Existing home sales fell 4.9% in January to a seasonally adjusted annual rate of 4.08 million, the National Association of Realtors reported. However, sales rose 2% from a year ago. Total housing inventory in January was 1.18 million units, up 3.5% from the prior month. The median home price was $396,900, up 4.8% from the previous year.
Update: President signs ‘big beautiful bill,” includes numerous ABA-backed provisions
Included in the bill were several ABA-supported tax provisions related to banks, including a modified version of the ABA-advocated ACRE Act and the permanent extension of the Section 199A pass-through deduction rate of 20%.