Homebuyers are increasingly leveraging the power of a slowing market to say: “No deal.” About 63,000 people backed out of homebuying contracts in July, according to real estate service Redfin. That figure represents approximately 16% of the homes that were under contract for sale that month and is the highest rate since April 2020 at the beginning of the COVID-19 pandemic. Redfin notes that homes...
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