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.
[caption id="attachment_26067" align="alignnone" width="300"] New Tax code home values[/caption]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 analysisto 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.”Source: NAR
[caption id="attachment_26068" align="alignnone" width="300"] Benefits of the New Tax Code[/caption]
Bottom LineAccording to NAR, the 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.
Blog by: John McLain McLain Realty Team 908-878-9356 McLainHomeSellingTeam@gmail.com
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