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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22592 E Alyssa Drive Queen Creek, AZ 85142

$871,485

4 Beds

3 Baths

3,555 SqFt

Status Active

MLS # 6773984

Property Type Single Family Residence

Price Type --

Last opportunity to own a Tri Pointe Home in Madera, specifically the Terrace community. Loaded with designer selections, this single-level masterpiece is a must-see. The kitchen has executive appliances with double wall ovens and a 36'' gas cooktop, light tone quartz countertops with a waterfall edge island, and more! Other features include Benton birch flagstone with black bronze hardware, a 16' center pull sliding glass door at the great room, 12' ceilings at the great room, custom tile surrounds at the primary shower, upgraded bath fixtures in stainless brilliance, and square drywall corners with contemporary baseboards and door trim. There is also a laundry sink with base cabinets, 2in faux wood blinds throughout, upgraded interior paint in snowbound, and a garage service door.

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20475 E Palomino Drive Queen Creek, AZ 85142

$871,000

4 Beds

3.5 Baths

3,218 SqFt

Status Active

MLS # 6771550

Property Type Single Family Residence

Price Type --

Located in the unique and highly sought after equestrian neighborhood of Will Rogers Equestrian Ranch you are afforded amenities and opportunities unlike any other neighborhood in town! HOA offers a club house, community pool, trailer parking, and horse facilities to keep your animals close. And the home itself offers solar panels with no loan or lease payment, an expansive pool complete with waterfall, rope swing and lap lane, large, covered patio, gazebo, and plenty of space behind the RV gate to park any cars or toys you may have! The single car garage is double deep and offers an over height door to accommodate any parking needs you may have. With double master bedrooms this home is perfect for extended family needs or guests. You're going to love this neighborhood! Come see this one!

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5743 N 208th Lane Buckeye, AZ 85396

$870,796

3 Beds

3.5 Baths

2,870 SqFt

Status Active

MLS # 6714356

Property Type Single Family Residence

Price Type --

MLS#6714356 Ready Now! The Shire in Victory at Verrado, a 55+ active lifestyle community, offers a great open floorplan layout with beautiful mountain views. Enter the foyer area and stop by the private study to work from home or read a book. Two private guest bedrooms are on either side of the foyer - each has its own full bath and walk-in closet. Enter the heart of the home and enjoy the open gathering room that seamlessly connects to the kitchen with center island and dining area. Perfect for entertaining! Structural options include: paver front porch, 15' x 8' multi sliding glass door, additional 2 car garage, upgraded square corners, 5 baseboards, pre-plumb for future laundry sink, and gas line for future outdoor kitchen.

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3561 E Weather Vane Road Gilbert, AZ 85296

$870,000

4 Beds

3 Baths

3,297 SqFt

Status Active

MLS # 6756346

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the heart of Gilbert! This stunning former-model home exudes elegance and comfort at every turn. With four bedrooms, three bathrooms, and an impressive 3,297 square feet of living space, this property offers ample room for families of all sizes. As you approach the house, you'll be greeted by the charming tree-lined streets of the Morrison Ranch neighborhood. The curb appeal is undeniable, with a beautifully landscaped front yard, pavered driveway, and front porch. Step inside, and you'll immediately be impressed by the attention to detail and high-end finishes. Wood flooring, plantation shutters, crown molding, wainscoting, and built ins. The open floor plan creates a seamless flow between living spaces, perfect for both everyday life and entertaining guests. The heart of this home is undoubtedly the gourmet kitchen, which features granite countertops, stainless steel appliances, and upgraded 42-inch cabinets. The island provides additional prep space, while the pantry ensures ample storage. The eat-in kitchen area makes meals even more convenient. The two main living areas ensure plenty of space for everyone to gather and enjoy each other's company. The loft area upstairs offers additional flexibility, serving as a perfect playroom or teenage retreat spot, and has a covered balcony to enjoy. The primary bedroom offers a spacious layout and an ensuite bathroom. The dedicated office, school, or craft room has built-ins, a desk, and crown molding. Outside, the backyard is your private oasis. The sparkling pebble-tec pool with a rock waterfall is perfect for cooling off on hot summer days or hosting pool parties with friends and family. The covered tiled patio with surround sound, custom outdoor kitchen, and seating area add to the enjoyment. Situated in the desirable Morrison Ranch community, you'll enjoy easy access to a variety of amenities. Stroll to nearby stores and restaurants or explore one of the multiple parks, catch-and-release fishing lakes, basketball and sand volleyball courts, or the Riparian Preserve at Water Ranch, which offers a beautiful natural escape for exercising, birdwatching, or picnicking. This home is located within the top-rated Gilbert School District, which offers excellent educational opportunities from elementary through high school. Don't miss the opportunity to make this stunning property your new home, sweet home.

