Unlike previous years where the rate proved changeable, the 2012 fall through rate has remained fairly constant from January through to April.
Quick Move Now reported that the house sale fall through rate for April 2012 was 30.32%, so around one in three sales failed to reach completion. Such a high chance of fall through is difficult to manage for a company with an experienced team driving the sale process, let alone for an individual homeowner trying to juggle a chain of buyers.
Once again, the main reason for sales faltering was finance so, in most cases, the seller was at the mercy of their buyer who was, in turn, at the mercy of their mortgage lender.
Donna Houguez, Market Analyst for Quick Move Now, comments:
"The fall through figures remained at approximately 30% for the whole of the first quarter of 2012 and this pattern continued into April. We analysed the trend for January to April over the last six years and found that the 2012 rate has been the most consistent, as shown in the graph below. In previous years, the fall through rate has constantly fluctuated within the first four months and this is particularly evident when studying the rate for 200.
"The fall through rate for January to April in the years 2006-2011 proved changeable whereas, this year, fall through levels have barely altered thus far. It will be interesting to see whether fall through levels deviate from 30% over the coming months or whether this is a longer term stagnation."
