Monday, July 30, 2007

Is it inefficiency or jitters?

Housing market transactions still lack efficiency

During 2005 and 2006, the average of number of days between notification of sale and exchange was 47 which is already 17% lower than for 2007 to date. The same data also reveals cancellations to be on the rise with well over one in ten instructions being cancelled. This represents a 4% increase since January 2007 and, if this trend continues, the market will be witnessing a 20% cancellation rate by the end of the year.

Posted by converted lurker @ 12:13 PM (566 views)
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