October Sees Rise in Canceled Home-Purchase Agreements -- Market Talk

Dow Jones12-04 02:06

1306 ET - Roughly 53,000 U.S. home-purchase agreements were canceled in October, Redfin says, equal to 15.1% of homes that went under contract that month. That's up from 14.3% a year earlier. Home-purchase cancellations remain elevated because high housing costs and economic uncertainty are giving some buyers cold feet. It's also a buyer's market, with home sellers significantly outnumbering homebuyers. This means buyers in most areas have room to negotiate and the flexibility to take their time. San Antonio leads the nation in canceled deals, with 21% of pending home sales falling through in October. Texas and Florida have been building more homes than anywhere else in the country, prompting some buyers to back out of deals because they're confident they will be able to find a different home that works better for them. (chris.wack@wsj.com)

(END) Dow Jones Newswires

December 03, 2025 13:06 ET (18:06 GMT)

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