Capital gains on the sale of a new home?

The rollover rule is no longer in play. For an investment property you can do what they call "like-kind exchange" which allows you to defer the capitol gains if you purchase another property. But on an owner occupied property as long as you meet the guideline of owning and lived in for 24 months out of the last 5 years there is no capitol gains incurred up to 250,000 for a single and 500,000 for a married couple. And that is not the sales price but the amount of capitol gain.