Something is happening at the contract stage that deserves more attention: home purchase cancellations are jumping sharply — up 15% and climbing.
Buyers are getting under contract, doing their due diligence, and walking away. This isn't panic — it's math. When buyers run the full numbers on a home, including mortgage payment, insurance, taxes, HOA, and maintenance, the total cost of ownership is stopping deals cold.
The "Rage Quit" Seller Problem
On the seller side, a parallel phenomenon is playing out. Many sellers want to sell — and 70% of sellers are also buyers in today's market. But when unable to sell for the price they need, they take their listing off the market and wait for a better market.
I call it rage quitting. Sellers list high. They don't get their price. They blame the agent. They pull the listing. They wait for busy season.
But those homes are still there. They're just temporarily off MLS. This is pent-up supply — not tightening supply. And it will return.
Less Migration to Florida
Migration to Florida is down 80% from the peak. The wave of out-of-state buyers that drove prices to unsustainable levels has slowed dramatically. Meanwhile, consumer debt and delinquencies are moving up.
The combination — less demand, more hidden supply, higher carrying costs — creates a market where price cuts are inevitable for serious sellers. Agents who can navigate these conversations honestly will be the ones clients trust.