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Housing red flag: Data show increase in cancellations of home purchase agreements versus a year ago

Summary by Boston Herald

By ALEX VEIGA, Associated Press LOS ANGELES (AP) — The latest sign of trouble in the U.S. housing market: A pickup in home purchase agreements falling through before they’re finalized. Some 6% of pending contracts to buy a home were canceled in May, down from 7% in April, but up from 5% in May last year, according to data from National Association of Realtors. May is the third consecutive month with an annual increase in pending home sales cance…

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The West Australian

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u.s. Housing Contract Cancellations Increase: 6% in May Due to Market Uncertainty

The real estate market in the United States continues to show signs of stress.According to the original report, in May, 6% of the outstanding contracts to buy a house were cancelled, a slight improvement compared to 7% in April, but an increase compared to 5% in the same month last year.This is the third consecutive occasion in which there is an annual increase in sales cancellations of pending houses. Redfin analysis reveals record figuresA stu…

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