Lakeland FL – What Impact Will the New Tax Code Have on Home Values?

What Impact Will the New Tax Code Have on Home Values in Lakeland FL?

Are you are looking to sell or buy a home in Lakeland Florida? I’m sure you are concerned about home values. As a real estate agent, I want to be prepared to ensure that you are given the best selling and buying experience with knowledge and expertise guiding you along the way.  I research current and past inventory on a daily basis.  I want to know where the market is going in order to achieve the best deal for my clients.

I want to share with you what impact the New Tax Code will 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.

What Impact Will the New Tax Code Have on Home Values? | Simplifying The Market

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:

What Impact Will the New Tax Code Have on Home Values? | Simplifying The Market

 

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.Click To Tweet

Source… KCM Petra Norris Blog

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About the author: The above real estate article “Why sell now instead of later? The buyers are out now ” was written by Petra Norris of Lakeland Real Estate Group, Inc.  With over 20 years of combined experience of selling or buying, we would love to share our knowledge and expertise. Petra can be reached via email at petra@petranorris.com or by phone at 863-712-4207

We service the following Central Florida areas: Lakeland, Auburndale, Mulberry, Winter Haven, Bartow, Plant City, Seffner, Valrico, Polk City, Lake Alfred, Lake Wales, Haines City, and Davenport FL.

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