Selling your home can be an exciting yet daunting process, and one of the most pressing questions you may have is, "What will it cost me?" The total expenses involved in selling a home can fluctuate based on various factors, including the sale price, any concessions you might offer to buyers, and the condition of your property.

The release of last week's inflation data has left this week with very few significant data updates. The most important information will come from various Federal Reserve members speaking on different topics. They have consistently emphasized that they will closely monitor the data to decide whether further rate cuts are needed in their upcoming rate decision meeting. Much of the market is optimistic that rate cuts will continue. Additionally, several smaller retail sales data releases are expected soon, which will provide insight into the current strength of the economy.

If you're selling your home, you might be surprised to learn that certain information regarding the sale must be reported to the IRS. This requirement stems from the Tax Reform Act of 1986 and is meant to ensure compliance with tax laws and to assist the IRS with audits.