A recent report from Redfin says home purchases in June fell through at the highest rate on record, as higher housing costs give buyers cold feet. They report that 56k home-purchase agreements were canceled in June, equal to 14.9% of homes that went under contract that month. In addition they report that the median home sale price rose 4% year over year to a record $442,525 in June, and the average interest rate on a 30-year mortgage was 6.92%.
Click here to read the full report at Redfin.com.
