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.

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17418 E La Pasada Drive Fountain Hills, AZ 85268

$874,900

3 Beds

2 Baths

2,170 SqFt

Status Active

MLS # 6694760

Property Type Single Family Residence

Price Type --

Newly updated one of a kind, single level, modern desert style home on a level lot. Oasis backyard offers majestic mountain views. Magazine quality features can be seen inside and out. Paid for solar, fresh foam roof and dual pane windows make this an eco friendly, cost effective opportunity. Speaking of opportunity there is No HOA and No NPOA. Great for short term rental opportunities. The list of upgrades is way too much to list. Come see for yourself. A recent certified appraisal of $898,000 is available on site.

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310 W Navajo Road Flagstaff, AZ 86001

$874,900

5 Beds

3 Baths

1,932 SqFt

Status Active

MLS # 6727174

Property Type Single Family Residence

Price Type --

Here it is! The Coconino Estates home with an ADU you've been waiting for! Main house house has a split floor plan with the converted garage turned into a luxurious Primary suite. Wood accents throughout the home provide warmth and coziness. The landscaped front and back yard are perfect for entertaining family and friends. Just a short walk to the grocery store, Mama Burger, Frances Short Pond, Thorpe Park, and the tree park! Just a short drive to Snow Bowl! The ADU is 1 bed 1 bath with a sizable living area and full kitchen! New roof and furnace in 2020. 3 custom doors in 2023 (3 year warranty). New Carpet 2023. Don't miss your chance to see this incredible income producing property!

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1454 N Orlando -- Mesa, AZ 85205

$874,900

5 Beds

3 Baths

3,251 SqFt

Status Active Under Contract

MLS # 6753051

Property Type Single Family Residence

Price Type --

Gorgeous updated home situated on a sprawling irrigated lot. New exterior paint and hvac unit. Interior has beautiful new flooring and baseboards throughout. Kitchen features new shaker cabinetry, quartz countertops, pantry and stainless steel appliances. Huge island area is great for entertaining. Spacious living spaces with tons of possiblilities to fit personal lifestyle. Owner suite is your own sanctuary with a private bath you won't want to leave. Stunning finishes, huge walk in shower and seperate soaking tub. Great sized secondary bedrooms and plenty of storage throughout the home. Backyard has sparkling pool and spa, patio areas and plenty of space for outdoor living. This home is a rare find and hits all of those hard to find amenities!

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41411 N Anthem Ridge Drive Anthem, AZ 85086

$874,800

3 Beds

3.5 Baths

2,991 SqFt

Status Active

MLS # 6763778

Property Type Single Family Residence

Price Type --

Are you ready to experience elevated living at Anthem Country Club? Discover this stunning home, perfectly positioned on a premium corner lot in the prestigious Anthem Country Club. Step inside to be welcomed by a beautiful and inviting open-concept floor plan featuring 3 bedrooms plus a den, a spacious great room, a formal dining area, and a versatile front living/flex room. The kitchen, designed to delight even the most discerning chef, boasts an abundance of upgraded cabinetry with crown molding, under-cabinet lighting, sleek granite countertops and backsplash, stainless steel appliances, an island with a breakfast bar, and elegant stone accents. The casual dining nook, framed by a bay window, adds a charming touch to your daily meals. The great room exudes warmth and style with a custom feature wall and a stunning stacked-stone gas fireplace, complemented by Stone Creek built-in cabinetry. Perfect for entertaining, the tranquil backyard is equipped with a custom-built grill, pizza oven, and a spacious paver patio. A built-in BBQ island with bar seating, a calming fountain, easy-care artificial turf, and breathtaking mountain views make this backyard an entertainer's dream. Retreat to the serene primary bedroom, which features double-door entry, sliding doors leading to the backyard, and an en-suite bath complete with dual vanities, a tiled shower, a soaking tub, a large walk-in closet with built-ins, and a linen closet. A secondary bedroom with its own en-suite bath offers privacy and convenience for guests. Additional features throughout the home include plantation shutters, two-tone paint, designer light fixtures, and a spacious 3-car garage. Living within the gated Anthem Country Club provides exclusive access to members-only amenities such as resort and lap-style pools, tennis courts, a fitness center, and a world-class golf course. Don't miss your chance to view this exceptional property today!

