07/23/2025
The housing market is shifting.
Nearly 15% of U.S. home purchase agreements fell through in June, according to Redfin—up 1% from a year ago and the highest June figure since tracking began in 2017.
At first, this stat might seem puzzling. After all, isn't there supposed to be pent-up demand, especially among Millennials and Gen Z?
So, what’s behind this? Well, according to the report...
• Some buyers are using inspection contingencies to walk away after spotting an issue or discovering a better home
• Mortgage rates remain stuck in the upper mid-6% range, and some buyers are hoping for a drop
• And in some cases, shoppers are simply more cautious amid economic uncertainty
Still, the Redfin data isn’t revealing a sudden change—it’s part of a broader trend I’ve been tracking throughout 2025: the shift to a buyer's market.
In my latest Housing Market Predictions piece, I covered how home price growth has been slowing and inventory has been steadily improving since the start of the year. That extra supply, combined with sticky mortgage rates, has given buyers a little more breathing room and negotiating power in a still-pricey housing market.
Even so, it's important to remember that housing trends remain deeply regional.
For example, affordable markets in parts of the Midwest and Northeast, which didn’t experience the extreme price surges of the pandemic years, are seeing strong buyer demand and competitive conditions.
In contrast, areas like Florida and parts of the West, where insurance costs and high home prices are causing concern, and where rapid home building in recent years is now offering buyers more choice, are experiencing more deals falling through.
https://lnkd.in/eAfHPdQn
Forbes Advisor
The much-anticipated spring home-buying season never bloomed. In truth, it hardly even budded. Now, housing market stakeholders are looking to summer for a potential rebound, hoping that growing inventory and slower home price appreciation will entice buyers off the sidelines by offering more opt
