A high-earner would pay $88,000 less in taxes if they made a $1 million profit on their home in 2012 rather than in 2013. That considerable tax savings motivated many wealthy homeowners to move fast. According to the National Association of Realtors (NAR), sales of homes valued at $1 million or more spiked 51% in November compared with a year earlier.
Luxury home sales finished the year strong
Most Popular Articles
Latest Articles
The HELOC dam is opening. Are you ready?
U.S. homeowners are using HELOCs to access trillions in home equity amid rising interest rates. Mortgage originators should explore this area with innovative financing solutions like bank statement HELOCs.