Nov 19, 2025 - Real Estate
Why more Portland homebuyers are backing out
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More Portland homebuying contracts are being canceled, according to a recent Redfin report.
The big picture: Homebuyers are backing out of deals at "a fairly high rate" as their negotiating power grows and economic uncertainty mounts, among other reasons.
- "In a market where home prices and mortgage rates are high and competition is low, buyers want the home they buy to be perfect," researchers wrote in the report.
Meanwhile, some sellers aren't willing to budge on price or repairs.
By the numbers: Nearly 16% of pending Portland home sales fell through in September, up a full percentage point from a year ago, per the real estate site.
- Nationally, homebuyers backed out of 15% of sales in September, up from 13.6% a year prior.
Between the lines: Cancellations are typically more common near the end of the year and less common in the spring.