57,000 Canceled Home Sales In June

Obviously, the numbers need to be in your favor in order to move forward on a real estate deal. However, I continue to point out to my valued clients, students, and connections that it takes even more than the numbers to make a deal worthwhile or to take a pass.

 

The "If you build it, they will come" theory of marketing is taking a hit within the real estate community these days. These days it is about more than economics, as market conditions, political trends, rising costs, and job uncertainty are clearly taking a toll on the real estate community. A lot can happen before a transaction gets to the closing table, including an increase of instances where it does not make it to closing.

 

I continue to see and hear buyers, sellers, brokers, developers, and lenders tell me of their plans for "as soon as (property) closes". Many seem stunned when I ask, "What will you do if it does not close?"

 

For the month of June (the most current research available as of this writing in late July), we saw another increase of pending residential transactions "falling through". Per the below linked report, it was the most ever "falling through" of properties ever in the month of June. With school starting in August in many more locations, June is a crucial month for moving and getting settled for the coming school year. Seeing that 57,000 pending home sales were canceled within a 30 day period should be cause for concern for real estate professionals and investors.

 

We don't know whether or not this trend will continue or reduce. What I know is that the need for contingency plans is on the rise. Looking for backup offers, continuing to bid and make offers, and pursuing additional opportunities should be a part of your plan, no matter how close you get to a closing date.

 

Moving to the next step in your prepared plan is more effective than having to go all the way back to the drawing board. Connect with me, and let's get a solid plan of action in place.

 

https://www.redfin.com/news/pending-sales-fall-through-june-2025/