Latest news with #housingsales
Times of Oman
3 days ago
- Business
- Times of Oman
Real estate sales expand for 1st time in June in last 12 months, pricing growth remains firm
New Delhi: India's residential real estate market saw a notable turnaround in June 2025, as housing sales (absorption) across the top eight tier-1 cities rose 2 per cent year-on-year--the first annual growth in 12 months. This uptick comes after declines of 11 per cent and 2 per cent in April and May, respectively, and is largely attributed to the base effect fading from the high absorption seen in April-May 2024. However, every quarter, sales were still down 4 per cent YoY. According to a UBS report, city-wise sales trends were mixed. Delhi-NCR's prominent realty market Gurugram led the recovery with a 68 per cent YoY jump in volumes, followed by Chennai (24 per cent) and Hyderabad (15 per cent). On the other hand, Mumbai Metropolitan Region (MMR) saw a 29 per cent decline in volumes, while Pune and Bengaluru recorded drops of 27 per cent and 6 per cent, respectively. According to the analysis, despite volume moderation in some cities, housing prices continued to rise robustly. In June 2025, average absorption prices in top-tier cities surged 20 per cent YoY, compared to 10 per cent in May. "Pricing growth remained firm across cities, aided by healthy inventory levels (driven in turn by calibrated supply)," the report added. On a quarterly basis, prices were largely flat sequentially but still posted a solid 14 per cent YoY gain. Gurugram again led the trends with a sharp 40 per cent YoY price increase, followed by Chennai (21 per cent) and Bengaluru (14 per cent). MMR, Pune, and Hyderabad recorded more moderate gains of 8-10 per cent, signalling continued pricing resilience despite varied sales performance. The report observed that the new residential launches across major cities declined 12 per cent YoY in June, indicating a demand-calibrated approach by developers. As a result, the inventory-to-sales (I/S) ratio, which measures the amount of inventory developers are carrying compared to the number of sales orders being fulfilled across top cities, remained largely stable, rising slightly to 1.68x in June from 1.66x in May--well below the peak of 3x seen during the downcycle. Conversely, inventory levels in southern cities such as Hyderabad, Bengaluru, and Chennai increased YoY. The data confirms expectations that YoY sales trends would improve starting June as base effects fade. The UBS analysts maintain a positive outlook for MMR and Gurugram, citing strong price growth and controlled inventories, while expressing caution over Bengaluru and Hyderabad due to rising inventory ratios.
Entrepreneur
7 days ago
- Business
- Entrepreneur
Good Luck Trying to Buy a Home Right Now
It's supposed to be the busiest time of the year for real estate — but instead, it's crickets. June existing home sales fell to a nine-month low, and one in seven potential deals fell through, according to new data from Redfin and the National Association of Realtors (NAR). With 30-year mortgage rates around 6.67% at press time, and median home prices rising 2% from a year ago (now around $435,300), being a buyer is a tough draw in 2025. Daryl Fairweather, chief economist at Redfin, told the New York Times that buyers are staying on the sidelines. Related: Barbara Corcoran Says the Best Entrepreneurs Are Good at This One Thing "What it really comes down to, as always, is affordability," Fairweather told the outlet. However, even with the housing supply increasing 15.9% from one year ago, many sellers still think they can get top dollar, dreaming of pandemic days when things skyrocketed (home prices increased 40% on average from 2020 to 2022, and even higher—58%—in some markets like South Florida, per TD Bank). And though some markets have since cooled, especially on Florida's west coast, many sellers are choosing to delist rather than cut prices, says Joel Berner, a senior economist for per the New York Times. Related: This Is the Newest Real Estate Trend You Can't Miss — and It's Worth $438 Billion "Sellers still have pretty high expectations of what they can get for their homes," Berner told the outlet. Of the contract cancellations, Jacksonville, Florida, had the most, with more than one in five (21.4%) of home-purchase agreements canceled in June, per Redfin data. Las Vegas came in second with (19.7%) followed by Atlanta (19.6%). Join top CEOs, founders, and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue, and building sustainable success.
