Sweden Home Buyers Cancel New House Deals at Record Pace
- Almost 2 out of 3 bookings for new-build homes are nixed: SBAB
- Cancellations may indicate further drop in building activity
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Swedes are increasingly pulling out of reservations to buy new-build homes as the housing market has cooled rapidly and demand for new developments dwindles.
About 65% of contracts for planned new dwellings were canceled in the past six months by buyers choosing to take the cost rather than follow through on purchases in a slumping market, according to data published by state-owned lender SBAB on Friday. That’s the highest share since at least 2014.