The cancellations follow a widening imbalance in the US housing market, where sellers outnumbered buyers by 62.6% in September. Active listings reached 1,510,784 against a record low of 928,892 active buyers, creating a surplus of 581,892 sellers. Miami currently has the strongest buyer's market in the country with home sellers outnumbering buyers by 159%, while high mortgage rates and affordability pressures continue to suppress demand nationwide.
Tuesday, October 20, 2026
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US Home Purchase Cancellations Hit Record 14% in September
US Markets4 days ago
About 1 in 7 home purchase agreements for US residences were canceled in September, hitting a historic peak for the month. Redfin reported that this cancellation rate of more than 14% is the highest for any September on record, which the company attributes to buyers having more options in a market that now favors them.
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