Real Estate

Why Did 60K Homebuyers Cancel In June? The Real Word

This week, Byron Lazine and Nicole White discuss buyer cancellations, outrageous moving costs and the Marketeer.

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Byron Lazine and Nicole White are two agents in Connecticut who give us their thoughts on the week’s news every Friday in “The Real Word,” a weekly video column on Inman.

Byron Lazine and Nicole White began this week’s episode by discussing the news that homebuyers are canceling deals in numbers not seen since the start of the pandemic, according to a study by Redfin. Part of the reason for this, according to Lazine and White, is that over the last couple of years contingencies were considered dealbreakers in many markets, while now buyers are having inspections again.

White also believes that locking into higher interest rates is creating “sticker shock” as buyers realize they can no longer afford the home they want.

Next, they discussed a study that says this was the most expensive year to move ever. A combination of inflation, gas prices and supply chain disruptions is causing moving costs to balloon.

Marketeer of the Week

This week’s Marketeer is Inman’s announcement of finalists for the 2022 Inman Innovator Awards. Lazine and White have been nominated in the Video/Podcast category for the second time.

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