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Pricey U.S. home sales soar as buyers ignore new tax code
A housing shortage, strong economy and robust demand have pushed many homes in major U.S. cities over $1 million, offsetting buyers’ concerns about the reduced benefits of owning a pricey property under President Donald Trump’s tax reform, data show. Home sales at $750,000 and above have surged by double digits annually in the past three years, closings data from realtor.com show for 30 counties on the east and west coasts. Sales below $750,000 are down in the past two years due to a scarcity of homes priced around $500,000 and below and the lower end’s larger market size has pulled down overall sales, the data ... (full story)