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National Association of Realtors Boasts About Getting Its Top Priorities Into the Senate’s Tax Bill

The bill as passed by the Senate included NAR’s five key priorities:

A permanent extension of lower individual tax rates

An enhanced and permanent qualified business income deduction (Section 199A)

A temporary (five-year) quadrupling of the state and local tax (SALT) deduction cap, beginning for 2025

Protection for business SALT deductions and 1031 like-kind exchanges

A permanent extension of the mortgage interest deduction

Low-Income Housing Tax Credit (LIHTC): Key provisions from the LIHTC Improvement Act are included on a permanent basis to support affordable housing development.

No Changes to Carried Interest Rules

“These provisions form the backbone of the real estate economy—from supporting first-time and first-generation buyers to strengthening investment in housing supply and protecting existing homeowners,” according to a NAR spokesperson. “Real estate makes up nearly one-fifth of the entire U.S. economy, and we made sure policymakers understood that homeownership is the essential component to building wealth and a strong, prosperous middle class.”

Several other provisions in the bill championed by NAR add to its positive impact on the real estate sector:

Child Tax Credit Increased to $2,200: Permanently raises the credit, with inflation indexing. This provision could ease housing affordability for families.

Permanent Estate and Gift Tax

Threshold Set at $15 Million (Inflation-Adjusted): Prevents a sharp drop in exemption levels and supports generational wealth transfer.

No Increase to the Top Individual Tax Rate: The proposed 39.6% rate was removed from the bill.

Restoration of Key Business Provisions:

Full expensing of research and development

Bonus depreciation Fixes to the interest expense deduction limit

Immediate Expensing for Certain Industrial Structures: Applies to facilities used in manufacturing, refining, agriculture and related industries.

These Past ‘Real Estate Today’ Columns May Interest You

Clickable links for each column can be found at www.JimSmithColumns.com

May 29, 2025 — Divorcing Couples With a Home Need a Realtor With Specialized Training

May 22, 2025 — Home Sharing Helps Single Seniors Deal With Finance and Loneliness, Allowing Them to Age in Place

April 24, 2025 — Lennar to Build 1,500 Geothermal Homes; My Review of the Mustang Mach

April 17, 2025 — Redfin Report Highlights the Increasing Cost of Buying versus Renting a Home

April 10, 2025 — The Typical Wood-Frame, SiteBuilt Home So Common Since the ’90s May Soon Be a Thing of the Past

Mar. 27, 2025 — Here’s How Money Is Handled at a Real Estate Closing

Mar. 20, 2025 — Thinking of Using a Reverse Mortgage to Purchase a Home? Here’s Some Information

Mar. 13, 2025 — Will Colorado Be Able to Sustain Its ‘Green Agenda’ Under Pressure From Washington?

Mar. 6, 2025 — 62% of Americans Think a 20% Down Payment Is Required, But It’s the #1 Myth

Feb. 27, 2025 — As Society Deals With Homelessness and Affordability, Expect a Greater Focus on Manufactured Homes

Feb. 20, 2025 — We Have a Tool to Help You Find the ‘Perfect’ Home That’s Not on the MLS

Dec. 26, 2024 — As Pro-Tenant Laws Expand, Some Small Landlords Are Considering Cashing Out

Dec. 19, 2024 — What Are the Costs of Buying or Selling a Home in Colorado?

Nov. 7, 2024 — We Need to Take Seriously the Pollutants Emitted When Cooking With Gas

Oct. 31, 2024 — Cooperative Living Presents an Attractive Alternative for Downsizing Seniors

Sept. 26, 2024 — Some Thoughts on Keeping Your Death From Becoming an Undue Burden on Your Heirs

Sept. 5, 2024 — What Knowledge and Skills Should You Expect Your Real Estate Agent to Have?

Aug. 8, 2024 — Seniors Over 70 Might Consider Downsizing Into a Rental, Not a Smaller Home

July 25, 2024 — Many Homeowners Don’t Understand Title Issues, Which Could Lead to Big Problems Later On

June 6, 2024 — Here Are Some Simple Steps to Take to Avoid Unpleasant Surprises After Closing

Mar. 21, 2024 — What’s Behind the Buzz About ‘Indoor Air Quality’ and ‘Sick Building Syndrome’?

Feb. 22, 2024 — Most Sellers Don’t Know How to Interview a Listing Agent. Here’s Some Guidance.

Dec. 21, 2023 — D.R. Horton Inks Deal to Build Homes With OSB Made From Grass Instead of Wood

Nov. 23, 2023 — Scamming Has Become An Industry, and We’re All Prospective Victims

Sept. 28, 2023 — Insurance Companies Are Pulling Out of California. Is That in Our Future?

Aug. 10, 2023 — What Are Some Common Mistakes That Homeowners Make When Selling?

June 15, 2023 — Don’t Let Capital Gains Tax Deter You From Cashing Out on an Investment Property

May 11, 2023 — Do Agents Inflate the Cost of Buying or Selling Your Home with ‘Junk Fees’?

Apr. 20, 2023 — What Are Some Affordable Ways to Make Your Home More Attractive to Buyers?

Mar. 16, 2023 — Here Are Some Ways to Make Your Home More Accommodating to Seniors

Feb. 9, 2023 — Understanding Indoor Air Quality and How It’s Managed in Super-Insulated Homes

Oct. 27, 2022 — Sales Taxes May Be Lower, But Property Taxes Are Higher in Unincorporated Areas

Strengthened Opportunity Zones: Renewed with revised incentives to promote targeted investment, including in rural areas. NAR polling found that 80% of voters support such tax incentives to drive economic development in underserved communities.

The deadline for this ad was last Friday, before the House of Representatives took the Senate bill up for approval. NAR is hopeful the provisions detailed above will remain in the final version of the bill.

This article was adapted from an email newsletter article I received from NAR. I made only minor edits to it.

Some Useful Charts That Explain the June Market

The following charts were provided by Samanth Glenn of Land Title, along with this summary of the market for June 2025:

The Greater Metro Denver housing market saw active listings continue to grow in June — a 33% increase when compared to last year at this time. New listings declined when compared to last month (-19%) but were up 3% when compared to last year. Pending sales (demand) increased 6% when compared to last year, but did see a slight decline when viewed month-over-month.

The average days on market remained high at 35 days, an increase of 30% year over year. More highlights are below.

In June, active listings were down 0.2% month-over-month but remained elevated when compared to June 2024, which saw 9,866 active listings.

June saw 5,582 new listings enter the market. This data point decreased 18.7% when compared to last month, which saw 6,869 new listings. Last year at this time we saw 5,446 new listings.

Pending sales decreased by 3% when compared to last month. Last year at this time we saw 3,777 pending sales.

Look at how the months of inventory (unsold lis ngs) compare to prior years:

The ra o of closed price to lis ng price (99.1%) was the lowest of the past ve years:

June saw the average days on market at 35. Last month saw 33 days and last year at this time saw 27 days, on average.

The number of showings per listing for June was at 4.6. This was a decrease of 6.1% compared to last month. Last year at this time we saw 5.2 showings per listing, on average: