- Key Highlights
July 2025 Cancellation Spike
Over 58,000 pending home purchase agreements were canceled in July—a staggering 15.3% of all contracts, marking the highest July cancellation rate on record since tracking began in 2017.
Earlier Uptick in June 2025
June also saw elevated cancellation rates, with 14.9% of contracts falling through—again, a record high for June since 2017.
Historical Highs in January
January reported 14.3% cancellation rates, also the highest for that month in over eight years.
- Regional Breakdown: Which Markets Are Most Affected?
July Top Metro Areas with Highest Cancellation Rates
San Antonio: 22.7%
Fort Lauderdale, FL: 21.3%
Jacksonville, FL: 19.9%
Atlanta, GA: 19.7%
Tampa, FL: 19.5%
June Market Fluctuations
Jacksonville, FL: 21.4%
Las Vegas: 19.7%
Atlanta: 19.6%
These Sun Belt markets continue leading in cancellations.
Markets with Lowest Cancellation Rates
Nassau County, NY: 5.1%
Montgomery County, PA: 8.2%
Milwaukee: 8.3%
New York City: 9.5%
Seattle: 10.2%
-
What’s Driving Buyers to Walk Away?
-
Affordability Pressure: Elevated home prices, steep mortgage payments, and insurance costs are prompting buyers to pause or back out.
-
Increased Inventory: More housing options give buyers leverage to walk away if something better emerges during inspections.
-
Economic Uncertainty: Fears around job security, inflation, tariffs, or appraisal issues are triggering cancellations even late in the sales process.
- Silver Lining—Market Reset in Progress?
Experts see this trend as a market realignment from earlier desperation-driven behaviors when buyers would waive protections or overbid. They suggest that rising cancellations may actually signal healthier, more sustainable buying dynamics.