{"id":877888,"date":"2025-08-21T10:06:09","date_gmt":"2025-08-21T14:06:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-home-purchases-are-getting-canceled-at-a-record-rate\/"},"modified":"2025-08-21T10:06:09","modified_gmt":"2025-08-21T14:06:09","slug":"redfin-reports-home-purchases-are-getting-canceled-at-a-record-rate","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-home-purchases-are-getting-canceled-at-a-record-rate\/","title":{"rendered":"Redfin Reports Home Purchases Are Getting Canceled at a Record Rate"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Redfin Reports Home Purchases Are Getting Canceled at a Record Rate<\/b><\/p>\n<p class=\"bwalignc\"><i>15% of home purchases fell through last month\u2014the highest July rate on record\u2014as high homebuying costs made buyers skittish. Cancellations were most common in Texas and Florida.<\/i><\/p>\n<p>SEATTLE&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nRoughly 58,000 U.S. home-purchase agreements were canceled in July, equal to 15.3% of homes that went under contract last month, according to a new <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhome-purchase-cancellations-july-2025&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=r&amp;index=1&amp;md5=1bc23ab818a07e66341668b56f407f5f\">r<\/a><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhome-purchase-cancellations-july-2025&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=epo&amp;index=2&amp;md5=e82368143f5428b2ebc148ca0459af96\">epo<\/a><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhome-purchase-cancellations-july-2025&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=r&amp;index=3&amp;md5=c286af26f8d0e85f47bb19fc4a7389e5\">r<\/a><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhome-purchase-cancellations-july-2025&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=t&amp;index=4&amp;md5=f25e1507734a12c2f8db9c579cac9868\">t<\/a> from <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2F&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Redfin&amp;index=5&amp;md5=6eeeac75db21651099d3d0b705bb50e4\">Redfin<\/a>, the real estate brokerage powered by Rocket. That\u2019s up from 14.5% a year earlier and marks the highest July rate in records dating back to 2017.<\/p>\n<p>\nThis is based on a Redfin analysis of MLS pending-sales data. The data are seasonal, which is why Redfin compares this July to past Julys. Please note that homes that fell out of contract during a given month didn\u2019t necessarily go under contract the same month.<\/p>\n<p>\nHome purchases are falling through more than usual because high prices, high mortgage rates and economic uncertainty are making buyers uneasy. Buyers also have more homes to choose from than in the past, which means they <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fsellers-vs-buyers-price-impact%2F&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=hold&amp;index=6&amp;md5=f6dd4eccee657cee4cc416819909f968\">hold<\/a> the negotiating power in many markets and often aren\u2019t in a rush. They may back out during the inspection period if a better home comes up for sale or they discover an issue they don\u2019t want to fix.<\/p>\n<p>\nCleveland <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fpremier&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Redfin+Premier&amp;index=7&amp;md5=37d8aed9f44aa1b3a6bac29c4bb9f127\">Redfin Premier<\/a> real estate agent <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Freal-estate-agents%2Fbonnie-phillips&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Bonnie+Phillips&amp;index=8&amp;md5=61d834de4ede63de10311ac65ed291f8\">Bonnie Phillips<\/a> said the most common reasons buyers back out of deals are cold feet, high standards and issues with inspections, and she noted that cancellations are particularly common among buyers who use <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fblog%2Ftypes-of-loans-for-first-time-buyers%2F&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=FHA+and+VA&amp;index=9&amp;md5=40fcad90ac5c973a5508c3bc0fd07801\">FHA and VA<\/a> loans. But some would-be buyers have other reasons for backing out:<\/p>\n<p>\n\u201cI recently had an older first-time buyer get cold feet the week before the deal was supposed to close,\u201d Phillips said. \u201cIt was a beautiful house, we got it for the price she wanted and there were no issues in the inspection, but her neighbors convinced her that owning is too much of a hassle and she should rent instead.\u201d<\/p>\n<p>\nIt\u2019s worth noting that the housing-market tides are starting to shift slightly. Mortgage rates have been coming down, which could bring some sidelined buyers back to the market, and supply is also ticking down, which could increase buyer urgency.