First American Chief Economist Mark Fleming was featured in a panel discussion on Fox Business' The Willis Report on May 4 discussing the status of the housing recovery.
Mark noted that existing home owners are experiencing different pressures than first-time buyers and that market expectations should segment these two kinds of buyers.
"Most of the home sales market is existing home owners. They're not bringing their homes to market because they are underwater or have insufficient equity. That is constraining demand, and that's why we see house prices rising."
Mark went on to state that there was good news in that home prices are growing more slowly so the relationship of growing incomes to growing house prices remain in better alignment.
Watch the Full Clip on Fox Business
