NAR Data Shows Now Is a Great Time to Sell!

NAR Data Shows Now Is a Great Time to Sell! | Simplifying The Market

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).

NAR Data Shows Now Is a Great Time to Sell! | Simplifying The Market

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.

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5921 E Ocupado Drive Cave Creek, AZ 85331

$875,000
3 Beds
2 Baths
2,168 SqFt
Status Active
MLS # 6714192
Property Type Single Family Residence
Price Type --
Impeccably maintained and thoughtfully upgraded, every detail of this home has been crafted with care and precision.Welcome to your dream home in the highly sought-after gated community of Lone Mountain in Cave Creek, Arizona! Nestled on an oversized cul-de-sac lot, this stunning south-facing residence offers unparalleled privacy, bordering a Natural Area Open Space (NAOS) with no neighbor to the east. Step inside this elegant 3-bedroom, 2-bathroom split floor plan home and discover a haven of comfort and style. The spacious living areas provide ample room for the entire family to enjoy. The home boasts a paid-off solar system, electric retractable awnings, and expansive patios, perfect for embracing Arizona's beautiful weather. The oversized lot offers plenty of space for gardening or play, creating a wonderful environment for children and grandchildren alike. The backyard retreat is an entertainer's delight, featuring a gazebo, built-in BBQ, and synthetic grass for low-maintenance enjoyment. Imagine savoring breathtaking sunrises and sunsets in this tranquil oasis. The heart of the home is the extended kitchen, designed for both functionality and beauty. With beautiful Alderwood cabinets, a breakfast bar island, granite countertops, and new smart appliances, this kitchen is a chef's dream. Throughout the home, you'll find spacious rooms adorned with wood and tile flooring, complemented by crown moldings. The laundry room is a model of efficiency, complete with plenty of storage, a folding counter, and a built-in ironing board. Custom-designed closets add a touch of luxury, and the master bedroom features a built-in vanity for your convenience. The home's artwork is showcased with an integrated electric system, controlled by a dimmer switch, adding a sophisticated ambiance. Additional highlights of this remarkable home include a large fireplace with an elegant mantle, an extended-size garage, and both casual and formal dining areas. Every window is fitted with plantation shutters, providing both style and privacy. Don't miss this rare opportunity to own a piece of paradise in Lone Mountain. Enjoy a private tour today and experience the exquisite lifestyle that awaits you in this exceptional home.

4145 S Zephyr -- Mesa, AZ 85212

$875,000
4 Beds
2.5 Baths
2,643 SqFt
Status Active
MLS # 6761520
Property Type Single Family Residence
Price Type --
Beautiful Highly Upgraded Home in Eastmark sits on a larger corner lot with extended driveway and garage. This home features over $200k in upgrades including gourmet kitchen with build in fridge and with top-of-the-line appliances. Entertaining is made easy with a generous sized island and open concept floor plan. Step through triple-pane sliding glass doors, and enjoy the Arizona sunshine with the extended covered patio, heated saltwater pool and spa. You'll feel like you're at a resort with the pool water features and gas fire pit. The split master suite offers a luxurious retreat with a soaking tub and walk in shower with dual vanities. This home boost ample storage with addition additional cabinetry in the nook and laundry room complete with cabinets, counter and sink. The home also features smart features like exterior PoE cameras, Wi-Fi extenders, a zoned climate-controlled HVAC. Eastmark also boosts community amenities, including a pool, Steadfast Farm, nearby coffee shop, multiple parks and the Clubhouse. Don't miss this opportunity to make this stunning home in Eastmark yours.

