IE Business Daily Business news for the Inland Empire.
More than 42,000 home-sale contracts were cancelled nationwide in February, 13.7 percent of the houses that were set to change hands during that time.
That was up from 12.8 percent in February 2025, and the highest cancellation percentage during the second month of the year since 2017, according to Redfin, a real estate company in Seattle.
“Nearly one in every seven home-buying deals are falling through largely because buyers are in the driver’s seat,” the report states. “There are hundreds of thousands more home sellers than buyers in the country, a near-record gap that gives buyers options and negotiating power.”
Riverside (16.9 percent) had the highest cancellation rate of any major market, followed by Los Angeles (15 percent), Virginia Beach (14.7 percent), Baltimore (13.3 percent) and Boston (10.8 percent) complete the top five.
The report is based on seasonal data taken from a multiple listing service, according to Redfin.
