A recent survey by Redfin revealed that less than half of home buyers said 2017’s Tax Reform affected their home searches. The survey was conducted in March of over 2k U.S. residents who planned to buy or sell a primary residence in the next year.
“Last year more homebuyers were worried that tax reform would hurt their homebuying budgets, but it turns out tax reform wasn’t all bad or all good for homebuyers,” said Redfin chief economist Daryl Fairweather. “Some homebuyers, especially in low-tax states, are now paying less in taxes overall, which has left them with more cash for a more expensive home. For others, not being able to deduct as much of their property taxes or mortgage interest from their taxable income was the other shoe that needed to drop to make them pick up and move to a more affordable area.