11542 E Christmas Cholla Drive Scottsdale, AZ 85255

$875,000
2 Beds
2.5 Baths
1,743 SqFt
Status Active
MLS # 6734009
Property Type Single Family Residence
Price Type --
Welcome to your perfect ''Lock N' Leave'' luxury home, nestled in the prestigious Desert Views at Troon Village. Surrounded by the breathtaking mountain views of Pinnacle Peak and Troon, this beautifully updated residence offers the ultimate blend of elegance and convenience. The meticulously designed 1,743 square foot home features a thoughtful split floor plan with two primary en-suite bedrooms, a stylish den, and a rare 2.5 baths, accentuated by 10-foot ceilings. The expansive great room layout amplifies the sense of space beyond its dimensions. Step inside to discover a tastefully renovated interior, highlighted by a recently remodeled kitchen. This culinary haven boasts granite countertops, a spacious breakfast bar, a kitchen island, wine fridge, and top-of-the-line stainless steel appliances. Soft-close maple wood cabinetry adds a touch of sophistication. The foyer leads to a chic half bath, featuring a custom floating sink crafted from honed quartzite, complemented by a stunning copper fixture, bespoke lighting, and designer wallpaper from Lemieux Et Cie, evoking the luxury of a 5-star resort. The main primary bedroom is a sanctuary, complete with a private patio and large bathroom windows that frame the mesmerizing views of Pinnacle Peak. The luxurious bathroom offers a garden tub for soaking while admiring the serene backyard. The primary bedroom closet is a masterpiece, illuminated by custom dimmable LED lighting and adorned with designer wallpaper, and plush carpeting underfoot to enhance the sense of opulence. This closet is as functional as it is beautiful, with dedicated shelves for your shoe collection, open shelving for easy access, ample hanging racks, a pullout valet rod for outfit planning, and velvet-lined jewelry drawers for your treasured accessories. It's a space that combines convenience and sophistication, making daily preparations a joy. The backyard of this luxurious home is a sanctuary of relaxation and natural beauty, featuring a rejuvenating hot tub and a custom water feature that creates a serene atmosphere. The xeriscape landscaping is a masterpiece of sustainable design, incorporating over 50 varieties of desert plants to offer a true desert botanical experience. Thoughtfully placed lighting highlights the stunning flora and adds a magical ambiance to evening gatherings. As you relax and unwind, you'll be captivated by the distant mountain views and the iconic silhouette of Pinnacle Peak, creating a picturesque backdrop for every moment spent outdoors. This home is a golfer's dream, situated just minutes from world-renowned golf courses like Monument at Troon North, Grayhawk Golf Club, and Legend Trail Golf Club. Fine and casual dining options abound nearby, including the Four Seasons Scottsdale Resort, Mastro's Steakhouse, Preston's, Fleming's, Pescada, and more. Membership at Troon Country Club offers access to golf, tennis, pickleball, a lap pool, and a state-of-the-art fitness center, along with casual and fine dining options. You'll also be close to numerous renowned spas, including the Fairmont Princess Scottsdale Resort, the Four Seasons Spa, Agave Spa at The Westin Kierland Resort, and The Boulders Resort Spa. This home promises not to disappoint. Come embrace luxury living in the heart of Troon Village. Most furniture, artwork and accessories are available under a separate bill of sale. This home is truly ready to move right in, all you will need is your suitcase.

4658 S Eastern Run Mesa, AZ 85212

$875,000 - 4Br/3Ba -  for Sale in Eastmark Development Unit 7 North Parcels 7-6 Thru, Mesa
Open House
$875,000
4 Beds
2.5 Baths
2,845 SqFt
Status Active
MLS # 6777724
Property Type Single Family Residence
Price Type --
Experience a vibrant lifestyle at one of the best master-planned communities in Arizona. Home to beautiful neighborhoods, award-winning schools and innovative amenities! 4 bedrooms (split plan), 2-1/2 baths, 2,845 sf. Huge 10,000 sf lot. This home is a stunner with tons of upgrades including wood shutters, huge patio slider, Quartz in primary bath/kitchen, luxury ceramic wood-look tile, fans, gas fireplace and more! Great room concept open to Chef's kitchen boasting gas cooktop, gorgeous cabinets/backsplash, double ovens, Butler's pantry, oversized island/bar and breakfast nook. $90,000 resort backyard offers a heated pool with Baja shelf and swim-up bar, water feature, turf with cooling sprinklers, spa, outdoor kitchen/BBQ, Ramada with TV, gas firepit. Perfect for family gatherings! Luxurious primary bedroom/sitting area and spa bath. 3 car garage, large mud-room and beautiful curb appeal. Convenient to dining, shopping, Phoenix-Mesa Gateway Airport, excellent schools, near the 101, 202, 60 frwys all in the Thriving Gateway Corridor. Eastmark is something special with incredible amenities such as numerous parks and playgrounds, walking trails, tennis courts, community pool, splash pads, skate park, state of the art clubhouse, and ample community events. Welcome home!

