Aspen property sales drop following tax changes

ASPEN, Colo. - Real estate sales in Pitkin County are down sharply this year and Aspen-area agents are blaming changes to federal capital-gains tax laws.

County officials say sales were down $15 million in January, or 15 percent, from January 2012.

The sales slump continued in February, with dollar volume down another $9 million, or 20 percent.

According to the Aspen Times, the 10 percent increase in the capital-gains tax this year is being blamed for taking a toll on sales.