In this clip from Friday's edition of The Macro Show, Hedgeye Housing analyst Josh Steiner discusses a recent FHFA/Redfin survey that revealed a large percentage of potential home sellers are waiting for interest rates to come down before potentially listing their home on the market.
The punchline: there's still a long ways to go before a potential "unlocking" of the existing home market.
"You're talking about a 2% drop just to get about a quarter of those thinking about listing off the fence," Steiner says. "Those are pretty big thresholds to improve the supply side."
Watch the full clip above
