What Impact Will the New Tax Code Have on Home Values?
Every month, CoreLogic releases its Home Price Insights Report. 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.
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.”
Here is a map based on NAR’s analysis:
Bottom Line
According to NAR, the new 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. And either way, here in Fort Collins, Colorado, things are still looking up. The nearly 6% increase is right in line with everything that I’ve been talking about for the last year.
It’s easy street for sellers. And Buyers should get in before they literally cost themselves tens of thousands of dollars.
Ready to make a move?
Let’s get that Fort Collins treasure sold and get you moved into your new life.
I love to Market Like a Madwoman!
With my 20 years of marketing passion, I bring world-class marketing to each of my client’s houses.
Staging. Professional Photography. Web presence. And then add in old-fashioned hard work.
I call it Romancing Your Home. And it’s the best in the business.
I literally wake up in the middle of the night with marketing ideas for my listings. Using modern marketing tactics, I pride myself on setting the gold standard for Real Estate marketing.
Nearly 50% of the properties that I marketed last year went under-contract opening weekend. Trust me. My clients were delighted.
Personally, I love to dance (tango, west coast swing, lindy hop), surf (well, I try to), and laugh (every chance I get)!
Joyfully,
Ann