860 E 7th Street Mesa, AZ 85203

$875,000 - 6Br/3Ba -  for Sale in Freestone Terrace, Mesa
Open House
$875,000
6 Beds
3 Baths
3,736 SqFt
Status Active
MLS # 6780308
Property Type Single Family Residence
Price Type --
Welcome to your dream family home, set on a spacious lot with mature and citrus trees. This stunning residence features 4 bedrooms and 2 bathrooms on the main floor, plus 2 additional bedrooms and a bathroom in the basement—ideal for in-law quarters or a playroom. The beautifully remodeled kitchen includes a large island with a breakfast bar, quartz countertops, and ample cabinetry. Recent upgrades feature a new water heater and water softener (2024) and new A/C units (2023). Step outside to your private oasis with a refreshing pool, built-in BBQ, and a slide and swing set for the kids. With new tile flooring on the main level and remodeled bathrooms (2022), this home is perfect for creating lasting memories. Don't miss this incredible opportunity to make this beautiful home your own!

3346 E Coconino Drive Gilbert, AZ 85298

$875,000 - 4Br/4Ba -  for Sale in Marbella Vineyards - Phase 2a Replat, Gilbert
Open House
$875,000
4 Beds
3.5 Baths
3,347 SqFt
Status Active
MLS # 6774976
Property Type Single Family Residence
Price Type --
Welcome to this extraordinary home, where luxury meets functionality! Every detail has been thoughtfully crafted in this stunning 4-bedroom, 3.5-bath, plus bonus room and loft space. Built with Shea's renowned ''kitchen-centric'' design, the gourmet kitchen features white cabinetry, an oversized breakfast bar with elegant granite countertops, stainless steel appliances, and a custom backsplash. The spacious open floor plan is enhanced by beautiful wood-plank tile flooring and a custom-built entertainment center with additional storage. A full bedroom and bath are conveniently located downstairs, while the upstairs loft offers versatile living space. The owner's suite is a true retreat, boasting a luxurious en-suite bathroom with a large walk-in shower, dual vanities, and a generously sized walk-in closet. Two additional upstairs bedrooms and a large laundry room add to the home's convenience and style. Step outside to your own private oasis! The resort-style backyard features a sparkling pool and ample space for entertaining, all situated on one of the largest lots in the neighborhood. With no homes behind, you'll enjoy privacy backing up to a serene wash. The extended-length 3-car garage provides additional space for vehicles and storage. Located in the highly sought-after Marbella Vineyards community, you'll have access to a 7-acre park, walking paths, playgrounds, volleyball and basketball courts, picnic areas, and more. Plus, you're just minutes away from shopping, top-rated schools, and entertainment. Don't miss the opportunity to make this impeccable home yours!

3742 S Coach House Drive Gilbert, AZ 85297

$874,999
7 Beds
3 Baths
3,450 SqFt
Status Active
MLS # 6727128
Property Type Single Family Residence
Price Type --
*******RARE******BASEMENT HOME IN Power Ranch*********7 bedrooms- Huge 3450 Sq Ft. Over $170K in new upgrades, including custom plank tile flooring, both upstairs baths completely remodeled, complete new Kitchen with all new SS GE Profile Appliances, BRAND NEW, not painted white Cabinets with pull out shelves, Quartz Counters, Double ovens, new SS Sink and Faucet with disposal. They have even added in a Built in Nugget Ice maker. Huge Rv Gate with ample concrete parking behind and ln front of the gate. Private 8' deep heated Pebble Tec Pool with a waterfall slide, and hot tub. New Water Heater, and 2 new Ac units in 2020. SELLER WILL PAY OFF SOLAR LOAN WITH THE RIGHT OFFER..... In 2018 seller added a whole home Solar system, it has a loan balance that will need to be taken over or a new loan taken out from the buyer. Payments are $354 for the life of the loan. Balance owed is around $37K. All the TVs and mounts do not convey with the sale.

