What Impact Will the New Tax Code Have on Home Values?
What impact will the new tax code have on real estate values
Every month, CoreLogic releases its Home Price InsightsReport. In that report, they forecast where they believe residential real estate prices will be in twelve months.
Below is a map, broken down by state, reflecting how home values are forecasted to change by the end of 2018 using data from the most recent report.
New Tax code home values
As we can see, CoreLogic projects an increase in home values in 49 of 50 states, and Washington, DC (there was insufficient data for HI). Nationwide, they see home prices increasing by 4.2%.
How might the new tax code impact these numbers?
Recently, the National Association of Realtors (NAR) conducted their own analysis to determine the impact the new tax code may have on home values. NAR’s analysis:
“…estimated how home prices will change in the upcoming year for each state, considering the impact of the new tax law and the momentum of jobs and housing inventory.”
Benefits of the New Tax Code
Bottom Line
According to NAR, the Tax Code will have an impact on home values across the country. However, the effect will be much less significant than what some originally thought.
Source: NAR
Blog by: John McLain McLain Realty Team 908-878-9356 McLainHomeSellingTeam@gmail.com
The real estate industry is always changing and selling homes takes more work than ever before. Do not get sucked into the “old school” way of selling real estate, just hiring one agent. Hire a team of specialists dedicated and highly trained to help you find or sell your home! Firstly, the McLain Realty Team has specific award winning systems and programs to ensure homes are sold for the most amount of money and in the least amount of time. Therefore John McLain has several guarantees. Secondly, if we don’t sell your home in 66 days, John McLain will personally buy your home himself! This is also marketed as out “Trade Up” program. For Instance, when you buy one of our listings, we will buy yours! Ultimately, our guaranteed home sale programs are revolutionizing the NJ Real Estate Market. Finally our 24 month love it or leave it program puts our buyers minds at ease. For instance when you buy a home through us and don’t love it for any reason within 24 months after closing, we will buy it back or sell it for free!
