Economists' Outlook

Housing stats and analysis from NAR's research experts.

64 Percent of Contracts Were Settled on Time

In reporting on their last contract that went into settlement or was terminated over the period June–August 2016, respondents indicated that 64 percent of contracts were settled on time, 30 percent had delayed settlement, and six percent were terminated, according to the August 2016 REALTORS® Confidence Index Survey Report.


Among contracts that had a delayed settlement (30 percent), issues related to obtaining financing, appraisal, and home inspection were the primary causes of the delay. The fraction of delays due to appraisals has increased in recent months, in part due to a shortage of appraisers and other issues reported by REALTORS® (e.g., being asked to make “inspections”).[1]


Among contracts that were terminated (six percent), issues related to home inspections, obtaining financing, and appraisals were the major causes of termination.


[1] Danielle Hale, “Concern about Fast-Rising Prices, or Overworked Appraisers?”

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.


Comment Policy

The opinions expressed in reader comments sections on this website are those of the reader and not NAR or REALTOR® Magazine.

About Economists' Outlook

Visit this blog daily to see what NAR experts are saying about the economy, the housing market, and other factors that will impact your business.

Housing Minute

Housing Minute is a monthly video series highlighting the latest housing data from the National Association of REALTORS® in a minute or less.