Summary
Home sales in the U.S. are seeing more deals falling through as buyers back out at the last minute. This trend is happening because of economic concerns, inspection problems, and issues with buyer financing. Many agents believe that overpriced homes and high interest rates are key reasons for these challenges.
Key Facts
- 62% of real estate agents noted more buyers backing out of deals versus last year.
- Common reasons for failed sales include inspection issues, financing problems, and buyers changing their minds.
- Homes are staying on the market longer, averaging 47 to 62 days, compared to 16 days in 2021.
- 77% of agents say overpricing is why homes aren't selling quickly.
- 82% of agents reported more price cuts in 2025's second quarter than last year.
- A drop in interest rates to 5.75% might encourage more buyers to close deals.
- HomeLight's report included responses from nearly 900 top real estate agents.
