This week on The Real Word, Byron Lazine and Nicole White discuss homebuyers canceling deals, the study showing this year to be the most expensive year to move (ever), and two BAM podcasts – including this one – being finalists for the 2022 Inman Innovator Awards. 

60,000 home buyer contracts canceled in June

In June, according to a new report from Redfin, homebuyer cancellations were at 14.9% of all homes under contract. For context, they were at about 11% a year ago. This is the highest share we’ve seen since early 2020, at the start of the COVID pandemic. 

Part of that is due to the drop in demand, with buyers considering more homes and choosing to have inspections done. Another factor is the interest-rate sticker shock; the higher rates have even caused some home shoppers to no longer qualify for the loans they want. 

Byron and Nicole give their two cents on what can agents do to address this; do you agree? 

It’s the most expensive year to move – ever

Next up is an article on REALTOR® Magazine, “Study: It’s the Most Expensive Year to Move Ever,” documenting the growing cost of moving, especially for those who choose to pay movers to help with the labor involved. 

In the current market, with buyers taking more time to consider their options, it makes sense for realtors to get in touch with businesses in the area that help with moving – from U-Haul rental places to professional movers – so they can help buyers and sellers with the inevitable hassle of moving, and maybe even save them some money. 

The Inman Innovator Awards 2022

Yesterday, we received two emails from Katie Gaudu, the VP of Industry Management at Inman letting us know that two BAM podcasts – The Real Word and Over Ask – are finalists for the 2022 Inman Innovator Awards

This exciting news makes us two-time nominees. In 2019, we were nominated for an Inman Innovator Award, and we made the top three. It’s an honor this year to see that two of the seven finalists in the video/podcast category are BAM podcasts.  

A big thank you to our viewers, listeners, readers, and all who subscribe to and support our content. 

Watch the full episode for more. 

The Real Word is brought to you every week by Tomo. Tomo Lock & Shop lets you lock in your interest rate for up to 120 days while you find a home. If rates fall, you can lower your rate via a one-time float down.