Existing-Home Sales Hit Rough Patch in February

Talk to a Realtor® in much of the country right now and they’ll all echo a similar narrative: homes are selling quickly because there are not enough listings on the market.

It’s why existing sales stumbled in February and price growth accelerated to its fastest pace in over a year (7.7 percent). Even more staggering, inventory has now fallen year-over-year for 21 straight months and homes last month sold 14 days faster than last February.

Is this an indicator of things to come as the spring buying season heats up?

One sign of hope is that a larger share of homeowners in NAR’s first quarter HOME survey said that now is a good time to sell a home. However, as NAR Chief Economist Lawrence Yun pointed out at yesterday’s press conference, new home construction is what’s really needed to slow price growth and allow supply to catch up with demand.

The first two months of 2017 have been up and down. If you’re looking for clues on how the coming months will pan out, listen closely to the sounds of drills and hammers in your neighborhood.

(Tweet this) 

EHS1

EHS2

EHS3

EHS4

EHS5

What’s Your Home Worth?

Search for Your New Home

15748 E Tumbleweed Drive Fountain Hills, AZ 85268

$1,085,000
4 Beds
2.5 Baths
2,822 SqFt
Status Active
MLS # 6740499
Property Type Single Family Residence
Price Type --
Looking for a home you don't have to do anything to because it is all new? You found it! Come see this newly remodeled home today. Enjoy cooking in this gourmet kitchen with Cafe Appliances, marble countertop with a plenty of storage. The open concept common area is perfect for entertaining. Use the Arizona Room as a den, yoga room, playroom, or gym as it has its' own brand new mini split. The massive primary room has a vaulted ceiling and a spa like bathroom with TWO closets! Large guest room off the garage has a walk in closet and can be used as a bedroom or a flex room of your choice. On the other side of the house are two more bedrooms and a full bath with an oversized shower/tub, private toilet room, linen cabinets and direct access to a bedroom. Step outside and enjoy the resort like backyard with a pool, spa, turf and oversized patio that spans the back of the home. Need more space to store things? The side yard has a great private area you can add a large storage shed to. One AC unit is brand new, the other is three years old and the mini split is new. All new flooring, cabinets in kitchen and bathrooms, new roof with 10 year warranty, new irrigation both front and back, new interior doors, new paint inside and out, new trim and baseboards, all new lighting and ceiling fans throughout, new turf, new spa heater, new Kool Deck and so much more. Come see the home for a detailed list. This home was designed by a professional designer and won't last long.

5681 W Abraham Lane Glendale, AZ 85308

$1,085,000
4 Beds
3 Baths
3,023 SqFt
Status Active
MLS # 6743499
Property Type Single Family Residence
Price Type --
In the much sought-after Arrowhead Lakes subdivision and backing up to an Arnold Palmer designed golf course The Legends at Arrowhead Ranch Golf Course. This house overlooks the Pro Tee Box of the 15th Hole as well as the rolling hills and lake of the golf course. Mohawk wood laminate flooring throughout except carpet on the stairwell and Slate tile at entry, kitchen. High vaulted ceilings. Master and BR2 on main. Island kitchen with Whirlpool stainless appliances (Kitchen Aide Refrigerator with matching oak cabinet door fronts). Living room with panoramic golf and lake views. Balcony off Kitchen and Master access points overlooking golf course. Downstairs: 2 bedrooms; a full bath; Laundry; Family room with fireplace and entertainers wet bar. Short term rental permissible.

297 W Chase Street San Tan Valley, AZ 85143

$1,084,500
5 Beds
4 Baths
2,791 SqFt
Status Active
MLS # 6777896
Property Type Single Family Residence
Price Type --
Prepare to be amazed! Indulge in luxury with this exceptional 5-bed, 4-bath estate on over an acre in a gated community. Nestled on a prime cul-de-sac lot, this home offers lush landscaping, a three-car garage and a private putting green. Inside, enjoy soaring vaulted ceilings, rich wood-look tile, a cozy fireplace, upgraded fans and light fixtures, and a sophisticated color palette. The chef's kitchen boasts quartz countertops, crown-molded cabinetry, a spacious pantry, stainless steel appliances, and a waterfall central island. The resort-style backyard is designed for relaxation and entertaining, featuring an upgraded self-cleaning pool with heating and chiller options. Lounge under the sleek cantilevered pergola with misters, sip from the built-in kegerator, and take in breathtaking views and beautiful sunsets framed by a view fence to your own unobstructed mountain view. Act now to make this dream home yours!

