The Senate heard testimony that unchanged capital gains exemptions since 1997 are suppressing home sales, with the National Association of Realtors urging Congress to double limits from 500,000 to 1 million per filer. Nearly 13 million homeowners face tax penalties that discourage selling, creating the inventory crisis affecting real estate markets and technology platforms that serve them. The bipartisan More Homes on the Market Act has 126 co-sponsors but requires resolving a $46 billion budget impact, with industry advocates signaling potential Congressional action later this year.
Read the full article at Realtor.com Blog
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Ali NematiWritten by Ali
