Home sales contract cancellations declined slightly in April, while both property listings and contract signings increased in the first four months of the year, according to two reports.
A May 21 Redfin report indicated home purchase contract cancellations in April saw a slight decline of 0.1 percent from the previous month. Nationally, nearly 47,000 home sale agreements fell though, representing just 13.4 percent of homes under contract that month.
While contract cancellations remain higher than in the early 2020s when inventory was low, the national real estate brokerage noted that April’s numbers tied with January for the lowest number of cancellations since September 2024.
“We’re seeing some buyers cancel purchase agreements, but no more than usual, and when buyers do back out it’s typically because of post-inspection repair costs and appraisals,” Timothy Hourigan, a Syracuse, New York, Redfin Premier agent said in the report….