More Homes on the Market Act

Key Points

• Congress would double the tax-free profit limit when you sell your main home: from $250,000 to $500,000 for most single filers.
• For married couples filing jointly, it would double from $500,000 to $1,000,000 in tax-free profit on the sale of a main home.
• Starting after 2024, these dollar limits would rise over time with inflation, so the tax break wouldn’t shrink in value.
• If it becomes law, the new limits would apply to home sales that happen after the date the law is enacted.
• Supporters say this could encourage more homeowners to sell, which could put more homes up for sale—especially in markets where prices have risen a lot.