NAR Data Shows Now Is a Great Time to Sell!

We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. Two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now continues to be a great time to sell your house.

Let’s look at the data covered in the latest REALTORS® Confidence Index and Existing Home Sales Report.

REALTORS® CONFIDENCE INDEX

Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) that home-buying demand continued to outpace supply in May.

The map below illustrates buyer demand broken down by state (the darker your state, the stronger the demand is there).

In addition to revealing high demand, the index also mentioned that “compared to conditions in the same month last year, seller traffic conditions were ‘weak’ in 24 states, ‘stable’ in 25 states, and ‘strong’ in D.C and West Virginia.” 

Takeaway: Demand for housing continues to be strong throughout 2017, but supply is struggling to keep up, and this trend is likely to continue into 2018.

THE EXISTING HOME SALES REPORT

The most important data revealed in the report was not sales, but was instead the inventory of homes for sale (supply). The report explained:

• Total housing inventory rose 2.1% to 1.96 million homes available for sale
• That represents a 4.2-month supply at the current sales pace
• Unsold inventory is 8.4% lower than a year ago, marking the 24th consecutive month with year-over-year declines

According to Lawrence Yun, Chief Economist at NAR:

“Current demand levels indicate sales should be stronger, but it’s clear some would-be buyers are having to delay or postpone their home search because low supply is leading to worsening affordability conditions.”

In real estate, there is a guideline that often applies; when there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see appreciation. Between 6-7 months is a neutral market, where prices will increase at the rate of inflation. More than a 7-month supply means we are in a buyer’s market and should expect depreciation in home values.

As we mentioned before, there is currently a 4.2- month supply, and houses are going under contract fast. The Confidence Index shows that 55% of properties were on the market for less than a month when sold.

In May, properties sold nationally were typically on the market for 27 days. As Yun notes, this will continue, unless more listings come to the market.

“With new and existing supply failing to catch up with demand, several markets this summer will continue to see homes going under contract at this remarkably fast pace of under a month.”

Takeaway: Inventory of homes for sale is still well below the 6-month supply needed for a normal market. And the supply will continue to ‘fail to catch up with demand’ if a ‘sizable’ supply does not enter the market.

Bottom Line

If you are going to sell, now may be the time to take advantage of the ready, willing, and able buyers that are still out searching for your house. Give me a call for more information – J.P. Cook – 602-320-4253.

What’s Your Home Worth?

Search for Your New Home

Listing types.

For Sale

For Rent

Land

Multifamily

Commercial

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Distressed

Open House

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Price MaxAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Neighborhood

Address, MLS# or Keyword

Location Search Nearby

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

School District

Address, MLS# or Keyword

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Address, MLS# or Keyword

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

View As: Thumbnails List

Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

8247 E Devonshire Avenue Scottsdale, AZ 85251

$1,199,999

5 Beds

3 Baths

2,725 SqFt

Status Active

MLS # 6748054

Property Type Single Family Residence

Price Type --

Nestled in OLD TOWN, this extraordinary 5-bedroom, 3-bathroom home offers more than just living space, it provides a lifestyle of luxury and convenience. Currently operating as a VERY successful Airbnb was renovated in 2019, a new kitchen, remodeled bathrooms, and fresh paint throughout. Outside, the allure continues with low maintenance landscaping, a heated pool, and spacious covered patio, perfect for outdoor relaxation and entertaining. With easy access to HWY 101 and 202, Scottsdale Fashion Square Mall, dining, and entertainment options are mere minutes away, ensuring you're never far from excitement. This home offers the quintessential Scottsdale lifestyle. ********* Owner financing available with below market interest rates. STR financials available upon request.request. ****** This home offers the quintessential Scottsdale lifestyle.