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8714 E Jackrabbit Road Scottsdale, AZ 85250

$870,000

4 Beds

3 Baths

2,196 SqFt

Status Active

MLS # 6764221

Property Type Single Family Residence

Price Type --

Welcome home to stunning views of Camelback Mountain and your beautifully remodeled home featuring 4 bedrooms, 3 baths and two living spaces. The oversized master suite boasts a large walk-in closet an impressive spa-like bathroom. Two additional large bedrooms are on the same side of the home with the fourth bedroom split across the home with private den and full bathroom. 2 car garage, with direct access from the garage to the mud room. The home boasts new plumbing, a new sewer line, and updated electrical wiring for added peace of mind. The bright and open floor plan is enhanced by abundant natural light. The chef's kitchen is outfitted with a gas stove, new top of the line refrigerator, upgraded quartz counters, and a beautiful eat at quartz island. GREAT PRICE/GREAT HOME

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7839 E Nestling Way Scottsdale, AZ 85255

$870,000

4 Beds

2 Baths

2,014 SqFt

Status Active

MLS # 6778338

Property Type Single Family Residence

Price Type --

Tastefully updated 4 bedroom/2 bath home in the always popular community of Grayhawk Village. The interior offers Travertine floors in the main living areas with warm and inviting wood plank floors in the bedrooms. Newer kitchen and baths renovation feature beautiful, custom granite counters with tile backsplash, stainless appliances and white cabinets finished with black matte hardware. North/South exposure and the large backyard is the perfect place to create your own personal Desert Oasis. Come and live the good life in Grayhawk and all it offers with easy access to dining, shopping and the opportunity for endless outdoor experiences such as Golf, walking and biking paths and parks. Easy access to the 101 and all the things that make Scottsdale a wonderful place to live.

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8989 N Gainey Center Drive Unit 108 Scottsdale, AZ 85258

$870,000

3 Beds

3 Baths

2,113 SqFt

Status Active Under Contract

MLS # 6713396

Property Type Townhouse

Price Type --

Desirable end-unit townhome in the 72 unit, gated community of 8989 Gainey Center. This residence features three bedrooms, three bathrooms and second-floor bonus room. The Owner's Suite offers a private balcony. For outdoor entertainment, the inviting patio provides the perfect setting for gatherings with friends and family. Additional highlights of this home include a two-car garage, ensuring ample parking and storage space. While the property is in its original condition, it presents an exceptional value and a unique opportunity for you to personalize and make it your own. Discover the potential and lifestyle that await you in this exceptional townhome. See the attached floor plan for more details. Don't miss out on this rare find!

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19412 E Camina Plata -- Queen Creek, AZ 85142

$870,000

3 Beds

3 Baths

2,155 SqFt

Status Active

MLS # 6706767

Property Type Single Family Residence

Price Type --

**Seller will pay for a 2-1 buy down or 1% permanent rate buy down, lowering your payment nearly $1000/month!** PRICED BELOW MARKET! Winner of BEST HOME on Tour! Welcome to your dream home in Queen Creek! This beautifully renovated 3-bed, 3-bath home has undergone a complete high-end transformation. Despite the extensive $200K+ REMODEL & ADDITIONS, the home retains its original, classic architectural charm and is the perfect blend of modern luxury and serene country living. Nestled on OVER AN ACRE, this exquisite property, with NO HOA, promises both tranquility and convenience in one of the area's most sought-after locations. From the studs up, no detail has been overlooked. This home has been meticulously rebuilt with high-end finishes & amenities, as well as updates to the electrical, plumbing/fixtures, HVAC ducting, roof, insulation, a bathroom added and much, much more! The heart of this home is its gourmet kitchen. Featuring high-end custom, soft close cabinetry, SS appliances, quartz countertops, custom hood & tile backsplash & huge center island w/ lots of storage space. The open layout flows seamlessly into the dining and living areas, perfect for hosting family gatherings or dinner parties. The living spaces are bathed in natural light, highlighting the beautiful flooring and designer fixtures throughout. The spacious master suite is a true retreat, complete w/ a luxurious ensuite bathroom featuring a walk-in shower, dual vanities & massive walk-in closet w/ custom built-ins. The two additional bedrooms are equally spacious and well-appointed, each with walk-in closets, as well as access to two additional, beautifully designed bathrooms. These spaces offer comfort and privacy for family members or guests. Enjoy outdoor living at its finest, where over an acre of land offers endless possibilities for relaxation and recreation or even the addition of a pool. Bring the horses, RV, Quads...all the toys! Enjoy a cute playhouse for the kids to play in, as well as a renovated structure w/ AC that offers numerous options for use, whether it be a workshop, teen retreat, game room, gym, storage, home school space! If you're a horse lover you'll love the horse set up w/ corral offering 2 stalls, arena, tack/storage room & separate pasture w/ irrigated lot. Located close to top-rated schools, shopping, and dining, this home offers the best of both worlds - luxury & convenience. Don't miss this rare opportunity to own a fully renovated, move-in-ready home in one of Queen Creek's most desirable neighborhoods. Schedule your private tour today and experience firsthand the unmatched beauty and quality of this exceptional property. Your dream home awaits!

