Redfin attributes the rise in back-outs to the influx of additional buyer options.
A ‘sale pending’ sign is posted in front of a home in San Anselmo, Calif., on Nov. 30, 2023. Justin Sullivan/Getty Images
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.