CNN
7 days ago
- Business
- CNN
Trump says he is ‘thinking about' nixing capital gains tax on home sales. Here's what that could mean for homeowners
Source: CNN In comments to the press on Tuesday, President Donald Trump suggested he is considering eliminating capital gains taxes on the sale of homes. 'We are thinking about … no tax on capital gains on houses,' Trump said. Soon afterwards, Rep. Marjorie Taylor Greene of Georgia posted her thanks to him on X for what she interpreted to be his support for a bill she introduced this month, calling for the elimination of the capital gains tax when someone sells their primary residence. Will anything come of it? Who knows. Especially since Trump just signed into law a mega tax-and-spending cuts bill that the Congressional Budget Office estimates will increase deficits on net by $3.4 trillion over a decade while at the same time knocking 10 million more people off health insurance. But should it become an idea that Congress pursues seriously, it's worth reviewing just how the capital gains tax on home sales works currently and who might benefit most if it were killed. If you sell a primary residence on which you realize a big capital gain — meaning you sell it for more than you bought it even after accounting for closing fees and qualified home improvement costs along the way — you may owe a capital gains tax on at least some of that gain. Or not. It depends. If you sell your house within a year of buying it, any capital gains will be considered short-term and you will have to pay ordinary income tax on all your gains. But if you have lived in it as your primary residence for at least 24 months (consecutively or not) in the previous five years before you sell it, you may be allowed to exempt from the capital gains tax the first $250,000 of your gains if you're single or $500,000 if you're married filing jointly Any gains above those thresholds are subject to the long-term capital gains tax. But just how much you'll pay is based on your income, broken out below. You also may get a break on the capital gains tax if you don't meet the eligibility tests but had to sell your home 'due to a change in employment, health, or unforeseen circumstances,' according to the IRS. (Note, too, that the capital gains tax rules work somewhat differently when you sell a second home or rental property.) In 2025, filers will owe 0% in capital gains tax for gains above the exemption threshold if their taxable income is below $48,350 (or $96,700 if married filing jointly), according to the IRS. They will owe 15% if their income is between $48,450 and $533,400 (or between $96,700 and $600,050 for joint filers). And any filer with income above those levels will pay a 20% capital gains rate. In all instances, however, the long-term capital gains tax rate is often below the top ordinary income tax rate a filer faces. Since the $250,000 and $500,000 capital gains exemption thresholds have not adjusted for inflation since they were set in 1997, a growing number of homeowners, especially long-time ones, may realize taxable gains even if they don't live in the highest-priced areas by today's standards. Generally speaking, three categories of home sellers are the ones most likely to have to pay the capital gains tax if they make out well selling their home: 1) Anyone living in an area where homes have appreciated greatly in recent years, especially in neighborhoods where home prices are typically well above the national average; 2) anyone who has lived in their home for decades during which time nominal home prices have shot up; or 3) anyone with high income and sufficient wealth to buy a very expensive home wherever they live. A recent study by the National Association of Realtors, which has advocated for doubling the exemption caps and adjusting them as if they'd been indexed to inflation since 1997, estimates that 29 million homeowners — about one-third — may already have enough equity in their home to exceed the $250,000 cap, while 8 million — or about one-tenth — may have enough to top the $500,000 threshold. Looking ahead, it forecasts that by 2035, close to 70% of homeowners might have gains exceeding $250,000 and 38% of them will have more than $500,000. 'In states with exceptionally high-priced markets, such as California, Massachusetts and Colorado, the trend is even more pronounced,' the report said. Broadly speaking, NAR contends, the current caps may be disincentivizing homeowners to sell. 'Over the past 28 years, home price inflation has eroded the value of these exemptions, especially for older homeowners who have lived in their home for 20 years or more. At a time when many of these homeowners are considering downsizing or moving to a retirement facility, more and more are facing gains well in excess of the exclusions, which can leave them owing many thousands of dollars in taxes and reduce their ability to afford a new home.' In another analysis, the Yale Budget Lab, using the Federal Reserve's 2022 Survey of Consumer Finances, noted that the minority of homeowners who might currently benefit if the capital gains tax were eliminated are largely wealthier, higher-income, and older on average. 'In 2022, homeowners with gains above the exemption had an average net worth of $5.7 million. For homeowners below the exemption, this number was just over $1 million,' the researchers wrote. See Full Web Article
Yahoo
7 days ago
- Business
- Yahoo
Home sales declined in June as prices hit new all-time high
Sales of existing homes dropped more than expected in June, the latest sign that record-high prices and elevated mortgage rates are extending the housing market's deep freeze. After jumping in May, sales last month fell 2.7% to a seasonally adjusted annual rate of 3.93 million, according to National Association of Realtors data released on Wednesday. Sales came in worse than expected; economists had forecast a smaller decline to a seasonally adjusted annual rate of 4 million homes. Spring is historically the busiest time of year for home sales, but all signs point to 2025 being another subdued year. June sales typically reflect homes that went under contract in April or May — the market's busy period. But mortgage rates have remained in the high 6% area for much of the year while prices hit a new record, straining affordability for buyers even when the labor market and economy look healthy. Read more: Historical mortgage rates: How do they compare to current rates? 