Philadelphia Real Estate Market Data June Fall Through Chart

Philadelphia Real Estate Market Data – YTD Fall Through Chart.

Here’s a summary of why Philadelphia real estate transactions are not proceeding to settlement.  All data compiled and provided compliments of Prudential Fox & Roach, Realtors.

• 38% of all contract cancellations occur as a result of the buyer’s inspection
•  22% of all contract cancellations occur because the buyer terminated for an unspecified reason.
• 15% of cancellations occur because of a mortgage related issue.  It is important to note that Trident mortgage has had ZERO contracts cancelled b/c of mortgage issues.  Their pre-approval process is rigorous and if they pre-approve a buyer that person makes it to settlement plain and simple.  I personally use Jason Greisser for all of my real estate purchases and his contact info is below.
• The three items mentioned above, inspections, buyer back outs, and mortgage issues represent 75% of all contract cancellations in Philadelphia.

Jason F. Griesser, CMB