The National Association of Realtors reports a 16% jump in home sales cancellations in June, four times the usual monthly 4%.

One real estate agent links buyers' cold feet to the ongoing debt ceiling debacle in Washington, with uncertainty over how the debt crisis will affect the economy and their own situation.

About 2.4% more sales contracts had been signed in June than in May, and almost 20% more than in June 2010.

Source: CNBC