This was an interesting question from one of my clients --- relative to whether we should take the time to go look at a property that is currently under contract. Their perspective was that if quite a few contracts fall through, it could be worthwhile to go look at an under contract property -- but if most stay together, then maybe not.
As it turns out, most homes stay under contract if they go under contract.
In 2009, 818 homes went under contract. Only 77 homes came back from being under contract.
This contract success rate is a bit lower than past years, but much better than 2006!- 2006: 998 homes went under contract, 120 contracts fell through --- an 88% success rate.
- 2007: 1,118 homes went under contract, 79 contracts fell through --- a 93% success rate.
- 2008: 882 homes went under contract, 70 contracts fell through --- a 92% success rate.
- 2009: 741 homes went under contract, 77 contracts fell through --- a 91% success rate.
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