According to a recent report by Redfin, one in five home buyers in the Orlando Metro area cancel their purchases. Additionally, Florida has recorded the most homes for sale in history, with a total of 172,000 homes.
Redfine’s report highlights that high supply of homes in the area and vulnerability to natural disasters are key factors contributing to this trend. In January 2025, Orlando Metro’s home sales cancellation rate reached 18.2%, making it the second highest in the nation.
The cancellation rate has increased by 1.4% year-on-year. However, this has fallen by more than 23% since its recent peak in 2022 and 2023. A significant number of Florida home buyers have chosen to cancel their purchases due to the substantial inventory of available homes. With the abundant choices in the market, buyers are in a position to more identify the selection process.
Recent figures from Realtor.com show that Orlando Metro stocks reached 12,793 units in February 2025, reflecting a wider trend. According to the Orlando Regional Real Estate Association, current inventory of homes in the area is at its highest level since 2015.
The report also suggests concerns about natural disasters and rising insurance costs could block potential buyers. A study by the National Economic Research Bureau found that the median household insurance in Central Florida exceeds $2,000 a year, with an increase of at least 20% in most counties.
“Some buyers are stepping coldly at what’s going on in the world,” Redfin’s Prime Minister’s Agent Sam Brington said in a prepared statement. “However, despite more cancellations, there are more buyers across the market. Desired homes in major locations are sold quickly, and those buyers are less likely to cancel.”
