Tax reform had an effect on nearly half of homebuyers: Redfin

The most common effect of the tax reform was homebuyers reporting that they had lowered their price range because of the decreased benefits of higher-priced homes, Redfin reported.

Tax reform had an effect on nearly half of homebuyers: Redfin President Trump’s tax reform package had an impact on nearly half of potential buyers searching for a new home, nine percentage points less than one year ago, according to a new Redfin survey.

High-income homebuyers were the most likely to report in this year’s survey that tax reform has had some sort of effect on their home search. Of those homebuyers earning $150,000 or more, 61 percent said that the new tax law had an effect on their home search, which was true for less than half of households earning under $150,000.

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That was the overarching message from five mayors invited by the Denver Business Journal to the newspaper’s annual. “We already have nearly 20 in effect. The state has to put on their big-boy pants.

New tax law creates uncertainty for some homebuyers. Orange and Los Angeles counties had nearly 950 such sales in the year ending in November, according to CoreLogic.. “It’s going to.

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The tax reform bill passed by Congress late last year is poised to have an effect on the country’s luxury real estate industry as buyers consider moving across state lines to deal with tax rate changes. A report from Redfin found that 38 percent of prospective home buyers cited high taxes as the primary economic concern that would shape their purchasing decisions.

The most common tax-reform effect reported by homebuyers this year was that they lowered their price range because of decreased tax benefits on high-priced homes (14%, down from 16% last year). Another prevalent way tax reform has been affecting the housing market is in the form of migration to places with lower taxes, a trend we’ve noted in reports on Redfin.com user search patterns for more than a year .

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SEATTLE, May 17, 2019 /PRNewswire/ — (RDFN) – More than a year after the historic tax code overhaul, less than half of homebuyers (47%) say that tax reform has had an effect on their home.

 · Redfin believes some portion of the gains in these cities can be attributed to the $10,000 cap on state income and property tax deductions established.