Dave:
More buyers are canceling their contracts right now, which is a little bit scary for sellers, but presents a big opportunity for buyers. Moody’s Analytics just released their long range housing price forecast and we’ve got frauds on the rise in real estate that you need to keep an eye out for this and more on today’s episode of On the Market. Hey everyone, welcome to On the Market. I’m Dave Meyer. Joined today by Kathy Fettke, Henry Washington and James Dainard back together after all being together in person at BP. K. It was so nice to see all of you, Kathy. I recorded last week, but I gave you credit for starting a 2000 person dance party by yourself at the club the last night in Vegas, so thank you for doing that. It really ended the conference in a bang.
Kathy:
Oh my gosh, I had the best time ever and I just was sad the next day when it was all over and I missed you guys. It
Dave:
Was good. Well, it was a great time, so it was great to see you all in person and hope to see more of them on the market community in person at the next BiggerPockets event, whether it’s BP Con or one of these small local events that we’re talking more about doing in the near future. Today we’re going through headlines. We’re going to talk about buyers canceling deals. We’ll talk about the long-term. I’m talking 10 year forecast for the housing market. A couple of instances of fraud that investors need to look out for and more. Let’s jump into it. James, start us off. What do you got for us?
James:
Alright, my news article cancellation rates hits record high in 2025, 56,000 US purchase agreements were canceled, which are 15.1% of the homes that went under contract, so people are bailing off of their deals and the rate before in 2024, I was at 14.3%, so we’re really only up 1%, but we are seeing as someone that’s in the market doing a lot of deals right now, there is a ton of deals getting canceled and I think this is really important for all investors…