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Underwater Home Owners Say They’re Unable to Move

by Michael Levy on July 6, 2012

in National, NEWS

House PHOTOSeveral home owners say they want to sell their home but they can’t because they still owe too much on their mortgage.

Underwater homeowners’ reluctance to sell is causing inventories of for-sale homes to shrink at a time when home buyer demand has picked up considerably, USA Today reports.

Some major markets with the least amount of supply in homes for-sale — less than a three-month supply as of May – are:

Seattle, Phoenix, Denver, Sacramento, the San Francisco Bay Area, Washington, D.C., and portions of Southern California, according to the 18 major markets Redfin tracks.

To read the full article, click here: Realtor Mag

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