Homebuyers are backing out of purchase agreements at the fastest rate on record according to Redfin, underscoring the growing leverage buyers hold as high costs and swelling inventories reshape the housing market.
Nearly 85,000 U.S. homeowners withdrew their properties from the market in September--up 28% from a year earlier and the highest level for the month since 2017 -- according to a nationwide analysis of historical listing data compiled by Redfin.
U.S. foreclosure activity edged higher in October, extending a months-long climb as rising borrowing costs and cooling home-price growth continue to pressure a small but growing share of homeowners.
Existing-home sales rose 1.5% month-over-month in September 2025, reaching a seasonally adjusted annual rate of 4.06 million, according to the National Association of Realtors (NAR). On a year-over-year basis, sales increased 4.1%, reflecting sustained demand across much of the country.
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