At the national level, housing affordability is up from last month but down from a year ago. Mortgage rates increased to 4.15 percent this September, up compared to 3.78 percent a year ago.
The new tax reform legislation allows homeowners to take the deduction on their first $500,000 of mortgage debt, half of the current threshold.
Recent home buyers who were active-duty service members made up 3% of all recent buyers, and veterans made up 18% of all recent home buyers.
With less inventory, faster price growth may become a challenge for potential homebuyers.
The S&P CoreLogic Case-Shiller National Index shows that U.S. prices of single-family homes continue to rise.
Among all home buyers in the 2017 Profile of Home Buyers and Sellers, 85% purchased a previously owned home, typically a detached single-family home.
Supply conditions varied from weak to strong across states in July–September 2017 compared to conditions one year ago.
Most state and local governments charge an annual tax on the value of real property. Statewide, the real estate tax varies between 0.27% and 2.35%.
Do the social benefits of homeownership from the past still apply?
Eighty-five percent of respondents reported that home prices remained constant or rose in September 2017 compared to levels one year ago.
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