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What's Preventing Homeowners From Listing?

Rising home prices are not the primary dynamic preventing existing homeowners from listing their homes for sale, First American's chief economist Mark Fleming tells GlobeSt.com.

By Carrie Rossenfeld | carrierossenfeld | Updated on October 05, 2017

Mark Fleming Fleming: “As rates rise, the mortgage rate on the home purchased is higher than the mortgage rate on the home sold, which creates a disincentive to move.”

SANTA ANA, CA—Rising home prices are not the primary dynamic preventing existing homeowners from listing their homes for sale, First American Financial Corp.‘s chief economist Mark Fleming tells GlobeSt.com. Fleming says, according to the firm’s latest Real Estate Sentiment Index (RESI), “one critical reason for the supply constraint is that existing homeowners are unwilling to list their homes for sale for fear of not being able to find something to buy.”

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