Buyers back out of home-sale deals at record rate in January

Sellers significantly outnumbering buyers in the market and economic uncertainty have caused a record number of home sales to fall through, a new industry report found.

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Nearly 40,000 home-sale agreements were cancelled in January, according to a Redfin analysis of pending sales data. That’s 13.7% of homes that went under contract in the United States, up 13.1% from the same…