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“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,” says NAR President Steve Brown.
Housing affordability for teachers is in particularly dire straits in the Golden State, where 83 percent of homes in California are unaffordable on a teacher's salary, according to Redfin.
While national employment growth has been tepid in recent years relative to typical economic recoveries, some markets have done very well. Roughly a third of markets covered by NAR have outperformed the national average over this time period.
More home buyers and current home owners are weighing the merits of a "green" mortgage, which allows them to finance home improvements that will lower long-term energy costs.
Mortgage applications for home purchases fell nearly 4 percent in the week ending Feb. 21 from the week prior, hitting their lowest level since 1995, the Mortgage Bankers Association reports.
Single-family new-home sales surged in January to a five-and-a-half-year high, giving the industry new hope that the new-home sector isn't heading for a slowdown this spring after all.
Home equity lines of credit, once popular during the housing boom days, are back, but home owners are using them more cautiously, lenders say.
As tax time approaches, HousingWire takes a look at the housing markets with some of the lightest tax burdens.
The average new-home size has increased more than 300 square feet since 2009, filling the extra space with more bedrooms, bathrooms, and amenities.