A house that I am potentially interested was noted as "pending" on Realtor.com and in other real estate sites/apps for several weeks. It is now on the market as an active listing. When my agent asked why the house had fallen out of escrow, the seller's agent said it had not been in escrow but had just been taken briefly off the market for some "repairs."
This is an investor-owned flip that, prior to the "pending" designation, had been on the market for a fairly long time. Would there be any reason for the agent to lie about this?
Alternatively, would there be any reason for a seller to change the designation on a listing to "pending" -- say, to generate competitive interest or something?
And relatedly, what percentage of listings marked "pending" eventually go back into active status (because they fall out of escrow or other reason)?
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