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Chart of the Day: Real Estate Cancellation Rate

Posted by Samuel A. Kiburz on Feb 2, 2023 1:31:04 PM

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Chart shows a 68% cancel rate in 2022 versus 13% for the same quarter in 2021

Today’s Chart of the Day is a heads up from @Nickgerli1 on Twitter about the current state of home construction. It shows that KB Homes, which is a publicly traded company that delivers 3,500 homes annually, reported a 68% cancel rate of contracts to build homes. This is up from only 13% from the same quarter in 2021. Will this be an opportunity to build a new home for less as the demand waivers? Only time will tell.

Topics: Chart of the Day