View Property

21211 N 38th Place Phoenix, AZ 85050

$1,199,999

4 Beds

3.5 Baths

3,552 SqFt

Status Active

MLS # 6751849

Property Type Single Family Residence

Price Type --

FULLY remodeled home in Fireside at Desert Ridge Community. The first floor features a kitchen to living room open concept with soaring ceilings, 1/2 bath, dining room, office & en suite guest room. 2nd floor includes a loft, 2 guest rooms, full bath and primary bedroom. Interior upgrades include new flooring & paint throughout. Kitchen-Custom island & breakfast nook, resurfaced cabinets, backsplash, high end ss appliances & sink. Living Room-new entertainment center with oversized fireplace & built in wine fridge. All bathrooms-upgraded floor tile, countertops, sinks, tiled showers & glass doors. Exterior upgrades-full home paint, front courtyard pavers & gas fireplace, lighting, turf, gazebo & misters.

View Property

25751 S 227th Way Queen Creek, AZ 85142

$1,199,950

4 Beds

3.5 Baths

3,796 SqFt

Status Active

MLS # 6665049

Property Type Single Family Residence

Price Type --

This home really has it ALL! Gorgeous, Luxurious and Practically brand new, this beautiful single level home in the Harvest is waiting for you!! Why wait for new construction when all of the work has been done here. This stunning property is the David Weekley former model home, it's upscale, stylish and boasts an open floor plan with ample natural light. The chef's dream kitchen features white cabinetry, stainless steel appliances, quartz backsplash, quartz counters, and a prep island with a breakfast bar. The owner's retreat will tickle all of your senses with a dual-sink ensuite, soaking tub, tiled walk-in shower, plus his and her separate closets. The den of the dining is perfect for entertaining and the bonus room between the guest bedrooms is great for kids! Don't miss this opportunity to claim your dream home! Outside, you will find the serene backyard oasis complete with a gas fire pit, covered patio, artificial turf, and lovely gazebo with BBQ & Bar. Insulated garage. See the extensive upgrades list and builders floor plan in the documents section. Truly this home really has it ALL!

View Property

W Hooper Trail Unit 3 Queen Creek, AZ 85144

$1,199,900

4 Beds

3 Baths

2,837 SqFt

Status Active

MLS # 6355421

Property Type Single Family Residence

Price Type --

Gorgeous Premium View Lot cornering up to the San Tan Mountain Regional Park, new 4 bdrm to be built. Standard features include 4-car garage, tile roof, covered patio, granite throughout, stainless appliances, and attached RV garage. Buyer chooses flooring, cabinets, granite, paint, etc. NO HOA! Estimated completion is 7-8 months from ground-breaking. Drive by only at this time.

View Property

4839 E Crocus Drive Scottsdale, AZ 85254

$1,199,900

3 Beds

2 Baths

2,174 SqFt

Status Active

MLS # 6770113

Property Type Single Family Residence

Price Type --

This fully remodeled, awe-inspiring corner lot home has everything you've ever dreamed of! Sheer beauty & mesmerizing attention to details are found inside. New high-end finishes, new dry wall, fresh soft paint, LVP flooring, all new windows & doors, and recessed lighting are worth mentioning. The bright & spacious open floor plan boasts a wall-mounted fireplace that adds a touch of elegance to the space. The gourmet kitchen is equipped with mosaic tile backsplash, gleaming stainless steel appliances, sleek quartz counters, and a waterfall breakfast bar. Don't miss the breakfast nook with a clear view of the backyard. Grand owner's retreat will undoubtedly become your personal sanctuary, showcasing direct outdoor access and an elegant ensuite comprised of dual sinks, a garden tub, a large enclosed glass shower, and a walk-in closet. Oversized backyard is the perfect spot to enjoy memorable gatherings, complete with a covered patio, grassy area, and a sparkling pool. All new electrical, plumbing back to box, and redone stucco siding! Located in Popular Greenbrier East within the magic 85254 zip code. This gem has it all!

