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Americans Place Smaller Odds They Will Move in Next Year

Near-record home prices and lean inventory stymie sales and turnover

Americans are staying put. The Federal Reserve Bank of New York’s Survey of Consumer Expectations on Monday showed respondents see a 16.6 percent chance of changing their primary residence in the next year. That’s down from a 19.4 percent mean probability a year ago and the smallest odds since the survey began in June 2013, underscoring the challenges for the real-estate and construction industries as near-record home prices and lean inventory stymie sales and turnover.

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