Record-High Cancellation Rate: 15% of Home Purchases Fell Through in July

In July 2025, Redfin reports a record 15.3% of U.S. home‑purchase agreements were canceled—the highest July rate since tracking began in 2017, with around 58,000 deals collapsing.Investopedia+15Redfin+15Redfin+15

Drivers? Buyers are spooked by high home‑buying costs, elevated mortgage rates, and economic uncertainty. Plus, with more listings available—especially in Sun Belt markets like Texas and Florida—they’re feeling empowered to walk away during inspections or even before closing.Redfin+7Redfin+7Redfin+7

Top hotspots for cancellations included:

• • San Antonio (22.7%)

  • Fort Lauderdale (21.3%)

  • Jacksonville (19.9%)

  • Tampa (19.5%)Redfin+9Redfin+9NewsRadio WFLA+9Investopedia

  But here’s the silver lining: Negotiating power is shifting toward buyers. With more inventory and cooler competition, now might be the perfect time to get serious about finding your dream home—on your own terms.