21389 W Hillcrest Boulevard Buckeye, AZ 85396

$874,990
4 Beds
3.5 Baths
2,780 SqFt
Status Active
MLS # 6739139
Property Type Single Family Residence
Price Type --
Gorgeous curb appeal, 4 bed, 3.5 bath, 3 car garage with enclosed study; incredible quartz countertops in kitchen with upgraded GE stainless appliances, tiled backsplash, huge island and tons of storage. Open plan with 90 degree sliding glass door to outdoor living area. Upgraded plank tile flooring, upgraded carpet/tile and countertops in owner's retreat bath. Sunroom with vaulted ceiling; Perfect home for entertaining. 2X6 CONSTRUCTION; EXTENSIVE NEW HOME WARRANTY; see you soon!

8022 E Via Del Valle -- Scottsdale, AZ 85258

$874,900
2 Beds
2 Baths
2,000 SqFt
Status Active
MLS # 6687409
Property Type Townhouse
Price Type --
Fantastic 2 Bedroom, 2 Bath, 2000 sq ft townhome in Santa Fe subdivision in McCormick Ranch. Large open great room (with no step downs), wet bar and fireplace. Remodeled master bath with shower and jacuzzi tub. Private back yard, covered patio and 2 car garage. Located close to the club house with heated community pool and spa.

694 S Mountain View Road Apache Junction, AZ 85119

$874,900
4 Beds
2 Baths
1,945 SqFt
Status Active
MLS # 6751574
Property Type Single Family Residence
Price Type --
This home is the complete package-4 bedrooms, 2 bathrooms, 8+ car garage, a pool, horse property on an acre, with amazing views of the Superstition Mountains...WOW!!! Pride of ownership shows throughout this property. It has been well taken care of. Lots of parking for all the toys between the attached 2+ car garage & the detached 6 car garage out back. RV pad with 30 amp service. This fully fenced, flat usable lot still has space out back for more parking. Plenty of room to add a barn & corral if you want. The pool is so inviting & is perfect for cooling off in. While you rest & watch the gorgeous sunsets on the long covered patio you can listen to the relaxing sound of the pool waterfall. The front porch is perfect for enjoying the majestic Mountain Views.

315 E Balao Drive Phoenix, AZ 85085

$874,900
3 Beds
2.5 Baths
2,375 SqFt
Status Active
MLS # 6763358
Property Type Single Family Residence
Price Type --
Breathtaking VIEWS of Sonoran Mountain Preserve (OVER $222K in UPGRADES - PAID SOLAR! Average $27.80/Mo for Electric!)! Single Level, 3-car garage (w/additional 4ft extension), 3 beds PLUS Den, 2.5 Baths, SPA (hot or cold), Raised View Deck, & RV gate in Gated Community. Impressive w/10ft ceilings, 8ft doors, Plantation Shutters, HUGE open floor plan, CUSTOM entertainment ctr w/fireplace, surround sound, & multi sliding glass drs to extended back patio w/travertine tile. GOURMET Kitchen equipped w/abundant espresso cabinetry, granite counters, walk-in pantry, LARGE island w/seating, & GE Café SS appliances. Owner's retreat w/dual sinks, make-up vanity, SUPER sized tiled shower, & walk-in closet. Tranquil backyard, boasting a patio misting system, grassy area, built-in BBQ & smoker.

17357 E La Pasada Drive Fountain Hills, AZ 85268

$874,900
3 Beds
2.5 Baths
2,151 SqFt
Status Active
MLS # 6663155
Property Type Single Family Residence
Price Type --
Views Views Views!!! This rare single level view top home with separate guest quarters offers the most stunning mountain views and design features anyone could desire. The home has been completely updated inside and out. Recent appraisal of $896,000 show this homes true value. Heated pool and spa allow for a resort style feel, and year round enjoyment. Home was professionally designed and has that new home look and feel.The list of upgrades is truly too much to list. This is a perfect opportunity to own a single level view top updated home that has the look and feel it was just built. No HOA. No NPOA. Great for short term rental opportunities.

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