TAMPA, Fla. (WFLA) — Home purchases across Florida and the U.S. are getting canceled at a record rate, according to a new study from Redfin.

The real estate company said 15% of home purchases fell through last month, which is the highest July rate on record.

The data showed that three of the top five cities with the highest percentage of home purchase cancellations were in Florida. Home purchases were most likely to fall through in Fort Lauderdale, Jacksonville and Tampa.

Redfin said high prices, high mortgage rates and economic uncertainty are making buyers skittish.

Redfin also said that buyers have more choices than they’ve had in the past, meaning they have more negotiating power and are often not in a rush.

“They may back out during the inspection period if a better home comes up for sale or they discover an issue they don’t want to fix,” Redfin said.

Some Florida buyers are getting cold feet “due to increasing natural disasters and soaring insurance and HOA fees,” the company said.

Although Tampa was one of the top cities for cancellations, it actually saw more contracts fall through last year. Redfin’s data showed that 19.5% of deals fell through this year, while 20.8% of pending sales were canceled in 2024.

Here is a list of where home purchases are falling through the most, according to Redfin:

1. San Antonio, Texas (22.7%)
2. Fort Lauderdale, Florida (21.3%)
3. Jacksonville, Florida (19.9%)
4. Atlanta, Georgia (19.7%)
5. Tampa, Florida (19.5%)