Roughly 53,000 home purchase agreements were canceled in October, equal to 15.1% of homes that went under contract that month.
According to a new data report from Redfin, the share of canceled deals was up from the 14.3% level in October 2024. The report is based on an analysis of MLS pending-sales data.
San Antonio led the nation in canceled deals, with over one in five (21%) pending home sales falling through in October. Other markets with higher-than-normal cancelation rates were Fort Lauderdale (20%), Fort Worth (19.7%), Las Vegas (19.2%) and Jacksonville (19.2%).
The lowest cancelation rate was in Nassau County, New York, where 4.4% of pending home sales fell through in October. Next came San Francisco (4.6%), San Jose (7%), Oakland (9.1%) and Pennsylvania’s Montgomery County (9.2%).
