Trump’s proposed tax cuts will spark a “surprise” wave of home sales in 2018, a report warns.
The nonpartisan Tax Policy Center on Thursday said a wave of sales would hit in 2018 as the tax cuts go into effect.
“Tax cuts can be an extraordinary incentive to buy a home, especially in areas of low home prices,” said Matthew Klein, senior vice president at the Center.
While the tax bill is not set to take effect until March 2019, the tax credits and deductions will increase dramatically for new home purchases.
Home prices rose by 5.7% in the second quarter of 2018, according to the Real Estate Board of Greater Boston.