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Housing markets finally looked like they might be stabilizing when the crisis on Wall Street hit last week, shattering many home buyers’ resolve.

Glenn Kelman, founder of the online brokerage house Redfin, reports that business at his company had been humming, thanks to a steep, six-week drop in interest rates as well as the government takeover of mortgage giants Fannie Mae (FME) and Freddie Mac (FRE, Fortune 500).

But now, Kelman says that some people are pulling out of deals. “Clients have expressed their reservations about continuing the process,” in the wake of recent events, according to Redfin broker Febe Cude

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