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1808 W Horsetail Trail Phoenix, AZ 85085

$874,500

5 Beds

2.5 Baths

2,968 SqFt

Status Active

MLS # 6783279

Property Type Single Family Residence

Price Type --

Welcome to this stunning home offering curb appeal, a 3-car garage, and breathtaking mountain views. Enjoy North-South facing for optimal sunlight, 42 owned solar panels for energy efficiency and a resort style backyard! Inside, you'll find numerous upgrades including Lutron automated shades in the living areas and shutters in the bedrooms. The thoughtfully designed floorplan includes 5 bedrooms, a den, and a spacious great room with surround sound. The gourmet kitchen boasts stainless steel appliances, a waterfall island, quartz countertops, and a walk-in pantry. The primary suite offers a luxurious ensuite with a soaking tub, separate shower, dual sinks, dual walk-in closets, and backyard access. Step outside to a cozy covered patio, surrounded by beautiful travertine pavers that extend out to a sunken firepit and a pebble tech pool complete with a serene waterfall, perfect for entertaining or relaxing in your desert oasis. Additional features include R/O, Water Softener, laundry room with cabinets and a sink, tankless water heater, a mini-split HVAC in single garage, and 2 year old AC units! Do not miss out on this beautiful home!Welcome to Sonoran Hills, a gated community offering exceptional amenities including a refreshing community pool, sports courts, and a dog park, perfect for active lifestyles. Conveniently located near major freeways, residents enjoy easy access to dining, shopping, and entertainment. With its blend of resort-style living and ideal location, Sonoran Hills provides the perfect balance of comfort and convenience.

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213 S Mount Vernon Avenue Prescott, AZ 86303

$874,500

3 Beds

3 Baths

2,049 SqFt

Status Active

MLS # 6705845

Property Type Single Family Residence

Price Type --

Historic Craftsman Bungalow located on the most highly sought after street in Prescott. This turn-key property is currently operated as a successful VRBO & may come fully furnished. Taxes only $588 per year! Main home offers 3 bedrooms, 2 bath, open concept family room, dining room, updated kitchen w/ eat-in island, media/game room & charming front porch to enjoy taking in Prescott's small-town charm. Property also presents lower apartment, offering additional income unit. Two separate garages offering one above at house level & two car garage below at alley access w/ adjacent RV space. Terraced back yard is fully fenced w/ plenty of room to expand back patio space to make this an even more enchanting space. Don't miss your opportunity to own a piece of history in the heart Prescott!

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805 W Little Ranch Road Paulden, AZ 86334

$874,478

4 Beds

3 Baths

3,207 SqFt

Status Active

MLS # 6613512

Property Type Single Family Residence

Price Type --

Discover your Self-Sustaining Oasis in Paulden, AZ. Nestled ~30 minutes from Prescott, this Paulden ranch is a prepper's dream. Sitting on 5 fenced acres, it boasts a high-producing well with windmill-powered 10,000-gal storage tank plus an extra well, also high capacity. Security is ensured with an automatic gate, mature trees and a secluded location. The main house offers 4 bedrooms, 3 baths, a beautiful kitchen, huge living room, true soundproofed media room, laundry room, dining room, pantry, and more. Compound includes 1248 sqf workshop/garage (w/office+ bathroom), 480 sqf bunkhouse, 768 sqf garage, a bunker/root cellar/wine cellar, another 2-car garage/storage container, horse facilities, gardens, ponds, etc. This gem is a haven for those seeking self-sufficiency in a crazy world.

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877 W Golden Ore Pass Apache Junction, AZ 85120

$874,251

5 Beds

4 Baths

3,656 SqFt

Status Active

MLS # 6771716

Property Type Single Family Residence

Price Type --

Extraordinary farmhouse modern home currently under construction in Blossom Rock, a community that offers biking/walking paths, a playground, clubhouse, and a pool! The LEED certified home features 5 bedrooms, 4 baths, an office, a game room, and a 2 bay front loaded garage alongside a 1 bay side turn garage. The designer selected home boasts an Executive kitchen with a 36'' gas cooktop and Della Terra Quartz countertops. Other features include a GenSmart with a kitchenette, upgraded Benton Paint White cabinets, 12' ceilings in the kitchen, great room, and dining room, plank tile flooring with upgraded carpet, and a 16' center pull glass door at the kitchen. Pavers can be found at the porch, courtyard, and driveway.

