Home-purchase deal cancellations hit nearly 3-year high in July
Atlanta recorded the highest cancellation rate among the 50 most populous US metros with sufficient data at 19.8% in July.
Houston followed at 19.6%, ahead of San Antonio (18.7%), Las Vegas (18.6%), and Orlando (18.2%).
Houston’s imbalance is particularly pronounced: the metro currently has 130% more sellers than buyers, one of the widest gaps in the country.
Juan Castro, a Redfin Premier agent in Orlando, described the on-the-ground dynamic: “Sometimes buyers get cold feet before the inspection — they revisit the numbers with their lender, get anxious about the payment and never even send the deposit. Other times, they’ll find something relatively minor in the inspection and use it as leverage to ask for major concessions or walk away entirely. Buyers know they have options right now, so they’re pushing harder in negotiations. That can be tough for sellers, but it’s good news for buyers.”
Contract cancellation rates by metro — July 2026
Top 5 highest and lowest among 50 most populous US metros with sufficient data.
Highest (buyer’s markets)
Lowest (seller’s markets)
Source: Redfin analysis of MLS pending-sales data, July 2026 report
Tight markets offer a counterpoint
Not every metro is yielding. Nassau County, New York, recorded the lowest cancellation rate among major markets at just 3.5% in July, followed by San Francisco at 4.1% and San Jose at 6.5%.
