Smyrna Vinings home sales finished out the year very strong in December 2017. While the Fed continues to hike short-term rates, we haven’t seen much impact on long-term mortgage rates yet. With the tax reform plan quickly slapped together, people are still trying to identify the impacts. What started out as a reform to simplify the tax code and to help middle class taxpayers, it appears to be getting more complex and will actually be a tax increase for a lot of people.

Mortgage interest will be capped at mortgages up to $750,000 and state and local taxes (that means state income taxes and property taxes) will be capped at $10,000. While the standard deduction was doubled, the elimination of the personal exemption makes that largely a wash. And with itemized deductions limited, you’ll see more people taking the standard deduction in the future. But with all that said, don’t expect a big impact to the housing market in the short term.

This chart shows you the past 12 months of home sales at any given point. As you’ll notice, home sales have exceedingly improved over the past eight years.

2017 Smyrna Vinings home sales are likely to continue the upward sales trends of the past couple years.

The Active Listings chart depicts Smyrna Vinings homes currently for sale. As a general rule, we’ve seen inventory increase through the May to July range and then see the amount of Smyrna Vinings homes for sale reduce towards the end of the year. While sales and months of inventory numbers vary drastically from previous years, the one thing you can count on is that inventory decreases in the last quarter of the year, as indicated above. The big difference of course is that the overall number of homes on the market is just much less than in years past due to homes selling so quickly.

As expected, there was a decrease in the number of homes for sale in December. While still higher than past years, with higher sales there’s not much cause for concern. As long as sales remain at record highs, then it won’t become an issue. Sellers are starting to understand that now is a great time to sell and take advantage of the current market. Pending home sales continued to do well in December 2017. With low interest rates, look for sales to continue to show strength in 2017 and into 2018. If you’re interested in new construction, here are all the latest Smyrna Vinings new construction homes for sale.