<\/p>\n<p><b>Home Purchases Are Most Likely to Fall Through in Texas and Florida<\/b><\/p>\n<p>\nIn <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F16657%2FTX%2FSan-Antonio&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=San+Antonio&amp;index=10&amp;md5=c2f4645951c91819696f8a23bab654a6\">San Antonio<\/a>, 730 home-purchase agreements were canceled in July, equal to 22.7% of homes that went under contract last month\u2014the highest percentage among the metros Redfin analyzed. Next came <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F6173%2FFL%2FFort-Lauderdale&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Fort+Lauderdale%2C+FL&amp;index=11&amp;md5=b012b74044f077a96b63df96d37b0ab0\">Fort Lauderdale, FL<\/a> (21.3%), <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F8907%2FFL%2FJacksonville&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Jacksonville%2C+FL&amp;index=12&amp;md5=bd0f185d3a992407239ccfd3bad3357a\">Jacksonville, FL<\/a> (19.9%), Atlanta (19.7%) and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F18142%2FFL%2FTampa&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Tampa%2C+FL&amp;index=13&amp;md5=c15dae9c409abd72a67348d06ee0ac67\">Tampa, FL<\/a> (19.5%). Redfin analyzed the 50 most populous metro areas, and included the 44 with sufficient data.<\/p>\n<p>\nFlorida and Texas have been building more homes than anywhere else in the country, prompting some buyers to back out of deals because they\u2019re confident they will be able to find a different home that works better for them. Some buyers in the Sunshine State are also getting cold feet due to increasing natural disasters and soaring <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhome-insurance-survey-report-2024%2F&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=insurance&amp;index=14&amp;md5=d83814b3318f3092c8c57b6939d34074\">insurance<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhoa-fees-surge-florida-2024%2F&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=HOA&amp;index=15&amp;md5=9241a8c2a3b9adc651518be99028c504\">HOA<\/a> fees.<\/p>\n<p>\nHome purchases were least likely to fall through in <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcounty%2F1974%2FNY%2FNassau-County&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Nassau+County%2C+NY&amp;index=16&amp;md5=ecb64c0d25a92f32a71ac3d7e91fd718\">Nassau County, NY<\/a> (5.1%), <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcounty%2F2406%2FPA%2FMontgomery-County&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Montgomery+County%2C+PA&amp;index=17&amp;md5=317828ad4a62ef388e2717ea94fa5f55\">Montgomery County, PA<\/a> (8.2%), <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F35759%2FWI%2FMilwaukee&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Milwaukee&amp;index=18&amp;md5=c9f37b7e650e3ebc8a3144165f17e7f0\">Milwaukee<\/a> (8.3%), <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F30749%2FNY%2FNew-York&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=New+York&amp;index=19&amp;md5=2b584040ed943c7e656d2001df536bdb\">New York<\/a> (9.5%) and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F16163%2FWA%2FSeattle&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Seattle&amp;index=20&amp;md5=28d5e3a241c78682ab8132ac28966320\">Seattle<\/a> (10.2%).<\/p>\n<p><b>Virginia Beach, Newark See Biggest Upticks in Cancellations<\/b><\/p>\n<p>\nIn <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F20418%2FVA%2FVirginia-Beach&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Virginia+Beach%2C+VA&amp;index=21&amp;md5=44f19c59713b21d1e72b29365e39f1d7\">Virginia Beach, VA<\/a>, nearly 500 home-purchase agreements were canceled in July, equal to 16.1% of homes that went under contract last month. That\u2019s up 3.6 percentage points from 12.5% a year earlier\u2014the largest increase among the metros in Redfin\u2019s analysis. Rounding out the top five are <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F13136%2FNJ%2FNewark%2Ffilter%2Fstatus%3Dactive&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Newark%2C+NJ&amp;index=22&amp;md5=d9bd495af16bbd0e92722b2b78337279\">Newark, NJ<\/a> (+3.3 ppts), <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F1073%2FMD%2FBaltimore%2Ffilter%2Fstatus%3Dactive&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Baltimore&amp;index=23&amp;md5=d3dbde5b9bfeaee3fbc5c3eeca9cad4d\">Baltimore<\/a> (+3 ppts), <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F16657%2FTX%2FSan-Antonio&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=San+Antonio&amp;index=24&amp;md5=a40c94c3241f5739d3e727b851d8ad09\">San Antonio<\/a> (2.8 ppts) and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F8903%2FTX%2FHouston%2Ffilter%2Fstatus%3Dactive&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Houston&amp;index=25&amp;md5=517fd21f4ef993ce3fd370f7739d5a7f\">Houston<\/a> (2.8 ppts).<\/p>\n<p>\nVirginia Beach has a higher share of homeowners with VA loans than any other major metro, according to a separate Redfin <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fdown-payment-dollars-falling%2F&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=analysis&amp;index=26&amp;md5=5029e51e55508e5f8827f9be31f709de\">analysis<\/a>, with Baltimore also near the top of the list.