Homebuilders see alarming surge in new home cancellations

(Disclosure: Rose Law Group represents Richmond American Homes and Taylor Morrison.)

By Angela Gonzales | Phoenix Business Journal

Homebuilders in metro Phoenix face an alarming surge in contract cancellations at a time when economists are pointing to another recession.

Through the middle of July, the cancellation rate was in the 30% range, up from 8-10% in 2020 and 2021, and up from 15% in 2018 and 2019, said Steven Hensley, advisory manager for Zonda housing market research firm.

Read the full subscription story from the Phoenix Business Journal.

Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories