--- title: 10 Cities Where Homes Sales Are Most Likely to Collapse description: In another sign the housing market is cooling down, the number of pending home sales being cancelled remains high, especially in the Sunbelt. authors: - name: Sarah Hansen role: Senior Writer url: https://money.com/author/sarah-hansen/ bio: Sarah Hansen is a senior writer at Money covering all things personal finance. Previously, she covered economic policy and capital markets on the breaking news desk at Forbes. education: Northwestern University, New York University at_money_since: 2021 articles: 347 covers: - Housing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes social: - https://www.linkedin.com/in/sarah-m-hansen/ former_staff: true editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Housing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2022-09-27T15:13:11.000Z' modified: '2024-01-10T13:18:14.000Z' section: Housing tags: - News word_count: 388 canonical: https://money.com/cities-where-home-sales-collapse-likely/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![House in Ft Lauderdale FL](https://img.money.com/2022/09/News-Cities-where-people-backing-out-buy-homes.jpg?crop=0px%2C301px%2C2880px%2C1620px&quality=85) *Fort Lauderdale, Florida* More and more potential homebuyers are backing out of purchases, especially in some of the pandemic’s hottest housing markets. A little more than 15% of pending home sales (or 64,000 total purchases) fell out of contract in August, according to a new [analysis](https://www.redfin.com/news/home-purchases-fall-through-august-2022/) from the real estate brokerage Redfin. In July, 15.5% of pending sales fell out of contact. That was the highest level since 2017, with the exception of two months at the very beginning of the pandemic. Redfin attributes the sustained uptick in homebuyers backing out of deals to the rapidly [cooling housing market](https://money.com/housing-market-cooldown-signs-predictions/). It's not merely about buyers getting cold feet: [Less competition](https://money.com/housing-market-cooldown-bidding-wars/), lower prices and more inventory have allowed homebuyers to be more discerning. “House hunters today are taking their time and exploring their options, whereas six months ago, they had to act quickly and pull out every stop to compete because homes were selling almost immediately,” Tzahi Arbeli, a Las Vegas Redfin real estate agent, said in a statement. Rising [mortgage rates](https://money.com/current-mortgage-rates/) are playing a role too, Redfin said. If rates shoot up during a buyer’s closing process, they may find themselves unable to buy a home they could previously afford. And it’s not just potential buyers: the cooling market is also forcing builders to slow down. CNBC [reported](https://www.cnbc.com/2022/08/16/homebuyers-are-backing-out-of-more-deals-as-recession-fears-linger.html) last month that homebuilder cancellation rates had more than doubled since the spring. ## Where home sale cancellations are most common Homebuyers are backing out of purchases at the fastest rate in the [Sun Belt](https://money.com/hottest-housing-markets-2022-zillow/), a region that saw explosive demand for housing and price growth over the past two years as people sought more space and more affordable homes. Here are the top 10 cities where the largest share of would-be buyers are backing out of deals, according to Redfin. In every city on the list, more than one in five pending sales fell out of contract in August. 1. Jacksonville, Florida: 26.1% 2. Las Vegas, Nevada: 23% 3. Atlanta, Georgia: 22.6% 4. Orlando, Florida: 21.9% 5. Fort Lauderdale, Florida: 21.7% 6. Phoenix, Arizona: 21.6% 7. Tampa, Florida: 21.5% 8. Fort Worth, Texas: 21.5% 9. San Antonio, Texas :21.1% 10. 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