As rising borrowing rates continue to scare buyers away, 53 000 real estate deals were canceled last month - the highest rate in nearly a year.

According to the technology-powered real estate brokerage, 16.3% of U.S. home purchase agreements were canceled in September.

This is the highest percentage of canceled contracts since October 2022, when borrowing rates surpassed 7% for the first time in two decades.

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