Pending home sales were canceled in San Antonio, Texas, at a higher rate than any other U.S. city during October, according to a new report by real estate brokerage Redfin.

Buyers in the city backed away from more than a fifth (21 percent) of all expected sales that month, 2 percent up year over year.

Why It Matters

The number of Americans backtracking from home purchases is on the rise all across the country, as buyers either realize they cannot afford such an expense in the current economy or suspect they can get a better deal elsewhere, as inventory has risen nationwide in recent months.

At a national level, 15.1 percent of all pending sales fell through in October, up from 14.3 percent a year earlier.

This phenomenon, however, is much more pronounced in the Sun Belt, which experie

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