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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1788 W Brooke Lane Queen Creek, AZ 85144

$868,000

5 Beds

4 Baths

2,882 SqFt

Status Active

MLS # 6780893

Property Type Single Family Residence

Price Type --

Luxury custom built home on 1 1/4 acres on hill top with amazing 360 degree views. 5 bdrms. with private entrance for mother -in-law ensuite bdrm beautiful custom cabinitry on entertainment wall in great room, custom drawers and shelves in master closet. 2 X 6 walls with spray foam insulation including in garage. 60'' fridge and freezer, oven combo with air fryer, and pot filler over range, farm house sink and quartz counter tops to compliment the beautiful kitchen and breakfast room. 400 amp power panel, can be ready for a casita or RV work shop. Enjoy all of the advantages of this beautiful custom home with no HOA with plenty of room for horses, or all of your recreational toys. Floor plan and elevation is availeabel under the documents tab.

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15829 W Bonitos Drive Goodyear, AZ 85395

New

$868,000

5 Beds

3.5 Baths

3,120 SqFt

Status Active

MLS # 6784324

Property Type Single Family Residence

Price Type --

Check out this private community in Palm Valley! The exterior of the home features a grand courtyard entrance and beautifully maintained landscaping. The Kitchen is fully upgraded with new white cabinets with silver hardware, an R/O, Granite Countertops, and a large island. The primary bathroom features a large walk-in closet, a large tub, walk-in shower, and dual vanities! Experience the amazingly done backyard with two water features. an outdoor kitchen, and a fireplace, all connected with travertine pavers. The Owner was meticulous in the care of this home, a new fridge was installed along with a new dishwasher. Plantation shutter are all through the home, and owned solar panels are installed to lower you electric bill during those hot summers.

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15436 E Sunburst Drive Fountain Hills, AZ 85268

$868,000

3 Beds

2.5 Baths

2,469 SqFt

Status Active

MLS # 6754039

Property Type Single Family Residence

Price Type --

Beautiful custom home with no interior steps and $40k in upgrades. This picturesque street enchants with its meticulously designed homes, and breathtaking Four Peak mountain views. As you enter you will fall in love with the beautiful, new iron glass door and the soaring vaulted ceilings. The upgraded kitchen boasts granite countertops, decorative tile backsplash, pull out drawers, stainless appliances, a wall oven/microwave, new RO system and a walk-in pantry. The spacious master is the perfect retreat featuring a jetted soaking tub, separate shower and its own private patio. Enjoy your morning coffee on the huge, covered deck with a stunning view of Four Peaks! The 2.5 car garage is wider and deeper then most with an insulated door. Live the Fountain Hills life you have dreamed of here.

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26812 N 161st Street Scottsdale, AZ 85262

$867,950

4 Beds

3 Baths

3,458 SqFt

Status Active

MLS # 6713041

Property Type Single Family Residence

Price Type --

Discover the luxury in this 3,458 square foot single-story home, perfectly situated on a sprawling acre lot in the city of Scottsdale. This expansive acre lot provides both beauty and privacy. The highlight of the outdoor space is the pool and patio area with an outside BBQ and fireplace, perfect for relaxing and entertaining under the Arizona sun. There is plenty of space for those with recreational vehicles or needed additional storage space. There is even room for a horse facility or an additional building. Completely fenced, it offers privacy and security. The open-concept layout is accentuated by high ceilings, elegant flooring, and an abundance of natural light, creating a warm and inviting atmosphere. A spacious floor plan seamlessly connects the living spaces, making it perfect for both everyday living and entertaining. Large windows frame stunning views of the surrounding landscape from the great room, with its large fireplace and custom built-ins making it a perfect spot for relaxation and casual gatherings. The heart of this home is undoubtedly the chef's kitchen which opens to the great room and is outfitted with top-of-the-line appliances, including a Viking Pro Stove plus wall oven and a spacious refrigerator. An oversized island provides ample prep space and doubles as a breakfast bar, perfect for casual dining and socializing. The kitchen also features a walk-in pantry and plenty of storage, ensuring that all your culinary needs are met. The custom cabinetry, granite countertops, and stylish backsplash add a touch of elegance and sophistication. This kitchen is equipped to handle everything from everyday meals to gourmet feasts. The property shares a well with two other parties. No high water bills to deal with. Two, new in 2022, four ton heat pumps and extremely low electric bills due to the mini splits, provide comfort year round. The roof was new in 2022. Seller is open to doing any REHAB UPGRADES OR REPAIRS you require. The primary suite is a true retreat, offering a spacious bedroom, a walk-in closet, and a spa-like ensuite bathroom. Relax and unwind in the luxurious soaking tub. Three additional bedrooms plus two additional baths, provide plenty of space for family and guests. This home is equipped with a host of additional features that enhance its appeal and waiting for you to discover! With its luxurious upgrades, spacious layout, and prime location, this Scottsdale home is a rare find. The good news is, the motivated seller is ready to make a deal, so don't miss your chance to own this exquisite property.