28848 W Grand Avenue Wittmann, AZ 85361

$1,080,000
5 Beds
3 Baths
3,504 SqFt
Status Active
MLS # 6740023
Property Type Single Family Residence
Price Type --
Welcome to 28848 W Grand Ave, Wittmann, AZ 85361! This charming property is a perfect blend of rural tranquility and modern convenience. Set on an expansive lot, this home offers ample space for all your outdoor activities and creative landscaping ideas. Enjoy the comfort of a well-designed layout featuring 5 bedrooms and 3 bathrooms, perfect for family living or hosting guests. The kitchen is equipped with stainless steel appliances, making meal preparation a delight. The property boasts a generous yard, ideal for gardening, entertaining, or simply relaxing under the Arizona sky. There's also plenty of room for RV parking or other recreational vehicles. Situated in the peaceful community of Wittmann, you'll experience the best of both worlds—serene country living with easy acces s to nearby amenities and major roadways. Whether you're looking for a family home or a peaceful retreat, 28848 W Grand Ave offers a unique opportunity to enjoy the best of Arizona living. Don't miss out on making this beautiful property your own!

2507 E Scarlet Bugler Circle Payson, AZ 85541

$1,080,000
4 Beds
3 Baths
3,360 SqFt
Status Active
MLS # 6786130
Property Type Single Family Residence
Price Type --
Escape to the serene beauty of Chaparral Pines! This elegant 3,360 SF home is a true gem, perfectly located on a quiet cul-de-sac, Nestled among towering Ponderosa Pines, it boasts breathtaking views of the 17th fairway. The outdoor space of this Mountain home is a showstopper with a massive deck and balcony, perfect for entertaining or unwinding. Equipped with a built-in BBQ, a nearly-new hot tub, and a smoker (included!), it's the ultimate spot to take in the fresh air and stunning views. CLICK The expansive great room captivates with soaring vaulted Tongue & Groove ceilings, a floor-to-ceiling wood-burning fireplace, and a wall of windows that flood the space with natural light. The gourmet kitchen impresses with quartz countertops, knotty alder cabinetry, a 6-burner gas stove, double ovens, and a wine fridgeperfect for entertaining. The luxurious master suite features a gas fireplace, private deck access, dual vanities, a jetted tub, and an updated tiled shower. With a brand-new roof (2024), fresh exterior paint, and a 2.5-car garage with a golf cart bay, this home is move-in ready. Just steps from the Pro Shop, driving range, and restaurant, and with access to Chaparral Pines' world-class golf and amenities, this property is the ultimate mountain retreat!

48515 N 13th Avenue New River, AZ 85087

$1,080,000
4 Beds
3.5 Baths
3,065 SqFt
Status Active
MLS # 6747472
Property Type Single Family Residence
Price Type --
End Lot on Acre+ Property backs up to State Land for Incredible Unobstructed Views. 4 BD 3.5 BA, high quality semi-custom home. Oversize 3 car garage, 8' doors. No HOA, oversized iron front door, pavers, large kitchen island with quartz counter tops and Knotty Birch Tahoe Ash Cabinets throughout. All bedrooms have walk-in closets. Master bath has shower, standalone tub and double sinks. 8' doors throughout. Energy efficient. SubZero 48'' built in fridge Wolf gas range and microwave. Upgraded lighting and ceiling fans. Adobe Home Surround. Upgraded designer tile. Crystal whole home water system. Storage cabinets in garage. Upgraded window coverings. Re-engineered and excavated entire lot with permits. Installed landscape rock and drains, perimeter view fencing in rear yard, Iron Gates and

