DMN: Homebuilders face threat of buyer cancellations
Dallas builder Carl Anderson of Larkspur Capital said so far the fallout rate has been manageable.
“From what I’m seeing, there are some contracts on higher-end product of over $1 million or so that are getting extended while mid-tier price point product of around $300,000 to $400,000 is generally closing per the contract date,” Anderson said. “There certainly have been some contract terminations due to buyer uneasiness about the economy and fear of job loss, but we’re not seeing a huge spike at this point.”
Anderson said he just sold a new townhouse in Oak Cliff before it was built.
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