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1 Easy Street Unit 11 Carefree, AZ 85377

$866,839

2 Beds

2.5 Baths

1,847 SqFt

Status Active

MLS # 6653234

Property Type Townhouse

Price Type --

This stunning contemporary 2 Bedroom, 2.5 Bath with a Den that can be used as an Office or a 3rd Bedroom is artfully centered in upscale, artsy, downtown, Carefree. From the moment you enter, you'll be captivated by unobstructed mountain views, and the luxurious finishes to impress the most discerning buyers.Enjoy the beauty of mountain views without compromising on convenience. On property amenities include, heated pool and spa, covered ramadas with bbq grills, seating areas, fire table, bocce ball court, & putting green. You'll enjoy the quiet and peaceful beauty of Carefree and be just steps away from urban amenities, world class dining, shopping, gourmet groceries, art galleries, golf, hiking, biking, spa's, and more, this is your opportunity to enjoy the best of both worlds! $37,000 in upgrades: Bosche Stainless Steel Appliances including 5 Burner Gas Cooktop, Wall Oven, Microwave, Dishwasher, French Door Refrigerator with lower drawer Freezer Metal Cable Railing System Vector Linear Gas Fireplace Granite Countertops Custom Cabinetry Flooring: LVP, Tile, and Carpet

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Glendale AZ 85306

$865,000

8 Beds

4 Baths

2,712 SqFt

Status Active

MLS # 6768229

Property Type Single Family Residence

Price Type --

Discover a lucrative investment opportunity at 6008 W Paradise Lane - once a thriving sober living recovery center could also be a great assisted living home. This turnkey property boasts a charming 2,750-square-foot commercial house, 8bdrms, 4 baths, can accommodate up to 10 beds. Nestled on a spacious .25-acre lot. This gem offers modern appliances, a stunning outdoor deck and gazebo, and convenient accessibility features. This is ready for an owner operator or investor so you can put a tenant in place with 3% annual rent increase. Don't miss out on this ROI-driven venture!

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28968 N Phoebe Place Queen Creek, AZ 85142

$865,000

5 Beds

4 Baths

2,882 SqFt

Status Active

MLS # 6659276

Property Type Single Family Residence

Price Type --

PRICE REDUCED 34 K Beautiful new custom home is now complete. This home has so many extras, 400 Amp power panel ready for a casita RV Garage 2'' X 6'' walls with spray foam insulation including the garage. Upgraded 42'' cabinets to the ceilings, 60'' fridge and freezer, oven combo with air fryer. Quartz counter tops with farm house sink to compliment this amazing kitchen and breakfast room. 5 Bedrooms with private entrance to Mother-in-law bedroom with en suite handicap accessable shower. Enjoy all of the advantages of this beautiful Custom home with no HOA with plenty of room for your horses, a casita and all of your recreational toys. This amazing dream home is finally completed ready for you and your family, (Floor Plan and Elevation of the home is available under the document

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9450 N 83rd Place Scottsdale, AZ 85258

$865,000

3 Beds

2 Baths

1,865 SqFt

Status Active

MLS # 6753959

Property Type Single Family Residence

Price Type --

Welcome to Scottsdale's premier McCormick Ranch community! This exceptional home is situated on a large corner lot with a deep pool and picturesque mountain views. You will be greeted by the home's vaulted ceilings, creating a bright and open atmosphere. Plantation shutters are thoughtfully installed in every room, adding timeless elegance while offering privacy and light control. With Mountain View Park across the street you have quick access to walking, biking, trails, and golf courses.

