YOUNGSTOWN, Ohio (WKBN) – The housing market has been a hot topic this year. According to RedFin Corporation, 60,000 home purchase agreements fell through in October in the U.S. That’s the highest amount since the real estate brokerage started tracking it in 2013.

Cliff Freeman is a real estate agent in Texas but coaches agents all over the country. He says cold feet and buyer’s remorse can come from people letting their emotions override logic when buying a house.

“We had many people as they got under contract, I guess they sobered up, so to speak and said, ‘Hey, I’m overpaying by this house, and I don’t think this is the right thing to do right now,'” Freeman said.

Using logic is something local realtor Laura Altobelli stresses with the people she works with.

“I even have buyers who will apologize because we haven’t found a house, and I am like stop. Are you kidding? You have to take your time. If you were hurrying, I’d be concerned,” Altobelli said.

Altobelli says people might regret certain parts of the home-buying process but not regret it altogether. The biggest thing she’s seeing is remorse from people who didn’t buy when interest rates were lower.

“Now that interest rates doubled. I mean there’s 6.8%, 7%, so for a buyer who can spend $100,000 at that 3.8%, their buying ability has gone down,” Altobelli said.

Markets are different across the county. Here in the Valley, relisting has remained pretty low, but there have been some price drops.

“I’m showing only five of the homes in your area have been relisted. So, that’s less than that number that was quoted back on November 1, which was when Redfin said that almost 20% or about 60,000 home purchases nationwide fell out,” Freeman said.

So why are these harrowing statistics about remorse tracked?

“We can see how many home buyers are backing out of deals. Look ahead a little bit and maybe get some idea about what would be happening in home prices in the future. It doesn’t necessarily mean home prices are to be coming down, but it definitely could signal a cooling in the housing market itself.”

Freeman’s final advice was to “marry the house and date the interest rate” because rates come and go but the house is long-term. You can always refinance your mortgage later on.

Altobelli also suggests people looking for a home check in with their loan officer because the change in interest rate might change what they’re able to pay.