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2142 W Enfield Way Chandler, AZ 85286

$870,000

5 Beds

3 Baths

3,448 SqFt

Status Active

MLS # 6715819

Property Type Single Family Residence

Price Type --

Discover this beautifully remodeled 3,455 sq. ft. single-story gem in Chandler's prestigious Pecos Vistas! Apologies for the earlier availability limitations. This property is now ready to impress after a full refresh. Recently remodeled with refinished cabinets, new baseboards, elegant design walls, whole-house paint, new faucets, upgraded door hardware, garage paint, and refreshed landscaping, this 5-bedroom, 3-bathroom home radiates modern charm and functionality. The open, single-story floor plan offers expansive living spaces that adapt to your lifestyle needs. Highlights include a stunning eat-in kitchen equipped with included appliances, an oversized center island and breakfast bar, a cozy breakfast nook, and a formal dining area. The kitchen flows seamlessly into the spacious living area - ideal for entertaining friends and family. A separate formal family room and versatile bonus space offer even more flexibility. Featuring neutral decor, tile flooring in high-traffic areas, and added conveniences like ceiling fans, this home provides both style and comfort. The split floor plan ensures privacy, with 5 generously sized bedrooms, including a luxurious primary suite complete with a full bath and walk-in closet. A laundry room with an included washer and dryer adds convenience. Step outside to enjoy the oversized backyard, where a covered patio and lush landscaping create a perfect outdoor oasis for relaxation or gatherings. Located in a prime Chandler neighborhood, this home combines elegance, function, and modern upgrades. Don't miss this opportunity.

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7012 N 22nd Street Phoenix, AZ 85020

$870,000

4 Beds

3 Baths

2,368 SqFt

Status Active

MLS # 6730100

Property Type Single Family Residence

Price Type --

Escape to a 4-bed, 2.5-bath home nestled among Phoenix's scenic mountains. This home features a versatile kitchen with two ovens, two dishwashers + a prep sink. Located just East of the 51 you're just minutes from Piestewa Peak trail and have fantastic mountain views from the front and backyard. With close proximity to Madison Elementary School and steps away from Chabad of Phoenix, this neighborhood is HIGHLY coveted. Enjoy a desert backyard oasis with a sparkling pool, perfect for relaxation or entertaining. Located minutes from downtown Phoenix and the vibrant Biltmore area. Embrace the Arizona lifestyle in this amazing mountain retreat!

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3928 E Powell Court Gilbert, AZ 85298

$870,000

4 Beds

2 Baths

2,361 SqFt

Status Active

MLS # 6742225

Property Type Single Family Residence

Price Type --

Gorgeously upgraded 4 bedroom, 2 bath home with den/office option in highly desirable Seville Golf & Country Club Gilbert Community and on a 1/2 acre lot! Inside features an open floor plan with tile and carpet, updated paint, shutters in main living area, two beautifully remodeled bathrooms and a kitchen made for the chef at heart with a large island, quartz countertops, Blanco Silgranit sink, 42'' cabinets, brand new Samsung BESPOKE appliances with gas range & walk-in pantry. Outside has upgraded front yard lush landscape with turf and the backyard is a complete oasis with mature landscape, large grass area, newly remodeled pool(heated)/spa with water feature, fire pots, Bose speakers, extended paver patio, amazing outdoor kitchen, pergola with propane fireplace and automated RV gate.

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18650 N Thompson Peak Parkway Unit 1040 Scottsdale, AZ 85255

$870,000

3 Beds

2 Baths

1,773 SqFt

Status Active

MLS # 6756737

Property Type Townhouse

Price Type --

Elegantly Updated DC Ranch Townhouse! This single-level, corner unit boasts stunning views of the McDowell Mountains from both the front courtyard, master bedroom and the living room. Offering a seamless blend of comfort and convenience, this residence is ideally situated near restaurants, shopping, and more. Featuring three bedrooms and two full bathrooms, this stylish abode is perfect for both everyday living and lock-and-leave convenience. With wood floors throughout the main living areas and tile in the kitchen and bathrooms, the interior exudes a sense of timeless elegance. The living room is adorned with custom built-ins, including a gas fireplace, adding both sophistication and coziness to the space. Charming custom rounded doors throughout. Crafted by the renowned custom builder Camelot, this home is a testament to quality craftsmanship. Updates include, freshly painted throughout and refreshed cabinetry. Move in Ready!

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