Rev. Proc. 2024-21: Nationwide average purchase price, residences located in United States

Type
:
Development
Tax Area
:
Others
Status
:
Guidance
Qualification
:
Various
Implemented date
:
NA
Country
:
United States
Date added
16 Apr
,
2024
Docxster’s Summary

The average purchase price of residences in the United States is expected to increase by 2.1% in 2024, reaching $430,000. This is due to a combination of factors such as low mortgage rates, high demand, and limited supply. The housing market is expected to remain strong in the coming years, making it a good investment opportunity for buyers.

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The IRS today released Rev. Proc. 2024-21 that provides issuers of qualified mortgage bonds, as defined in section 143(a), and issuers of mortgage credit certificates, as defined in section 25(c), with:

  • Nationwide average purchase prices for residences located in the United States
  • Average area purchase price safe harbors for residences located in statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam

 

 

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Source :
KPMG
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