Kingston, Jamaica — 3 March 2026
Homebuyers in the United States are backing out of signed purchase agreements at the fastest rate in nearly a decade, according to brokerage data released in December. More than 40,000 transactions were cancelled during the month, representing 16.3% of homes that went under contract. The figures point to growing caution in one of the world’s largest housing markets — a development that may carry broader signals for countries like Jamaica with deep financial and diaspora ties to the US.
The data, published by US brokerage Redfin, shows cancellations rising from 14.9% a year earlier and reaching their highest level since tracking began in 2017. At the same time, there were approximately 47% more sellers than buyers in the market — the widest recorded gap in more than a decade.
Pending sales also fell sharply, declining 9% between November and December, according to US industry figures. Analysts expect closed sales in the following months to reflect that slo…
