Here's an update to the "Deals Fallen Through" charts that I posted previous, with Decmeber 2008 numbers. Between September and November 2008, the number of transactions (deals) that buyers walked away in the GTA shot up. However, in December, fewer buyers walked away. I wonder if it was simply due to the festive season or perhaps there were fewer speculators, since those who have to go through with a purchase in this environment must have to buy for whatever reason.
For the first half of January 2009, the number of deals that have fallen through so far is 29.
The first chart shows the trend in the number of deals that have fallen through for the past two years.
The second chart shows the number of deals buyers walked away from, as a percentage of sales.