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Pinetop AZ 85935

$874,000

4 Beds

3 Baths

2,914 SqFt

Status Active

MLS # 6657406

Property Type Single Family Residence

Price Type --

'ATTENTION VETERANS! THIS HOME HAS A VA ASSUMABLE LOAN OF A LOW RATE OF 5.008%! 'Woodland Hills Beauty'' nestled on .66 of an acre. This Entertains Delight boasts 2 Master Suites, 4 lg Bdrms, 3 full Baths, Gourmet Kitchen w/ high end finishes, Great Rm w/FP, Office/Study, Formal Dining, Covered Front Deck & Covered back Patio, Fully Fenced, RV parking, Oversized 2 car garage w/ tons of storage (pulldown ladder for attic storage) & bonus game room & more! Conveys partially furnished! Close to Woodland Lake with rec fields, walking trails. Close to schools. Great area for families. WOW! ATTENTION VETERANS! HAS A VA ASSUMABLE LOAN!

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35213 W Van Buren Street Tonopah, AZ 85354

$874,000

3 Beds

2 Baths

1,919 SqFt

Status Active

MLS # 6670949

Property Type Manufactured Home

Price Type --

**FREE 2-1 RATE BUY DOWN** This gem of a property, located just minutes from I-10, offers just under 12.5 acres of flat, usable and buildable land, a very well laid out 3 bedroom plus a den 2 bath home with extended length covered patios and a large attached carport and storage room, BRAND NEW SHASTA POOL, covered RV parking, large covered area for feed or equipment storage, 8 covered 16x24 stalls, arena, private well, abundance of peace and quiet and a never ending supply of beautiful Arizona sunsets....even the furniture can stay so all that is missing is YOU! SLLER MAY CARRY!

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2223 N Beverly Place Buckeye, AZ 85396

$874,000

4 Beds

2.5 Baths

3,248 SqFt

Status Active

MLS # 6749293

Property Type Single Family Residence

Price Type --

Experience the BEST of Verrado living! This energy-efficient home features spray foam insulation, 47 OWNED SOLAR PANELS, Tesla batteries for OFF-GRID capability, and NO ELECTRIC BILLS—just yearly credits! Ideally located across from a serene park with captivating views. Enjoy sunsets from your porch or retreat to your backyard oasis with a sparkling pool, swim-up bar, and covered BBQ area. Inside, find wood-look tile floors, stainless steel appliances, new carpet, and smart features like a Rachio watering system and updated pool equipment. The garage has epoxy floors, custom cabinets, and extra storage. Plus, a den and versatile BONUS ROOM perfect for a home office, craft room, or gym. Luxury, comfort, and sustainability in one of Buckeye's most desirable communities.

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4304 W Ivanhoe Street Laveen, AZ 85339

$873,000

4 Beds

3 Baths

2,301 SqFt

Status Active

MLS # 6740362

Property Type Single Family Residence

Price Type --

Rare opportunity! Beautiful territorial home located on 2.324 acres of non-HOA land. This home is situated next to unobstructed views of the South Mountain Preserves. This property has spectacular panoramic mountain views to the East with quiet, serene privacy. You can enjoy riding horses, biking, hiking or just having coffee on the large paved backyard patio complete with a fire pit. The large home has 2,301 sq. ft. and is super clean (air conditioning ducks have been cleaned prior to listing home) and well maintained. Upon entering this home, you will notice the large open area complete with a wood-burning fireplace and the popular Coretec Plus vinyl plank flooring. This home is a must see if you are looking for a home with 2 plus acres, no HOA and privacy! Please click on more . As you continue exploring this home you cannot help but see the beautiful solid oak interior doors and oak trim throughout that boasts quality. The home emphasizes 4 bedrooms (4th bedroom off the great room could be used for an office complete with a separate entry) and 3 baths. the kitchen is complete with soft-closing cabinet door & drawers, GE Microwave, glass top range and Kenmore dishwasher, large laundry room with lots of storage and a newer a/c unit. There is a sky light in the laundry room, guest bathroom and 3 in the garage. Also included is energy efficient dual pane windows and a soft water system. The attached oversized garage has an epoxied floor, utility sink, plumbed for ice maker, R-19 insulated walls and ceiling, 2inch insulted overhead door, storage cabinets, separate entry door, 220- amp circuit, option of adding 2 more 20-amp circuits, and extra installed pavers next to concrete driveway, leading up to garage. For an extra bonus there is a detached garage/shed (estimate size 16 x 32) with an 8-foot overhead door and a walk-through door. This building has endless uses including car/truck storage, hobbies, storage just to name a few. The exterior of the home has 2-50-amp RV outlets, parking pad for small RV or 3rd vehicle. You will also enjoy the low maintenance landscaping and automatic irrigation system. Close access to Loop 202 South Mountain Freeway. Also close to 5G Verizon tower. This home is a must see if you are looking for a home with 2 plus acres, no HOA and privacy!

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