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As Congress ramps up work on a sweeping tax reform package, the National Association of REALTORS®’ Advocacy Scoop podcast dives into what’s at stake for real estate—and what voters think about it.
In the latest podcast episode, released today, hosts Shannon McGahn, NAR’s executive vice president and chief advocacy officer, and Patrick Newton, the association’s vice president of advocacy communications, walk through the results of a new consumer survey. It reveals broad public support for tax policies that support a healthy housing market.
“Americans strongly support tax reform solutions that address inflation and help families who are struggling in today’s economy,” says McGahn. “We found more than 80% of voters support key provisions that impact the real estate economy, from deductions for small businesses to incentives for community investment and housing development.”
Among the survey’s top findings:
- 92% favor tax-free savings accounts for first-time home buyers.
- 91% want to preserve tax incentives like the mortgage interest deduction.
- 86% support keeping lower-income tax rates for individuals and married couples.
- 83% back the 20% deduction for independent contractors and small businesses earning under $400,000.
- 67% support raising the capital gains exemption on the sale of a primary residence.
The survey also explored the State and Local Tax (SALT) deduction issue, a key NAR advocacy priority. The survey found 61% of voters support increasing deduction limits or removing limits altogether.
The national survey of 1,000 registered voters was commissioned by NAR and conducted by Public Opinion Strategies and Hart Research April 3-6, 2025. It has a margin of error of 3.10%.
Taking the Message to Capitol Hill
In the podcast, McGahn and Newton also preview NAR legislative priorities ahead of the REALTORS® Legislative Meetings, which take place May 31–June 5 in Washington, D.C. Some 8,000 REALTORS®, members of NAR, are expected to attend the conference and many will meet with lawmakers and staff on Capitol Hill. With the tax bill debate entering a new phase in Congress, McGahn says, “the timing couldn’t be better for our members to deliver this message in person.”
In addition to favoring the extension of several tax provisions set to expire this year, NAR is advocating for reforms to unlock housing inventory and expand access to homeownership.
“There are current homes that could be available—inventory that’s being held back—because of disincentives like the outdated capital gains thresholds,” McGahn says. She’s referring to the maximum capital gain that taxpayers can exclude on the sale of a primary residence, a figure that hasn’t increased since 1997 despite a significant increase in the average home’s value over the past three decades.
With major decisions in Congress on the horizon, McGahn says, the voter poll “arms REALTORS® with facts and public opinion to help influence a better outcome for consumers, property owners and the real estate economy.”
To hear the full polling results, stream the episode online, or listen on Spotify, Apple Podcasts or wherever you get your podcasts.