View Property

3567 E Hazeltine Way Queen Creek, AZ 85142

$1,199,900

3 Beds

2.5 Baths

3,211 SqFt

Status Active

MLS # 6752610

Property Type Single Family Residence

Price Type --

Situated on an interior N/S lot in a secluded gated comm. Feat. a great room split floor plan w/3 bedrooms + den & formal dining. Shutters & luxury vinyl plank flooring t/o. Surround sound w/in-ceiling speakers. The gourmet kitchen features a HUGE 10.5x7.5ft island/breakfast bar w/granite slab counters & tile backsplash, a butler's pantry, lots of cabinets w/hardware & crown molding. Stainless steel appliances incl. gas cook top, double ovens & B/I micro. Huge owners suite w/10ft ceilings & sep exit to patio. Step out the 4 panel sliding glass door to a resort backyard w/a covered patio w/2 fans, speakers & b/I bbq. Putting Green & Gas Firepit. Heated Pebble-tec pool/spa w/swim up bar w/stools, baja step & rock waterfall grotto. Step down into the amazing ramada to relax & or to entertain ...Insulated 4 car garage w/epoxy floors, cabinets, 4 dedicated electrical outlets & service door. RV Gate with pavered front for extra parking. The laundry room features cabinets, a sink & access from owners closet. Plus soft water, whole home water conditioner & r/o systems. Spacious Owners' Suite with 10ft ceilings w/crown molding. Walk-in Tiled shower in owners' bath. Guest bath features granite counters and double copper sinks. Tankless water heater and more. Pavered driveway with courtyard entry with soothing fountain. Private gated community. Spectacular San Tan Mountain Views. Stone imported from Turkey on Ramada, Outdoor Kitchen, Raised Spa & Firepit. Remote controlled shade screen at patio. City of Gilbert services, Chandler Schools.

View Property

1372 E Lovebird Court Gilbert, AZ 85297

$1,199,900

5 Beds

3 Baths

4,000 SqFt

Status Active

MLS # 6749965

Property Type Single Family Residence

Price Type --

Welcome to this beautifully maintained home, lovingly cared for by its original owners. This exceptional property is situated on a quiet cut-de-sac, that provides ample parking. There is an adjacent walking path, green space and a volleyball court. The home has been thoughtfully updated throughout, ensuring a modern aesthetic and timeless appeal. You'll feel the attention to detail that makes this house a home. There are spacious living areas that include a bonus room, perfect for a teen hangout, home gym or guest space. The highlight of the property is the resort-style backyard, that includes a diving pool, hot tub, outdoor kitchen and fire pit. It's an ideal spot for relaxation and entertaining. There are many options for additional storage, including overhead garage racks, cabinets and an outdoor shed. The property is conveniently located near shopping, restaurants and the San Tan freeway. Don't miss the opportunity to make this property your own! All tv's convey.

View Property

20535 E Excelsior Court Queen Creek, AZ 85142

$1,199,900

5 Beds

3.5 Baths

4,000 SqFt

Status Active

MLS # 6756482

Property Type Single Family Residence

Price Type --

Amazing 4,000 sqft Custom Home on 1acre Irrigated Citrus Lot. This Home Offers 5 Bedrooms and 3.5 Bath in the Main House with Basement for 'Multi-Generational Living. A Studio Suite is above the Garage and a Office in the Garage as well. Wonderful Patio Area with 'water misters' for Entertaining and Relaxing - with retractable TV! It also has a Home Automation System. New Carpet in Main House. Close to Schools, Shopping and Entertainment. A Must See!

