Overview
- About 40,000 purchase agreements fell through in December 2025, equal to 16.3% of homes under contract and the highest December share in Redfin records back to 2017.
- Home sellers outnumbered buyers by 47.1% in December, a gap of 631,535 that marked the widest spread since Redfin began tracking the measure in 2013.
- Redfin attributes the pullbacks to high housing costs and greater choice, with many buyers invoking inspection contingencies or reassessing mortgage affordability.
- Atlanta posted the highest fallout rate at 22.5%, followed by Jacksonville and San Antonio at 20.6%, Cleveland at 20.2%, and Tampa at 19.4%, while Nassau County and San Francisco recorded sub-5% rates.
- With pending home sales down 9% from November, economists say the elevated cancellation share points to weaker closed sales in January and February.