Homebuyers Are Backing Out of Purchases in This Area of the Country More Than Anywhere Else In The U.S.
States in the Sun Belt, which comprises the traditionally sunny southern tier of the U.S., attracted an influx of homebuyers during the pandemic, which ultimately drove up prices and competition. However, the market is shifting, and those once sought-after cities are seeing a significant slowdown. Data from Redfin found that 64,000 home purchase agreements fell…