Home sales contracts are falling through at twice the rate of last year, according to new figures released by the National Association of Realtors at its annual convention in Anaheim, Calif.

The Realtor group said 18% of its members reported contract failures in recent months, which is double the level of a year ago. The two main reasons: Prospective buyers' applications for credit are being declined, and appraisals are coming in below the agreed-upon price.

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