15035 E Tequesta Court Fountain Hills, AZ 85268

$1,079,900 - 4Br/3Ba -  for Sale in Fountain Hills Az Fp 508 Repl 1-88 A,b, Fountain Hills
Open House
$1,079,900
4 Beds
2.5 Baths
3,002 SqFt
Status Active
MLS # 6756606
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the prestigious North Heights Community! Nestled on a serene cul-de-sac lot, this expansive single-story residence offers breathtaking views and a meticulously designed split floor plan. Spanning 3,002 square feet, this home features 4 bedrooms, 2.5 bathrooms, and a convenient side-load 2-car garage. The heart of the home is the gourmet kitchen, complete with a large island, stainless steel appliances, and dual ovens—perfect for both everyday living and hosting. The primary bedroom is a true retreat, boasting vaulted ceilings, an ensuite bath with dual sink vanities, an oversized tub, a separate shower, and a spacious walk-in closet. There's your private backyard oasis, where you'll find a sparkling Pebble Tec pool with a tranquil waterfall, a covered... patio for relaxation, and plenty of space to enjoy the stunning surroundings. This home combines luxury, comfort, and privacy in a highly desirable location. Don't miss your opportunity to make it yours!

2614 W Languid Lane Phoenix, AZ 85086

$1,079,000
4 Beds
3 Baths
3,520 SqFt
Status Active
MLS # 6775040
Property Type Single Family Residence
Price Type --
Welcome home to your tranquil retreat! Experience 270-degree breathtaking mountain views from this magnificent hilltop estate. A private pavered courtyard and custom iron and glass door create a grand entrance. Step inside to a stunning rotunda foyer with custom tile inlay. The formal living room features a central gas fireplace, surrounded by custom cabinetry and recessed lighting. Shuttered windows allow for adjustable ambiance throughout. The elegant dining room, enhanced by a candelabra chandelier, offers close mountain views, with a convenient Butler's Pantry nearby. The gourmet kitchen boasts granite countertops, Bosch & Jenn-Air appliances, and a central island, seamlessly connecting to the family room and breakfast area. Tumbled travertine and wood floors accent the cherry cabinetry in the great room. The master suite, featuring a spacious his & her walk-in closets, includes private access to the covered patio, pool, and spa. The backyard is perfect for entertaining with an outdoor BBQ, island bar, and gas firepit. Owned solar panels and a new 21 SEER HVAC system add efficiency. Pride of ownership is evident throughout this exceptional residence. This exclusive community offers a wealth of amenities for an active lifestyle, including a resort-style pool, a sand volleyball court, a community park, a basketball court, and tennis courts. Whether enjoying a sunny day at the pool or playing a game of tennis with friends, this community enhances the best of Arizona living. Stunning sunsets and starry skies complete the serene environment, making every day a getaway.

3331 N 63rd Street Scottsdale, AZ 85251

$1,079,000
4 Beds
3 Baths
2,010 SqFt
Status Active
MLS # 6746946
Property Type Single Family Residence
Price Type --
Welcome to this beautifully remodeled home nestled in the desirable Arcadia Lite neighborhood with NO HOA. This single-level gem offers 4 spacious bedrooms, 3 modern bathrooms, and just over 2,000 square feet of comfortable living space. Step inside to discover a fresh, contemporary interior with upgraded finishes, and an open-concept layout that's perfect for both relaxing and entertaining. The home boasts a brand-new roof, ensuring peace of mind, while the refinished pool in the private backyard invites you to enjoy Arizona's sunshine year-round. This home is in a prime location, just minutes from the vibrant dining, shopping, and nightlife of Old Town Scottsdale, making it an exceptional Airbnb... investment opportunity. Whether you're looking for a full-time residence or a vacation rental, this property offers the perfect blend of charm, comfort, and convenience. Don't miss your chance to own a piece of Arcadia Lite!

