“Homebuyers are backing out of deals at the fastest pace in nearly a decade.”

And honestly? From a national perspective, it is dramatic.

Across the country, affordability has collided with uncertainty. Mortgage rates remain elevated. Prices are still high in many cities. And buyers in some of the hardest-hit markets are feeling squeezed from every angle.

According to Redfin, more than 40,000 home purchase agreements were canceled in December, representing 16.3% of all contracts — the highest share since the company began tracking this data.

Cities like Atlanta, Jacksonville, San Antonio, Cleveland, and Tampa saw the highest cancellation rates, where affordability has become a growing pressure point and inventory has risen quickly.

These are places where:

• buyers rushed in during the pandemic years

• prices jumped fast

• and now reality is setting in

For many buyers nationally, this is the moment they’re pausing and asking:
Does this still make financial sense?

Nervous buyers don’t mean no buyers

This isn’t a market with no demand.
It’s a market with hesitation.

Buyers are backing out when:

• inspections uncover costly issues

• monthly payments feel stretched

• insurance and HOA costs surprise them

• or better options suddenly appear

This is what happens when a market shifts from emotional to analytical.

Now let’s bring this home to Las Vegas

Las Vegas is not immune to what’s happening nationally — but it’s not identical either.

We’ve seen:

• growing inventory

• more homes sitting without offers

• and builders becoming far more competitive

Which creates a very different dynamic.

Here, smart buyers aren’t running from the market.
They’re recalculating.

They’re watching:

• which communities are in close-out or motivated to get sales on the books

• where incentives are quietly stacking up

• which sellers are ready to negotiate instead of hold firm

This is where the headline turns from fear into strategy.

The builder signal behind the scenes

One of the most telling details this week came not from buyers — but from builders.

D.R. Horton reported lower earnings, largely because they’ve been offering more incentives to keep sales moving. That means rate buydowns, credits, and flexibility are now part of the conversation again.

It’s not that homes aren’t selling.
It’s that builders are competing for today’s buyer.

And in Las Vegas, that competition can change your monthly payment far more than a small price cut ever could.

Vegas takeaway: this is a strategy market

This is not a crash market.
This is not a frenzy market.

It’s a strategy market.

The buyers who win right now:

• know which communities are motivated to close out phases

• know where the strongest incentives live

• know when the numbers work — and pounce when they do

• and use patience as part of their plan

The sellers who succeed:

• understand that today’s buyers are cautious, not careless

• price with intention

• and prepare for negotiation rather than resist it

The loud national headline says: buyers are backing out.

The quieter reality:
buyers and sellers are learning how to navigate a more thoughtful market.

If you'd like to read the full article you can find it here.

If you’re thinking about buying or selling in Las Vegas this year, this is exactly the kind of market where having real insight matters more than reacting to headlines.

If you want to know which communities are motivated right now — or where the numbers are finally starting to work — I’m happy to share what I’m seeing on the ground.

Just reach out.
Jennifer

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