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Record 15.1% of U.S. Home Purchases Canceled in August

Approximately 56,000 pending home sales fell through, marking the highest August cancellation rate since tracking began in 2017.

Summary

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Terms & Concepts
  • Pending Home Sales: Agreements to purchase homes that have been signed but not yet finalized, often used to gauge housing market activity.
  • Cancellation Rate: The percentage of purchase agreements terminated before closing, reflecting buyer confidence and market conditions.