View Property

9847 E Preserve Way Scottsdale, AZ 85262

$1,199,800

4 Beds

3.5 Baths

2,828 SqFt

Status Active

MLS # 6781821

Property Type Single Family Residence

Price Type --

Introducing you a fantastic property with pool & spa combo in the Gated Preserve Summit! Desert landscaping, sweet curb appeal, and 2-car garage. Split floor plan thoughtfully laid out with formal dining room, 3 bedrooms in the main house plus guest, 3.5 bathrooms, and an ample living room. Media niche, fireplace, pre-wired surround sound speakers complete the living area! Plantation shutters and fire sprinklers throughout the home. The eat-in kitchen showcases walk-in pantry, granite counters, center island w/breakfast bar, built-in appliances, pot filler, plenty of cabinets, tile backsplash, and backyard access. Spacious main bedroom provides French doors to the backyard and an ensuite with a jetted tub, two vanities, large shower, and walk-in closet. There's a Jack and Jill bathroom for convenience. One of the bedrooms features its own entrance/exit, which makes it perfect for an office! Serene backyard offers two fireplaces, a built-in BBQ, a covered patio, and a heated pool and spa combination for taking a dip all year round. You don't want to miss this home!

View Property

1916 E Primrose Path Phoenix, AZ 85086

$1,199,500

4 Beds

2.5 Baths

3,308 SqFt

Status Active

MLS # 6784250

Property Type Single Family Residence

Price Type --

Seller will carry! Nestled on a HUGE 1-acre lot, this gorgeous horse property is a dream come true. The home exudes elegance throughout with tall ceilings, recessed lighting, a neutral palette, abundant natural light, and wood-look tile flooring w/plush carpet in bedrooms. You'll love the semi-open layout, which perfectly balances privacy and connectivity! The large living area is paired with a stone accent wall and multi-sliding doors merging the inside/outside activities. The gourmet kitchen boasts sleek SS appliances w/cooktop elec, granite tile counters, ample wood cabinetry, a walk-in pantry, and a breakfast bar. Enter the primary bedroom to find outdoor access and an ensuite with dual sinks, a separate tub/shower, & a walk-in closet. One secondary bedroom has a double-door entr PLUS! Horse back ride from your home with nearby trails! This gem includes a spacious multi-purpose room with its own separate entrance, making it ideal for a guest quarter, game room, or workshop. Laundry room with a sink & cabinetry. But the true highlight is the oversized backyard that has been tastefully divided! Designed for year-round enjoyment, you'll have a covered patio, well-laid pavers, built-in BBQ, fireplace, firepit, hot tub, and a heated pool & spa. Beyond the fence are the stables, arena, and a storage shed. Want MORE? With a 4-car garage, RV port, RV gates, and ample room for your trucks & toys, this home is designed for convenience and functionality. Escape the typical subdivision feel, enjoy larger lot space, and still benefit from easy access to suburban amenities! Wow, just WOW!

View Property

29091 N 139th Street Scottsdale, AZ 85262

$1,199,000

4 Beds

4 Baths

4,034 SqFt

Status Active

MLS # 6748671

Property Type Single Family Residence

Price Type --

Discover the 4034 floor plan & all it has to offer. The kitchen boasts luxurious finishes, such as, stainless steel WOLF appliances, upgraded 42'' upper cabinets w/ crown molding, ample countertop space & a large center island. The adjacent informal dining area provides a comfortable & convenient space. The great room is filled with natural light & a sliding glass door lets in even more. The homes boasts plenty of room for everyone w/ a GUEST LIVING area w/ separate entry & a BONUS/GAME ROOM. The spa-like primary bathroom includes a BEACH ENTRY shower, dual-sink vanity, a soaking tub, & a spacious walk-in closet. Enjoy outdoor living, dining, and entertaining on the covered patio, and take advantage of the 4-car garage on 1.25 ACRES w/ NO HOA. Home to be completed in December.

View Property

Show Low AZ 85901

$1,199,000

4 Beds

4 Baths

3,372 SqFt

Status Active

MLS # 6739787

Property Type Single Family Residence

Price Type --

''Lux Cabin'' with stunning fairway views & water feature on #15 Tower Course. Torreon is a Troon Development with amenities that are second to none! Conveying beautifully furnished, new high-end hot tub on expansive back deck, 20ft handcrafted juniper wood bar, 2 Master Suites, wall of windows & more!

View Property