We saw that the first-half sales were 4% under last year’s count – has it been getting worse lately? Yes, and the high-end is where the trouble is:
NSDCC Detached-Home Sales, July:
| Year | ||||
| 2016 | ||||
| 2017 | ||||
| 2018 | ||||
| 2019 | ||||
| Latest YoY |
We have 546 active listings of NSDCC homes priced over $2,000,000/46 = 12-month supply.
Low rates, more inventory, strong employment, and record Dow hasn’t helped much yet. But we know there’s nothing that price won’t fix!
Get Good Help!
SALT and the mortgage interest deduction being reduced to $750k is finally being felt after people did their 2018 Federal Taxes. Married couple with incomes greater than $350k especially. However, there will ALWAYS be people that are so filthy rich that taxes do not matter and they have been buying homes on Neptune and RSF for decades with all cash.
SALT and the mortgage interest deduction being reduced to $750k is finally being felt after people did their 2018 Federal Taxes. Married couple with incomes greater than $350k especially.
I disagree:
1) The $1,000,000 to $1,500,000 range is our hottest market.
2) The lower $750,000 amount only applies to new purchases. If you’re renting, the $750k interest deduction is better than nothing.
3)The move-up market already had enough reasons not to move. if you cleared all those, and had to live with an interest-deduction on a $750,000 mortgage instead of $1,000,000, it cost you about $4,000 in extra taxes max. If Mama wants a house bad enough, the $4,000 is chump change.
However, there will ALWAYS be people that are so filthy rich that taxes do not matter and they have been buying homes on Neptune and RSF for decades with all cash.
I do agree with that!