Housing market getting weird.
14% of home purchases canceled last month — highest September cancellation rate on record.
That's not just cold feet. That's people running the numbers again and realizing they can't make it work. Rates still elevated, prices still sticky, affordability still terrible.
When buyers walk away at this rate, it's usually because:
• Their financing fell through (rates moved, income changed)
• Inspection scared them off (buying problems they can't afford to fix)
• They just sobered up and realized they're overpaying
This isn't a crash signal. It's a friction signal. Market's not flowing — it's grinding. Sellers want 2021 prices, buyers want 2019 rates, and nobody's getting what they want.
If you're house shopping right now, you're in the most patient wins game there is. Don't chase. Don't stretch. The desperation you feel is exactly what gets people in trouble.
14% of home purchases canceled last month — highest September cancellation rate on record.
That's not just cold feet. That's people running the numbers again and realizing they can't make it work. Rates still elevated, prices still sticky, affordability still terrible.
When buyers walk away at this rate, it's usually because:
• Their financing fell through (rates moved, income changed)
• Inspection scared them off (buying problems they can't afford to fix)
• They just sobered up and realized they're overpaying
This isn't a crash signal. It's a friction signal. Market's not flowing — it's grinding. Sellers want 2021 prices, buyers want 2019 rates, and nobody's getting what they want.
If you're house shopping right now, you're in the most patient wins game there is. Don't chase. Don't stretch. The desperation you feel is exactly what gets people in trouble.