

Home Sales Fall on Credit, Cancellations, Confidence

July’s existing home sales came in well below expectations. While analysts called for an increase, based on several months of rising pending home sales (contracts signed), they did not give enough weight to the three biggest issues plaguing the market,…

Home Sales Contracts Rise, But Cancellations Run High

The chief economist at the National Association of Realtors said he was baffled by it, but ask any agent working the nation’s neighborhoods, and they’ll tell you it is all about confidence and financing—specifically, a lack of both.

Cancellations Roil Realtors

Forecasters expected sales of existing homes to rise in June because the pending home sales index, which measures signed contracts, rose in May. If you consider it takes 1-2 months to close, then there’s your indicator. But that was not the case.

Oil and Real Estate: Fannie Mae to the Rescue

As I continue my week here on the Gulf Coast of Florida, I hear more and more real and anecdotal stories of contract cancellations for new home purchases and second homeowners walking away. There is no question that while oil has barely brushed the bea…

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