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NAR: Tax reform proposal would dramatically alter housing landscape

Feb 28, 2014

The comprehensive tax reform discussion draft that House Ways & Means Committee Chairman Dave Camp, R-Mich., released February 26 envisions a very different picture for homeowners than what’s in place today, according to an article published by REALTOR Magazine online. NAR President Steve Brown outlined  REALTOR concerns about the proposal in a statement.

“Proposed limits on the mortgage interest deduction and capital gains, and the repeal of deductions for state and local property taxes ... will impact every single American, either directly or indirectly,” Brown said.

Click here to read details about the proposed tax reform plan and the potential effect of the envisioned changes.

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Empire State home sales stay at elevated level during April

Against the backdrop of fewer homes on the market, homebuyers in New York State closed 8,640 sales during April, falling only 2.6 percent from April 2017. The median sales price growth trend continued, increasing by nearly 12 percent compared to last April to reach $260,000 for the month. Click here to read more.

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