December is the month for real estate deals

Bargains and tax benefits bring out the buyers before the holidays

TRD New York /
Dec.December 21, 2015 08:38 AM

The second week of the December is one of the busiest of the real estate calendar.

Contract signings jump about 10 percent on average that week, with buyers and sellers looking to take advantage of price cuts and tax incentives associated with the end of the year, according to national survey by Realtor.com.

The holiday season in general — from Thanksgiving to New Year’s Day — sees about 20 percent fewer deals at $1 million and higher, compared to the peak summer months of May and June, and listings spend about 35 percent more days on the market. But the following months are generally even worse, with volume falling an additional 10 to 20 percent below December’s numbers, the Wall Street Journal reported.

Buyers are driven by end-of-the-year price cuts. They also gain tax advantages. Buyers who finance their purchase will get benefits sooner from deductions of they close before January. And sellers who have suffered investment losses can lower their tax bills by logging gains from real estate sales the same year. [WSJ]Ariel Stulberg


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
(iStock)

Déjà vu: New home sales hit 14-year high in August

Déjà vu: New home sales hit 14-year high in August
Neiman Marcus at Hudson Yards and Geoffroy van Raemdonck (Getty)

Neiman Marcus exits bankruptcy $4B lighter

Neiman Marcus exits bankruptcy $4B lighter
Charles Rettig, Commissioner of the IRS (Getty)

Opportunity Zone rule change seeks to entice foreign investors

Opportunity Zone rule change seeks to entice foreign investors
Keith Gelb and Bill Walton with 63 and 67 Wall Street (Rockpoint, Google Maps)

Rockpoint Group settles alleged rent-stabilization violations for $5M

Rockpoint Group settles alleged rent-stabilization violations for $5M
CoStar CEO Andy Florance and CREXi founder Michael DeGiorgio (Photos via CoStar on YouTube; CREXi)

Back in court: CoStar sues rival over “massive” copyright infringement

Back in court: CoStar sues rival over “massive” copyright infringement
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...