Homebuyers canceled their purchase agreements at the highest rate on record in December, another signal of a housing market mired in uncertainty. More than 40,000 home-purchase agreements were canceled in December, equal to 16.3% of homes that went under contract during the month, the national brokerage Redfin said in a published analysis. “High housing costs and rising inventory have made homebuyers more selective,” said Chen Zhao, head of economics research at Redfin, in a statement. “Home sellers outnumber buyers by a record margin, meaning the buyers who are in the market have options and may walk away if they believe they can find a better or more affordable home.” |