17952 E Cindercone Road Rio Verde, AZ 85263

$1,079,000
3 Beds
3.5 Baths
2,693 SqFt
Status Active Under Contract
MLS # 6660806
Property Type Single Family Residence
Price Type --
Nestled within the exclusive golf community of Trilogy at Verde River, this luxury haven epitomizes refined living. This Latigo model offers over 220k in upgrades and unveils 3 total bedrooms, 3.5 bathrooms, a den/office, and the casita has a private entrance from the front courtyard. Situated on an expansive 8,802 sq ft lot, revel in the luxury of an oversized yard boasting a spa with breathtaking mountain views. Step into elegance as hardwood floors and neutral wall tones create a timeless backdrop, complemented by numerous upgrades throughout. The kitchen is a culinary masterpiece, boasting granite countertops, staggered cabinets, stainless steel appliances, and a spacious island with a breakfast bar. The great room is beautiful with a striking mountain view and an abundance of natural light, creating a warm and inviting atmosphere. The primary suite is a spacious retreat featuring recessed canned lighting, a ceiling fan, and a spa-like ensuite with a dual sink vanity, a separate fully tiled shower, a soaking tub, and a walk-in closet. The den/office is finished with a built-in bookcase and French glass doors. Bedroom 2 is equally luxurious with recessed canned lighting and an ensuite bathroom. The casita, accessible through a private entry, is a guest's haven, offering a bedroom, a small refrigerator, built-in cabinets, a walk-in closet, and an ensuite bathroom. The backyard is a dream, boasting unbeatable mountain views from the spa. The covered patio is an ideal spot for dining with a view, creating a picturesque setting. The garage is temperature controlled, has epoxy floors, built-in storage cabinets, and overhead storage rack. Don't miss the opportunity to own this gorgeous home, where luxury meets unparalleled beauty in Trilogy at Verde River. Furniture available on a seperate bill of sale. The amenities at Verde River are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickleball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails.

4430 Bandana Court Wickenburg, AZ 85390

$1,075,500
3 Beds
2.5 Baths
2,390 SqFt
Status Active
MLS # 6757842
Property Type Single Family Residence
Price Type --
Discover the epitome of refined living in Wickenburg Ranch, Arizona's premier active adult lifestyle community. This exceptional residence offers 3 bedrooms and 2.5 bathrooms, blending elegant design with modern comforts. Step inside to find an open-concept gourmet kitchen featuring expansive granite countertops, top-of-the-line appliances, and ample prep space—perfect for culinary enthusiasts. The spacious great room, highlighted by a large sliding glass door, seamlessly connects to an inviting outdoor living area. The home's master suite is a sanctuary of tranquility, complete with a generous walk-in closet and a luxurious en-suite bath. Enjoy the serene beauty of the landscaped backyard, which boasts a heated pool and low-maintenance turf, ideal for relaxation and entertainment. Residents of Wickenburg Ranch enjoy have world-class amenities, including an 18-hole championship golf course, The Big Wick, and the fun executive par 3 course, Little Wiki. Stay active with access to state-of-the-art health and fitness clubs, and savor dining and socializing in various food and beverage establishments. Experience unparalleled luxury and an active lifestyle in this stunning homewhere every day feels like a retreat.

12825 W Bethany Home Road Litchfield Park, AZ 85340

$1,075,000
4 Beds
2.5 Baths
2,960 SqFt
Status Active
MLS # 6781394
Property Type Single Family Residence
Price Type --
GORGEOUS TRI-LEVEL CUSTOM home with 4 bed 2.5 bath on 3+acre lot w/ OWNED SOLAR, POOL, and AMAZING MOUNTAIN VIEWS!!! See UPDATES list in docs tab! NO HOA, RV GATES on BOTH SIDES of the property an RV carport, 2-car garage, workshop and plenty of parking space for your desert toys, cars, and trucks! This UNIQUE floor plan offers tile and carpet floors, neutral paint, abundant natural light, modern ceiling fans, and several access doors to patios. The spacious great room opens up to 2 patios perfect for entertaining! Large modern kitchen has FARMHOUSE SINK, mosaic backsplash, ample granite counter space, SOFT CLOSE DRAWERS, SS appliances, RO, massive island w/breakfast bar, pantry, rows of white cabinets, drawer microwave, built-in WINE FRIDGE, extra recessed lighting, and pendants . Family room w/dry bar and game room off garage offer extra living space and entertaining options! Downstairs bedroom with 1/2 bath great for guests or home office! Upstairs, the main retreat features private access to a huge balcony, oversized walk-in closet, and gorgeously updated bathroom with walk-in shower and dual sinks. Both secondary bedrooms share modern updated hall bath, and have extended sitting areas perfect for a gaming niche, glam vanity table, or homework space! Convenient upstairs laundry room also provides balcony access! Fall in love with this massive lot boasting covered patios, an ample wrap around deck/balcony, a sparkling blue deep DIVING pool, and so much more space for your landscaping ideas or bringing your animals to frolic in the field. Surveyed property offers options for you to build out your dreams! Don't miss this unique opportunity!!

Leave a Reply

Your email address will not be published.