{"id":84514,"date":"2026-03-24T05:30:48","date_gmt":"2026-03-24T12:30:48","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=84514"},"modified":"2026-03-25T14:52:28","modified_gmt":"2026-03-25T21:52:28","slug":"contract-cancellations-february-2026","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/contract-cancellations-february-2026\/","title":{"rendered":"14% of Home-Sale Agreements Fell Through Last Month\u2013A Record for February"},"content":{"rendered":"<p><strong><i>House hunters have the upper hand, allowing them to abandon deals over price, repairs or second thoughts. Cancellations are most common in Tampa and San Antonio, where there are roughly twice as many sellers as buyers.\u00a0<\/i><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">More than 42,000 U.S. home-sale agreements fell through in February, equal to 13.7% of homes that went under contract that month. That\u2019s up from 12.8% a year earlier, and the highest February share in records dating back to 2017. <\/span><\/p>\n<div id=\"datawrapper-vis-aH7Pf\" style=\"min-height: 444px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/aH7Pf\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-aH7Pf\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/aH7Pf\/full.png\" alt=\"14% of Homebuying Contracts Fell Through in February (Column Chart)\" \/><\/noscript><\/div>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">This is based on a Redfin analysis of MLS pending-sales data. The data is seasonal; typically, there\u2019s a higher share of cancellations at the end of the year and a lower share in the spring. That\u2019s why we compare this February to past Februarys. Please note: Homes that fell out of contract during a given month didn\u2019t necessarily go under contract that same month. This data is subject to revision.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nearly one of every seven homebuying deals are falling through largely because <\/span><a href=\"https:\/\/www.redfin.com\/news\/buyers-vs-sellers-january-2025\/\"><span style=\"font-weight: 400;\">buyers are in the driver\u2019s seat<\/span><\/a><span style=\"font-weight: 400;\">. There are hundreds of thousands more home sellers than buyers in the country, a near-record gap that gives buyers options and negotiating power. A buyer may back out of a contract during the inspection period if they see a home they like better or an issue comes up that they don\u2019t want to repair\u2013or they might just change their mind, confident that there are a lot of other homes on the market that fit their criteria.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cHomes are falling out of contract left and right,\u201d said Juan Castro, a Redfin Premier agent in Orlando. \u201cSometimes buyers make an offer but never send the deposit because they get nervous, sometimes they revisit numbers with lenders and don\u2019t feel comfortable with the monthly payments, and other times they use a minor inspection issue as an excuse to back out. I\u2019m also seeing buyers negotiate aggressively\u2013for instance, maybe they ask for a brand-new roof because three shingles are missing on an otherwise perfectly good roof\u2013then cancel the deal if the seller says no.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">House hunters are also feeling jittery because of economic and geopolitical uncertainty. Many Americans are concerned about job security, inflation, the Iran war, and other world events that can make their finances feel shaky. Those things are also causing mortgage-rate volatility; some buyers who made an offer when rates were near a <\/span><a href=\"https:\/\/www.freddiemac.com\/pmms\"><span style=\"font-weight: 400;\">four-year low<\/span><\/a><span style=\"font-weight: 400;\"> in February may have suddenly faced a higher rate when it came time to lock it in.\u00a0<\/span><\/p>\n<h3><b>Contract Cancellations Are Most Common in Tampa, San Antonio and Other Big-Time Buyer\u2019s Markets<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">In Tampa, FL, 18.1% of home-purchase agreements were canceled in February, the highest share of the 47 major U.S. metros Redfin analyzed. It\u2019s followed by four other southern metros: San Antonio (17.9%), Atlanta (17.9%), Jacksonville, FL (17.5%) and Fort Worth, TX (17.3%).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All five of those are <\/span><a href=\"https:\/\/www.redfin.com\/news\/buyers-vs-sellers-february-2026\/\"><span style=\"font-weight: 400;\">buyer\u2019s markets<\/span><\/a><span style=\"font-weight: 400;\">. In Tampa, for instance, there are 84% more home sellers than buyers, and in San Antonio there are more than twice as many sellers as buyers. That allows buyers to back out of one deal and fairly easily move on to the next one.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the flip side, contract cancellations are <\/span><i><span style=\"font-weight: 400;\">least <\/span><\/i><span style=\"font-weight: 400;\">common in the Bay Area. In San Francisco, just 3.7% of deals fell through in February, the lowest share among the metros. Next come Nassau County, NY (4.5%), San Jose, CA (5.4%), Milwaukee (7.5%) and Oakland, CA (7.7%).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nassau County and Milwaukee are two of just five <\/span><a href=\"https:\/\/www.redfin.com\/news\/buyers-vs-sellers-february-2026\/\"><span style=\"font-weight: 400;\">seller\u2019s markets<\/span><\/a><span style=\"font-weight: 400;\"> in the U.S.; buyers in those places are rarely backing out because if they do, they may not find another home quickly.\u00a0<\/span><\/p>\n<h3><b>Cancellations Increased Most in Southern California\u00a0<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Contract cancellations rose most in Los Angeles, to 15% in February from 12.1% a year earlier. Next come Virginia Beach, VA, where 14.7% of contracts were cancelled, up from 11.9%, and Boston (10.8%, up from 8.2%).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Riverside, CA (16.9%, up from 14.4%) and Baltimore (13.3%, up from 10.9%) round out the top five.\u00a0<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"3\"><b>Metro-Level Summary: Canceled Home-Purchase Agreements, February 2026<\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">47 of the most populous U.S. metro areas<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">Redfin analyze the 50 most populous U.S. metros and included the 47 with sufficient data<\/span><\/i><\/td>\n<\/tr>\n<tr>\n<td><b>U.S. metro area<\/b><\/td>\n<td><b>Feb. 2026: Pending sales that fell out of contract, as % of overall pending sales<\/b><\/td>\n<td><b>Feb. 2025: Pending sales that fell out of contract, as % of overall pending sales<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Anaheim, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.4 %<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Atlanta, GA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Austin, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Baltimore, MD<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Boston, MA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Chicago, IL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cincinnati, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cleveland, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Columbus, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Dallas, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.6 %<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Denver, CO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Detroit, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Fort Lauderdale, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Fort Worth, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.8 %<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Houston, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Indianapolis, IN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Las Vegas, NV<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Los Angeles, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.1 %<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Miami, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Milwaukee, WI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Minneapolis, MN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Montgomery County, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nashville, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nassau County, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New Brunswick, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New York, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Newark, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Oakland, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.0 %<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Orlando, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Philadelphia, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Phoenix, AZ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Pittsburgh, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Portland, OR<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Providence, RI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Riverside, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.4 %<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Sacramento, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Antonio, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Diego, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Francisco, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Jose, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Seattle, WA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.2 %<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Virginia Beach, VA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Warren, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.3 %<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Washington, DC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">West Palm Beach, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>National\u2014U.S.A.<\/b><\/td>\n<td><b>13.7%<\/b><\/td>\n<td><b>12.8%<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>House hunters have the upper hand, allowing them to abandon deals over price, repairs or second thoughts. Cancellations are most common in Tampa and San Antonio, where there are roughly twice as many sellers as buyers.\u00a0 More than 42,000 U.S. home-sale agreements fell through in February, equal to 13.7% of homes that went under contract [&hellip;]<\/p>\n","protected":false},"author":13153,"featured_media":84516,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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