Haunted by cancellations: Homebuyers walk away from deals at highest rate in a year

One in seven home-purchase contracts fell through in September, according to new Redfin analysis

The chill in the United States housing market deepened in September, with 15% of home-purchase agreements nationwide falling through—leaving more than 53,000 sellers suddenly without buyers, according to new Redfin analysis. That’s a jump from 13.6% a year earlier and marks the highest cancellation rate in a year.

Redfin’s data, which tracks pending sales across the 50 largest US metros, showed the phenomenon was especially acute in Florida and Texas. Tampa led the nation with a 20.1% cancellation rate, up from 17.7% last year.

San Antonio, Atlanta, Orlando, and Fort Worth all saw nearly one in five deals collapse before closing.

Buyer remorse and economic jitters drive cancellations.

“Buyers make an offer, then they start worrying they could have found a better deal or a better home because there are more home sellers than buyers in the market. Some other buyers are backing out because they’re concerned about job security,” said Jo Chavez, a Redfin Premier agent in Kansas City, MO.

High mortgage rates, record home prices, and a growing mismatch in expectations drive the trend. 

Many sellers, especially those who bought during the pandemic boom, are holding firm on price, unwilling to negotiate or offer concessions. 

“I still think we’re seeing some sellers not willing to accept the reality check that their realtors are giving them. This isn’t ’21. This isn’t ’22. You can’t just throw your house on the market and say, ‘Take it or leave it,’” Charlotte-based loan originator Rebecca Richardson told Mortgage Professional America last month.

By Liezel Once

23 October 2025 READ THE FULL ARTICLE HERE