Redfin Reports 1 in 7 Pending Home Sales Are Getting Canceled, the Highest Share During This Time of Year on Record
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Redfin reports that 14.3% of U.S. home-purchase agreements were canceled in January, marking the highest cancellation rate for this time of year since at least 2017. This increase is attributed to rising supply and falling demand in the housing market.
February 28, 2025 | 1:15 pm
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Redfin reports a record high in home-purchase agreement cancellations, with 14.3% falling through in January. This could indicate challenges in the housing market, potentially impacting Redfin's revenues and stock price.
The high cancellation rate of home-purchase agreements suggests a challenging environment for Redfin, as it may lead to reduced transaction volumes and revenues. This could negatively impact Redfin's stock price in the short term.
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