IRS Proposes Rule on Like-Kind Exchanges
The Internal Revenue Service has released a draft regulation to define a like-kind property that is held for investment, trade or business purposes under Section 1031 of the tax code (governing like-kind exchanges). The IRS will accept comments through Aug. 11.
A like-kind exchange under U.S. tax law is a tax-deferred transaction that allows for the disposal of an asset and the acquisition of another similar asset without generating tax liability from the sale of the disposed asset.
Under the Tax Cuts and Jobs Act, Section 1031 was limited to real property. Existing statute and regulations do not define real property for purposes of Section 1031. Determination of real property is instead accomplished using definitions obtained elsewhere in the tax code.
In addition to defining real property, the regulation seeks to clarify how taxpayers should treat certain receipts of personal property that is incidental to the real property received.
NAHB will continue to analyze the proposed regulations and plans to submit comments after a careful review.
Latest from NAHBNow
Economics
Nov 09, 2026
Remodeling Activity Holds Flat in Second Quarter Amid Housing Slowdown
Remodeling activity was flat in the second quarter amid a broader nationwide housing slowdown, according to NAHB's State Projections of Remodeling (SPR). The SPR provides a quarterly, state-by-state analysis of remodeling spending, market share and changes in spending.
Advocacy
Nov 06, 2026
NAHB Monthly Update: What the Midterms Mean for Housing
NAHB’s Monthly Update equips members and HBA staff with timely talking points on the Federation’s top housing priorities. This month’s update covers the post-election outlook for housing, progress on permitting reform and NAHB’s response to the latest WOTUS proposal.
Latest Economic News
Economics
Nov 09, 2026
Residential Building Worker Wage Growth Rebounds, but Real Wages Continue to Decline
Wage growth for residential building workers showed signs of a modest rebound in September 2026 following a sharp slowdown earlier in the year. According to the latest data from the U.S. Bureau of Labor Statistics, nominal wage growth picked up from its June pace, although it remained relatively modest.
Economics
Nov 09, 2026
Remodeling Activity Holds Flat in Second Quarter Amid Housing Slowdown
The National Association of Home Builders (NAHB) has released its State Projections of Remodeling (SPR) for the second quarter of 2026. As a reminder, the SPR provides on a quarterly basis a state-level estimation of the market share and total dollar value of remodeling spending.
Economics
Nov 06, 2026
Hiring Rebounds in October, but Residential Construction Employment Declines
The U.S. labor market rebounded in October, with nonfarm payroll employment increasing by 165,000 jobs and the unemployment rate declining to 4.1%. However, the improvement in overall employment contrasts with continued weakness in residential construction, where employment fell by 16,400 jobs, the largest monthly decline since March 2021.