What Is the More Homes on the Market Act—and Why It Matters
Have you heard of the More Homes on the Market Act? It’s a new bill in Congress that could help fix a big problem in the housing market: not enough homes for sale.
Here’s the issue: Right now, if you sell your main home, you can keep some profit without paying taxes. If you’re single, you can keep $250,000. If you’re married, it’s $500,000. But these limits were set in 1997—and they haven’t changed since then.
Since home prices have gone way up, a lot of people now owe taxes when they sell their home. That’s making some folks, especially older homeowners, stay put instead of moving. This means fewer homes are available for buyers.
The More Homes on the Market Act would double those tax-free limits and adjust them for inflation. That means more people could sell their homes without a big tax bill. This would help open up the housing market and give buyers more choices.
This is great news for families looking to move, seniors looking to downsize, and first-time buyers hoping to find a home.
How You Can Help
Want to see the More Homes on the Market Act become law? You can help by contacting your U.S. Representative or Senator.
Here’s how:
Go to www.house.gov or www.senate.gov.
Enter your ZIP code to find your lawmakers.
Call, email, or write a letter. Tell them you support the More Homes on the Market Act because it helps homeowners and families across America.
Let your voice be heard! When more people speak up, change can happen.
Best, Heath
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