Canceled Contracts Spike to 15%: What Rising Fall‑Throughs Signal for Home Prices, Mortgage Demand and the Fall Market
Pending home sales slipped in July and fall‑throughs surged to the highest level since at least 2017 tracking—an unmistakable stress flare as the market pivots into the critical autumn listing season. The National Association of Realtors’ Pending Home Sales Index (PHSI) fell 0.4% month over month in July (still up 0.7% year over year), while Redfin’s analysis shows 15% of contracts canceled, with Texas and Florida metros topping the list, according to CNBC. Mortgage rates drifted higher through July before easing in August, offering a modest tailwind heading into September.
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