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When it comes to home sales, the report revealed they fell 8% in June, reversing course from May’s 2.2% increase. All in all, Redfin indicates that home sales declined annually in 80 of the 85 markets.

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The loan was taken out for home acquisition debt on a first or second home or a refinance loan up to the amount of the original mortgage. Your adjusted gross income is $109,000 or less. Homeowners with an annual income of $100,000 or more should note that the deduction decreases for every $1,000 of income you earn between $100,000 and $109,000.