Summary
Home sale cancellations were highest in former pandemic boomtowns in the South, with Atlanta leading in August. A total of 1,532 deals were canceled in Atlanta, which was 21% of all home contracts. In contrast, Nassau County, New York had the lowest cancellation rate.
Key Facts
- Atlanta, Georgia had the highest rate of canceled home sales in August, with 21% of contracts falling through.
- Cities in Florida and Texas, like Jacksonville and Houston, also had high cancellation rates.
- High inventory and market changes, such as higher costs and fewer buyers, have led to more cancellations.
- Florida had over 214,000 homes for sale in August, marking a 5.4% increase from the previous year.
- Texas saw a 13.9% increase in homes for sale, with a median price drop to $345,900.
- Cancellations often happened during inspections, due to repair issues or financing problems for buyers.
- Nassau County, New York, had the lowest cancellation rate at 4.5% in August.
