Nationwide, the percentage of homes that go into contract and then revert back to being for sale is increasing. Trulia has labeled this situation a “sale fail” and tracks instances of sale fail occurrences throughout the United States. Sale fails have been increasing across the board, with 2015 showing a national average of 2.1%, and 2016 suffering a staggering increase to 3.9%.
However, while Honolulu ranked 41st in 2015 for U.S. metro cities least likely to have home sales fall through, in 2016, Honolulu jumped to 7th least likely U.S. metro city to experience sale fails. There was a 0.5% reduction in sale fails in Honolulu from 2015 to 2016, which was the largest reduction nationwide.
|Cities Where Home Sales Are Least Likely To Fail|
|US Metro||Percentage of Sale Fails, 2015||Percentage of Sale Fails, 2016||Percentage Point Change, 2016 to 2015|
|Long Island, NY||0.3%||0.5%||0.3%|
|Virginia Beach-Norfolk, VA||0.5%||0.6%||0.1%|
|San Antonio, TX||0.5%||0.7%||0.2%|
|Oklahoma City, OK||1.4%||1.1%||-0.4%|
Sue Weaver, Marketing Outreach Lead, Trulia, current as of January 2017
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