Trulia’s data only go back two years, so they don’t indicate what rate is historically normal. Lyle Elliott, branch manager for Berkshire Hathaway HomeServices office in Ventura, Calif., didn’t think his metropolitan area’s fail rate of 11.6 percent was particularly surprising. “We’ve had a robust year,” he said. “When you have more sales, you also have more sales that don’t complete.”
This article was provided by Bloomberg News.