During the height of the pandemic, when 30-year fixed mortgage rates hit historic lows, my wife and I spent months searching for a vacation home. We placed offers sight unseen, waived loan contingencies, and competed in crowded bidding wars—just hoping a seller would notice us.

When the inspection report revealed issues—plumbing problems, a leaky A/C, and even a faulty electrical panel—we knew the risks. If we cancelled escrow, a back-up buyer would swoop in, the seller would still get above asking price, and we’d be back at square one. So, we moved forward and paid out of pocket to resolve the issues.

That was only a few years ago. But today, it feels like ancient history.

Buyers Hold the Power Now

According to a new report from Redfin, 58,000 U.S. home-purchase agreements were cancelled in July, representing 15.3% of all homes that went under contract last month.

In Los Angeles, the number is even higher: 16.5% of pending home sales fell out of contract. In Riverside, the rate climbed to 19.5%—the highest cancellation rate in America outside of Fort Lauderdale, Atlanta, and San Antonio.

So, what are buyers signaling to the market?

1. Economic Uncertainty Is Making Buyers Hesitate

Inflation has cooled, and unemployment sits just above 4%. Yet wage growth remains flat, savings accounts are shrinking, and AI-driven job disruption is creating new anxieties. Many prospective buyers are adopting a “wait and see” approach, reflecting the gap between everyday Americans and the insulated top 1% of the economy.

2. More Inventory Means More Options

For the first time in over a decade, there are 500,000 more homes for sale than there are buyers willing to purchase them (Realtor.com). This flood of inventory is reshaping the balance of power, giving active buyers more leverage and freedom to be selective.

3. Buyers Are Pushing Back on Unrealistic Prices

Sellers, often sitting on strong equity positions, are holding firm to inflated price expectations. But reality is catching up. Realtor.com reports a 47% year-over-year increase in homes being delisted as sellers resist lowering their prices. Yet many households are facing record-high debt and dwindling cash flow, creating pressure for sellers to adjust—or watch buyers walk away.

How We’re Helping Buyers Stay Ready

At NOH Mortgage Group, we know timing the market is less important than being ready when opportunity strikes.

That’s why we launched OWN CA LIVE 2025 & Beyond—a weekly virtual seminar designed to help families break free from renting and step confidently into homeownership.

✅ For buyers feeling uncertain, we teach you how to stay prepared so you can move when the time is right.
✅ For buyers hunting for deals, we show you how to navigate a cooling market and secure the right opportunity.

Our mission is simple: restore hope and trust in the American Dream by turning renters into confident owners, one family at a time.

👉 Register for OWN CA LIVE Here

Because in today’s market, the real winners won’t just be those who wait—it will be those who are ready.

Sources:
https://www.redfin.com/news/home-purchase-cancellations-july-2025/
https://www.realtor.com/news/trends/delistings-home-seller-june-trends-report/