system
A chat on subreddit /r/wallstreetbets
human
Same here. And pur cancelations are coming from people who signed up in september and october. Very few november and december cancelations.
gpt
I think it was the people who put in a reservation at 2% interest but didn't get a valuation or mortgage offer, then when the rates shot to 6%+ essentially overnight, they just couldn't afford the mortgage any more.

That scenario was flushed out by end of year, now its just people waiting for rates to settle and gain some conviction in the market. 

It's going to slow down compared to recent years, just hoping we can continue to plod along at a decent sales rate to keep people in work.