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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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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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