Contract Success Rate on the rise

After a slight dip in 2014, the Contract Success Rate rose to 96% in 2015.  That means that nearly all contracts that are signed by buyer and seller make it to closing.  This may be a result of more reasonable lender underwriting requirements, or more prepared buyers, or buyers and sellers being more rational when negotiating the speed bumps between contract and closing.  Regardless, it is good news for anyone who has a house going under contract -- it is more likely to go to closing than it was a year or two ago.