US Home Sale Cancellations Hit Record High for February

Redfin attributes the rise in back-outs to the influx of additional buyer options.
US Home Sale Cancellations Hit Record High for February
A 'sale pending' sign is posted in front of a home in San Anselmo, Calif., on Nov. 30, 2023. Justin Sullivan/Getty Images
Mary Prenon
Mary Prenon
Freelance Reporter
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National home sale agreements that fell through last month reached a record high for February, with 13.7 percent of home buyers backing out of deals.

A March 24 Redfin report indicates more than 42,000 agreements collapsed—the highest number since records began in 2017.
Mary Prenon
Mary Prenon
Freelance Reporter
Mary T. Prenon covers real estate and business. She has been a writer and reporter for over 25 years with various print and broadcast media in New York.