REALTORS® Confidence Index in November Reflects Tempered Market Expectations
Economist Commentaries, by Ken Fears, Manager, Regional Economics and Housing Finance Policy
With the end of 2013 closing in, it is time to take stock of the impact from the strong 2013 housing market. Home price growth was robust in 2013 compared to 2012 and is currently forecast by NAR Research to finish the year 11.3% stronger. This improvement is important for the market as it has created equity for homeowners, boosted buyer confidence, and pulled many underwater homeowners into positive equity positions.
A borrower who purchased a median priced home in 2004 and held it for nine years, the current median tenure of a
It’s the last year for three sweet home tax benefits, but the first for a way simpler home office deduction.
These days few things start a fight on Capitol Hill faster than taxes. Despite the fact that three important tax benefits used by millions of American homeowners are days from expiring, Congress is unlikely to do anything to re-up them any time soon. So if you’re eligible, tax year 2013 is possibly the last time to claim the private mortgage insurance (PMI) deduction, the energy tax credit, and debt forgiveness benefit, all of which all expire on Dec. 31, 2013. At least there’s one piece of good news for homeowners: If you have a home office, there’s a new, simpler option for calculating the