According to a recent report by Redfin, nearly one in five homebuyers in the Orlando metro area cancels their purchase. Additionally, Florida has recorded the highest number of homes for sale in history, with a total of 172,000 homes.
Redfine’s report highlights that the region’s high supply of homes and its vulnerability to natural disasters are major factors contributing to this trend. In January 2025, the cancellation rate for home sales in the Orlando metro reached 18.2%, making it the second highest in the nation.
The cancellation rate has increased by 1.4% on a year-over-year basis; however, it has decreased from recent peaks exceeding 23% in 2022 and 2023. A significant number of homebuyers in Florida are opting to cancel their purchases, influenced by the substantial inventory of available homes. With an abundance of choices in the market, buyers are in a position to be more discerning in their selection process.
Recent figures from Realtor.com indicate that inventory in the Orlando metro reached 12,793 homes in February 2025, reflecting a broader trend. The current inventory of homes in the area is at its highest level since 2015, according to the Orlando Regional Realtor Association
The report also suggests that worries about natural disasters and rising insurance costs may deter potential buyers. The median cost of home insurance in Central Florida exceeds $2,000 annually, with increases of at least 20% in most counties, according to a study from the National Bureau of Economic Research.
“Some buyers are getting cold feet with everything happening in the world,” said Sam Brinton, a Redfin Premier agent, in a prepared statement. “However, despite more cancellations, there are also more buyers in the market overall. The desirable homes in prime locations are selling quickly, and those buyers are less likely to cancel.”
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