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Data from Redfin revealed that nearly 58,000 contracts to purchase a home in the U.S. were canceled in July 2025, accounting for 15.3% of all homes that went under contract during the month, according to Bloomberg. Elevated mortgage rates, high home prices, and economic unease were cited as catalysts for increasing cancelations. For comparison, 14.5% of home-purchase agreements were cancelled over the same period last year.
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