Nearly 18% of pending home sales nationwide were canceled in October, the most since 2013. High inflation and mortgage rates have kept buyers at bay, even as the market begins to cool. Developers are turning to build-to-rent buyers to offload new supply as demand wanes.
Mentioned Faculty
Tomasz Piskorski
Tomasz Piskorski is the Edward S. Gordon Professor of Real Estate in the Finance Division at Columbia Business School. He is also a Research Associate at the National Bureau of Economic Research and serves on the Academic Research Council of the Housing Finance Policy Center at the Urban Institute. Professor Piskorski earned a M.S. in Mathematics from New York University Courant Institute of Mathematical Sciences and a Ph.D. in Economics from New York University Stern School of Business.