economy
January 27, 2026
Homebuyers are backing out of deals at the fastest pace in nearly a decade
More than 16% of signed contracts on homes in December were canceled, as consumers face continued uncertainty in the economy and rising inventory.
TL;DR
- More than 40,000 home purchase agreements were canceled in December, a record 16.3% of deals.
- High housing costs and rising inventory are making buyers more selective.
- There were 47% more home sellers than buyers in December, the largest gap on record.
- Atlanta had the highest contract cancellation rate at 22.5% in December.
- Pending home sales dropped 9% in December, suggesting weak closed sales in early 2025.
Continue reading the original article