It’s peak home-buying season, and conditions in some of the country’s previously super-heated housing markets are dramatically different from a year ago, when homes were hard to come by and prices were sky high.
In more affordable parts of the country, such as Milwaukee and Minneapolis, home sales are doing quite well and prices are going up, Redfin’s data shows. Several large markets on the East Coast with affordable prices also saw big annual sales gains, with Baltimore up 35 percent and Orlando up 24 percent.
“Before, you could fully deduct mortgage interest and property taxes,” Yun said. “Now, as part of the state and local income tax limit of $10,000 that many people have, those expensive home real estate property taxes are becoming a big burden.” In markets that have cooled, buyers will face fewer bidding wars, giving them time to shop around and figure out what they want; maybe even negotiate on price.
The current slowdown might not last very long in some previously frenzied markets. The latest report from the National Association of Realtors shows, reversing course from February. The association’s Pending Home Sales Index, a forward-looking indicator based on contract signing, rose 3.8 percent in March. Sales activity in the West, which had been relatively stable for five months, also increased.
The real estate market is hot again — unless you're selling afflunenza envisioned McMansions.
Many home sellers are accepting minimal profits from the fallout of the housing crash. Private equity's greed in the rental market is hurting millions.
More Trump, pls 🇺🇸🇺🇸
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
Stock market dips again as US and Chinese trade negotiators meetThe stock market dipped for the fourth day at closing in the wake of Pres. Trump's decision to impose tariffs on China and as negotiators have their final round of trade negotiations in Washington. I am still stunned that in America, one person can ruin the economy with no checks or balances. Tariffs go into effect as U.S., China promise more trade negotiations ahead. Don't worry folks. China is coming to the bargaining table and the new trade agreement couldn't be any worse than the one we had. Some of you are such pessimists.
Source: ABC - 🏆 471. / 51 Read more »