Home-buyers feeling uncertain

(CNN)– A recent report shows home purchases are getting cancelled at a record rate.

In July, roughly 1-in-7 home buys in the U.S. fell through, according to a Redfin’s analysis of pending sales data.

One of those sticker shocks for buyers would be rising insurance costs.

Another thing that could be at play is the balance of power in the housing market shifting towards buyers.

With more homes to choose from compared to just a few years ago people looking for a new house may not feel in a rush.