U.S. Home-Sale Cancellations Soar In July As Buyers Pull Back

New analysis from Redfin shows that buyers are getting out of more housing deals as higher borrowing costs rattle the market.

Natalie Wong

16 Aug 2022, 07:08 PM IST

New homes under construction in Arcola, Texas, US, on Tuesday, July 12, 2022. In an American housing market that for years has been plagued by too little inventory, builders are suddenly finding themselves with a glut of unsold homes.

(Bloomberg) -- Failed US home-purchase deals jumped in July as buyers continued to back away from the market amid rising mortgage rates.

U.S. Home-Sale Cancellations Soar In July As Buyers Pull Back

New analysis from Redfin shows that buyers are getting out of more housing deals as higher borrowing costs rattle the market.

Choose a plan