'The mismatch — more jobs, fewer home sales — is really coming from the affordability challenges, specifically higher mortgage rates,' Lawrence Yun, the NAR's chief economist, said on a conference call to discuss the data. Year over year, the median existing home price rose 2% to a new record high of $435,300, according to NAR data. Most of the country saw a sales slump in June. The steepest declines came in the pricey Northeast where buyers still generally outnumber sellers, and home prices are rising the fastest. There, sales dropped 8% from a month earlier, while prices were up 4.2% in the last year to an average of $543,300. Sign up for the Mind Your Money weekly newsletter By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Sales contracted 4% month over month in the Midwest where for-sale inventory is also more constrained. Prices there were up 3.4% since June 2024. Only the West eked out a sales gain in June, rising 1.4% from May, though sales in that region are down 4.1% from a year earlier. Learn more: What's the best time of year to buy a house? Claire Boston is a Senior Reporter for Yahoo Finance covering housing, mortgages, and home insurance. Sign up for the Mind Your Money newsletter
CNN
7 days ago
- Business
- CNN
Trump says he is ‘thinking about' nixing capital gains tax on home sales. Here's what that could mean for homeowners
In comments to the press on Tuesday, President Donald Trump suggested he is considering eliminating capital gains taxes on the sale of homes. 'We are thinking about … no tax on capital gains on houses,' Trump said. Soon afterwards, Rep. Marjorie Taylor Greene of Georgia posted her thanks to him on X for what she interpreted to be his support for a bill she introduced this month, calling for the elimination of the capital gains tax when someone sells their primary residence. Will anything come of it? Who knows. Especially since Trump just signed into law a mega tax-and-spending cuts bill that the Congressional Budget Office estimates will increase deficits on net by $3.4 trillion over a decade while at the same time knocking 10 million more people off health insurance. But should it become an idea that Congress pursues seriously, it's worth reviewing just how the capital gains tax on home sales works currently and who might benefit most if it were killed. If you sell a primary residence on which you realize a big capital gain — meaning you sell it for more than you bought it even after accounting for closing fees and qualified home improvement costs along the way — you may owe a capital gains tax on at least some of that gain. Or not. It depends. If you sell your house within a year of buying it, any capital gains will be considered short-term and you will have to pay ordinary income tax on all your gains. But if you have lived in it as your primary residence for at least 24 months (consecutively or not) in the previous five years before you sell it, you may be allowed to exempt from the capital gains tax the first $250,000 of your gains if you're single or $500,000 if you're married filing jointly Any gains above those thresholds are subject to the long-term capital gains tax. But just how much you'll pay is based on your income, broken out below. You also may get a break on the capital gains tax if you don't meet the eligibility tests but had to sell your home 'due to a change in employment, health, or unforeseen circumstances,' according to the IRS. (Note, too, that the capital gains tax rules work somewhat differently when you sell a second home or rental property.) In 2025, filers will owe 0% in capital gains tax for gains above the exemption threshold if their taxable income is below $48,350 (or $96,700 if married filing jointly), according to the IRS. They will owe 15% if their income is between $48,450 and $533,400 (or between $96,700 and $600,050 for joint filers). And any filer with income above those levels will pay a 20% capital gains rate. In all instances, however, the long-term capital gains tax rate is often below the top ordinary income tax rate a filer faces. Since the $250,000 and $500,000 capital gains exemption thresholds have not adjusted for inflation since they were set in 1997, a growing number of homeowners, especially long-time ones, may realize taxable gains even if they don't live in the highest-priced areas by today's standards. Generally speaking, three categories of home sellers are the ones most likely to have to pay the capital gains tax if they make out well selling their home: 1) Anyone living in an area where homes have appreciated greatly in recent years, especially in neighborhoods where home prices are typically well above the national average; 2) anyone who has lived in their home for decades during which time nominal home prices have shot up; or 3) anyone with high income and sufficient wealth to buy a very expensive home wherever they live. A recent study by the National Association of Realtors, which has advocated for doubling the exemption caps and adjusting them as if they'd been indexed to inflation since 1997, estimates that 29 million homeowners — about one-third — may already have enough equity in their home to exceed the $250,000 cap, while 8 million — or about one-tenth — may have enough to top the $500,000 threshold. Looking ahead, it forecasts that by 2035, close to 70% of homeowners might have gains exceeding $250,000 and 38% of them will have more than $500,000. 'In states with exceptionally high-priced markets, such as California, Massachusetts and Colorado, the trend is even more pronounced,' the report said. Broadly speaking, NAR contends, the current caps may be disincentivizing homeowners to sell. 'Over the past 28 years, home price inflation has eroded the value of these exemptions, especially for older homeowners who have lived in their home for 20 years or more. At a time when many of these homeowners are considering downsizing or moving to a retirement facility, more and more are facing gains well in excess of the exclusions, which can leave them owing many thousands of dollars in taxes and reduce their ability to afford a new home.' In another analysis, the Yale Budget Lab, using the Federal Reserve's 2022 Survey of Consumer Finances, noted that the minority of homeowners who might currently benefit if the capital gains tax were eliminated are largely wealthier, higher-income, and older on average. 'In 2022, homeowners with gains above the exemption had an average net worth of $5.7 million. For homeowners below the exemption, this number was just over $1 million,' the researchers wrote.
