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June 30, 2025

Housing red flag: Data show increase in cancellations of home purchase agreements

By ALEX VEIGA
AP Business Writer

LOS ANGELES — The latest sign of trouble in the U.S. housing market: A pickup in home purchase agreements falling through before they're finalized.

Some 6% of pending contracts to buy a home were canceled in May, down from 7% in April, but up from 5% in May last year, according to data from National Association of Realtors. May is the third consecutive month with an annual increase in pending home sales cancelations.


 
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