<\/p>\n<p>\nCancellations fell from a year earlier in 11 metros, with the biggest drops in <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F14240%2FAZ%2FPhoenix%2Ffilter%2Fstatus%3Dactive&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Phoenix&amp;index=27&amp;md5=a88e1a6ac2d821733eaf54f4cf06de31\">Phoenix<\/a> (-2.4 ppts), <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F13655%2FFL%2FOrlando%2Ffilter%2Fstatus%3Dactive&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Orlando%2C+FL&amp;index=28&amp;md5=c76543d5a8bce9b142d29674a49c5f8e\">Orlando, FL<\/a> (-1.4 ppts), <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F18142%2FFL%2FTampa&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Tampa&amp;index=29&amp;md5=07de5754debc9f3da7ca23e87472589c\">Tampa<\/a> (-1.3 ppts), <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F16409%2FCA%2FSacramento%2Ffilter%2Fstatus%3Dactive&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Sacramento%2C+CA&amp;index=30&amp;md5=7a1af0a278ba3eb061cf980c68613951\">Sacramento, CA<\/a> (-1.3 ppts) and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fcity%2F15502%2FPA%2FPhiladelphia%2Ffilter%2Fstatus%3Dactive&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Philadelphia&amp;index=31&amp;md5=ad5429e98b6ce6f202c2631cc0190a54\">Philadelphia<\/a> (-1.2 ppts).<\/p>\n<p>\nTo view the full report, including a chart and additional metro-level data, please visit: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhome-purchase-cancellations-july-2025&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhome-purchase-cancellations-july-2025&amp;index=32&amp;md5=ed1e5334c3752f7524fdb5bdc0171d5c\">https:\/\/www.redfin.com\/news\/home-purchase-cancellations-july-2025<\/a><\/p>\n<p><b>About Redfin<\/b><\/p>\n<p>\nRedfin is a technology-driven real estate company with the country&#8217;s most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin\u2019s clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.<\/p>\n<p>\nYou can find more information about Redfin and get the latest housing market data and research at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fredfin.com%2Fnews&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=Redfin.com%2Fnews&amp;index=33&amp;md5=5a1653b407c861c5324267f9db6a3640\">Redfin.com\/news<\/a>. For more information about Rocket Companies, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Frocketcompanies.com&amp;esheet=54311156&amp;newsitemid=20250821951318&amp;lan=en-US&amp;anchor=RocketCompanies.com&amp;index=34&amp;md5=a9a9c278b573fe990f9de65599c3c117\">RocketCompanies.com<\/a>.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250821951318r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250821951318\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250821951318\/en\/<\/a><\/span><\/p>\n<p><b>Contact Redfin Journalist Services:<br \/>\n<\/b><br \/>Isabelle Novak<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:press@redfin.com\">press@redfin.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Washington<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Software Construction &amp; Property Data Analytics Internet Finance Professional Services Technology Residential Building &amp; Real Estate<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Redfin Reports Home Purchases Are Getting Canceled at a Record Rate 15% of home purchases fell through last month\u2014the highest July rate on record\u2014as high homebuying costs made buyers skittish. Cancellations were most common in Texas and Florida. SEATTLE&#8211;(BUSINESS WIRE)&#8211; Roughly 58,000 U.S. home-purchase agreements were canceled in July, equal to 15.3% of homes that went under contract last month, according to a new report from Redfin, the real estate brokerage powered by Rocket. That\u2019s up from 14.5% a year earlier and marks the highest July rate in records dating back to 2017. This is based on a Redfin analysis of MLS pending-sales data. The data are seasonal, which is why Redfin compares this July to past Julys. Please note &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-home-purchases-are-getting-canceled-at-a-record-rate\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Redfin Reports Home Purchases Are Getting Canceled at a Record Rate&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-877888","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Redfin Reports Home Purchases Are Getting Canceled at a Record Rate - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-home-purchases-are-getting-canceled-at-a-record-rate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Redfin Reports Home Purchases Are Getting Canceled at a Record Rate - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Redfin Reports Home Purchases Are Getting Canceled at a Record Rate 15% of home purchases fell through last month\u2014the highest July rate on record\u2014as high homebuying costs made buyers skittish. Cancellations were most common in Texas and Florida. SEATTLE&#8211;(BUSINESS WIRE)&#8211; Roughly 58,000 U.S. home-purchase agreements were canceled in July, equal to 15.3% of homes that went under contract last month, according to a new report from Redfin, the real estate brokerage powered by Rocket. That\u2019s up from 14.5% a year earlier and marks the highest July rate in records dating back to 2017. This is based on a Redfin analysis of MLS pending-sales data. The data are seasonal, which is why Redfin compares this July to past Julys. 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