Is it a bearish market?

The Florida market has been booming for nearly five years during and following the pandemic, leading the nation in home sales. Now, we are leading the nation in rates of home contract cancellations. Specifically here in Orlando, where we saw the second-highest rate of cancellations in the country last month— second to Atlanta— with recorded cancelled contracts at or above 20%.

It seems like a natural correction due to many reasons:

More inventory: housing inventory is up 21% from the previous year
Jittery buyers: concerned for various reasons, including high interest rates, high prices, market uncertainty, and fears of recession
Growing risks of natural disasters: leading to cooling migration to our state
Rising home insurance and HOA fees in our market

Don’t misunderstand me— we aren’t seeing a full-blown buyer’s market yet, but we are seeing a gradual rebalancing of the market. Buyers now have more options and negotiating power, which honestly, is a welcome relief in my opinion. They can take more time to make a decision, which means less remorse; they can ask for concessions to help offset rising expenses; and they can be pickier instead of settling.

But for sellers who are still anchored in pre-pandemic prices, it can be a very frustrating market. That’s why educating my clients on the current market as it stands today—and telling them actual stories of what I’m seeing on the frontlines—is a critical goal of mine at every consultation I have the privilege of earning.

My desire for any client, whether seller or buyer, is to help them achieve their real estate goals with little stress and a big happy smile on their face come closing day. With proper expectations from the start, the entire process is more enjoyable for everyone.

Third Buyer Is a Charm

I’m Seeing the Cancellations Firsthand— The story of my listing at 1795 Markham Glen

It’s never an easy call when I have to pick up the phone four days before closing and tell my sellers, “The buyer is cancelling for no contractual reason.” But that’s just what happened with this beautiful home. And in this particular case, these were the second buyers to cancel on us!

The first buyer cancelled during their inspection period, which is a common and acceptable time in a transaction to see a cancellation. But the second buyers were past all their contingencies, including inspection, appraisal, and even financing.

While the buyers tried to get their $10,000 escrow back (and who can blame them for trying), it was met with a polite “heck no!” from us, and I got the escrow released—appropriately—to my sellers.

Not only did my sellers get to keep that $10,000 escrow, but we had already signed a full-price backup contract weeks prior. That backup buyer moved right into first position when the previous buyers sent their cancellation.

And this week, just 24 days after that dreadful phone call, we got to celebrate my sellers’ Closing Day!

Like I said in the post above, the market is shifting. Redfin even declared the Greater Orlando real estate market “bearish.” Home prices are beginning to dip after years of rapid appreciation. We’ve seen 50% of listings with price cuts—up 21% from last year.

As a listing agent, if I can secure an official backup buyer for my sellers, I 100% recommend they sign the dotted line. It may seem like overkill at the time, but this market has been unpredictable, and with cancellations at 20%, you’ll be glad you did.

When listing your home, hire an agent who is always thinking three steps ahead—like yours truly.

“Not only did my sellers get to keep that $10,000 escrow, but we had already signed a full-price backup contract weeks prior. That backup buyer moved right into first position when the previous buyers sent their cancellation.”

$10 Million in Sales Already!

Thank you to all of YOU—our clients! We have already closed over $10 million in sales on the Jennifer Christ Team in 2025, in spite of it being a challenging market, and it’s not even September yet! We are beyond blessed and grateful for each of you, your trust in us, and your referrals!

Contact our team today >