Aborted Sales at 30% For May
The Quick Move FTI continues to fall as the housing market stutters into life.
We have gone through one of the fastest and deepest property declines in history. With prices falling so rapidly and mortgages difficult or impossible to secure many buyers/sellers were scared off and put their move plans on hold.
With a slight easing of mortgage availability and buyers who now need to move (work relocation, increasing family size etc.) we are seeing a few more potential buyers. However due to the market many sellers took their property off the market leading a slight lack of supply.
With less choice it means that buyers are less likely change their mind and/or swap properties reducing aborted house sales. While there is a disparity in demand and supply we would expect fewer aborted sales.
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