Tens of thousands of US home sales are falling apart after buyers have already signed contracts – a stark sign that confidence in the housing market is starting to crack.
Nearly 53,000 purchase agreements were scrapped in March alone, according to new data from Redfin.
That means 13.4 percent of all homes that went under contract failed to make it to closing – one of the highest March cancellation rates on record outside the chaos of early 2020.