Tampa ranks third nationwide for canceled home purchase agreements, according to a new report from Redfin — part of a broader trend showing Florida cities dominating the list.

Roughly 56,000 U.S. home deals fell through in April 2025, representing 14.3% of pending sales. It’s the highest April cancellation rate since 2017, excluding the early pandemic disruptions of 2020.

In Tampa, 19.1% of home sales were canceled before closing, trailing only Atlanta (20%) and Orlando (19.4%). Miami, Fort Lauderdale, and Jacksonville also made the top 10, with cancellation rates around 18–19%.

Redfin points to ongoing economic uncertainty and a market shift in favor of buyers as key drivers. With housing inventory at a five-year high and demand cooling, homebuyers may be more likely to walk away if a better deal comes along.

In Tampa Bay, however, there’s another complicating factor: storm risk. Local real estate agent Ali St Cyr says the active 2024 hurricane season continues to impact neighborhoods hit by past storms.

“Storm-damaged areas are selling for less than they would have a year ago, even if overall prices look flat,” St Cyr said. “If you’re not accounting for those pockets, it’s hard to get a clear picture of the market.”

Tips for Buyers in a Volatile Market

Real estate experts recommend the following strategies for navigating today’s uncertain housing landscape:

• Get pre-approved: It strengthens your position and helps define your budget.
• Make backup offers: If another buyer backs out, you could jump to the front of the line.
• Inspect thoroughly: A low-priced home may hide storm damage that affects future costs.
• Ask about concessions: Some sellers are offering interest rate buy-downs or covering closing costs — even if it’s not advertised.

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