The agency attributes the upper quantity to sellers making an attempt to unload properties earlier than potential capital beneficial properties tax will increase subsequent yr. The Biden administration has proposed growing the tax charge on long-term capital beneficial properties to 43.4% from 23.8%.
“The Biden administration got here out of the gate with some fairly draconian targets,” Mertz stated. “The present Construct Again Higher reconciliation bundle remains to be in negotiations, but it surely seems to be a lot much less extreme than the unique targets.”
The COVID-19 pandemic additionally may very well be encouraging gross sales, the corporate stated.
“We have heard from many homeowners who’re feeling a way of burnout,” Mertz stated. “Possibly they have been already occupied with a sale within the subsequent couple of years, however then the continuing pandemic simply accelerated their timelines.”
Amongst different issues, the pandemic has exacerbated existing workforce challenges in house well being, hospice and residential care, leading to operational difficulties for house owners. A current examine by consulting agency PHI and the Well being Workforce Analysis Middle on Lengthy-Time period Care on the College of California San Francisco discovered that “an immeasurably small variety of staff” who have been laid off from roles akin to direct care entered the direct care workforce.
