Homeowners Are Increasingly Reluctant to Sell, But Not For The Reason You’d Expect

Key Takeaways

  • High mortgage rates are often blamed for “locking in” homeowners and discouraging home sales, but a new survey suggests there’s more to the story.
  • While many homeowners are reluctant to give up their locked-in low mortgage rates for today’s higher ones, proximity to family and friends, liking their house, and high home prices are also important.
  • The number of homes for sale may not rise much even if mortgage rates fall, economists at Fannie Mae predicted.

Homeowners are…

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