Redfin: US home-purchase cancellations hit 14% in July, highest in nearly 3 years

Reuters2026/08/21 12:12

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Redfin flagged rising U.S. home-purchase contract cancellations, with 14% of July agreements falling through, the highest since November 2023.
Buyer leverage drove the uptick, with July homebuyers at a record low, leaving 51% more sellers than buyers nationwide.
Affordability pressure kept buyers cautious as elevated mortgage rates met high prices, raising sensitivity to inspections, appraisals, concessions.
Southern metros led cancellations, with Atlanta at 19.8% in July, Houston at 19.6%, reflecting some of the strongest buyer’s markets.
Nassau County, NY posted the lowest rate at 3.5%; San Francisco at 4.1%, San Jose at 6.5%, where tighter markets reduced fallout.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Redfin Corporation published the original content used to generate this news brief on August 21, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Redfin: US home-purchase cancellations hit 14% in July, highest in nearly 3 years

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