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29307 N Tarragona Drive Peoria, AZ 85383

$865,000

3 Beds

3 Baths

2,387 SqFt

Status Active

MLS # 6778865

Property Type Single Family Residence

Price Type --

Discover this exceptional MONTAGE model, a RARE FIND featuring 3 spacious bedrooms and 3 luxurious baths, including DUAL PRIMARY SUITES for ultimate convenience and privacy. This beautifully upgraded home boasts over $220,000 in enhancements, showcasing high-end finishes throughout its open floor plan—perfect for modern living and entertaining. Additional features include a den, island kitchen with granite counters, central vacuum system, and stylish plantation shutters. Situated on a PREMIER LOT with no direct neighbors behind you, this home offers added privacy and serene outdoor living. Enjoy the Built In BBQ, Pergola, custom outdoor dining table and firepit. Enjoy year-round comfort with a mini split system in the main garage and unwind in the inviting hot tub added in 2021. Both garages have epoxy flooring. Exterior was painted in 2023. There are 2 community centers with 2 outdoor pools and one indoor pool for lap swimming. Beautiful golf course, pickleball and tennis courts. Enjoy all the clubs including but not limited to Wine, Cars, Cards, Crafting and special interests. 2 Work out areas, 3 restaurants, special dinners and comedy club nights. It's a lifestyle that comes with this beautiful home in Trilogy at Vistancia!!

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119 W Courtney Lane Tempe, AZ 85284

$865,000

4 Beds

2.5 Baths

2,681 SqFt

Status Active Under Contract

MLS # 6772462

Property Type Single Family Residence

Price Type --

Welcome to this gorgeous 4-bedroom, 2.5 bath home, located in the highly sought-after, Warner Ranch Estates, one of Tempe's finest Master Planned community. Upon entering you will see an open concept with vaulted ceilings and modern tile floors. The kitchen has been updated with beautiful cabinets, center island and granite countertop. There is an eat-in kitchen along with a formal dining room. The large primary bedroom offers an ensuite with a gorgeous custom shower, duel custom wardrobe, a linen closet and a private exit to the back yard. The other 3 bedrooms have plantation shutters and custom closets. Step into the lush backyard with mature citrus and fig trees. Walking distance to schools, stores and restaurants.Warner Ranch offers walking trails, parks and a community pool.

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25150 N Windy Walk Drive Unit 61 Scottsdale, AZ 85255

New

$865,000

2 Beds

2 Baths

1,781 SqFt

Status Active

MLS # 6785247

Property Type Single Family Residence

Price Type --

Welcome to this elegantly finished and recently updated 2 bed/ 2 bath residence in guard gated Ballantrae Ridge at Windy Walk Troon. Featuring soaring ceilings, modern light toned features with walls of windows and a beautiful low maintenance backyard overlooking renowned Troon Country Club, sweeping views of the valley, sunsets and city lights. This home sits on a prime cul-de-sac lot. All brand new appliances, paint, windows, wood floors and carpeting in bedrooms. Resort style community pool and spa, fitness center and hiking.(See semi-private remarks for update details)

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38500 N School House Road Unit 43 Cave Creek, AZ 85331

$865,000

3 Beds

2 Baths

2,292 SqFt

Status Active

MLS # 6711538

Property Type Single Family Residence

Price Type --

THIS IMMACULATE HOME IS PRICED TO MOVE! Come take a look at this 2022 newly built home that is highly upgraded with over $190,000 in upgrades and landscaping! The Chef's Kitchen feature's GE Monogram Appliances, huge Waterfall Granite center island, extended cabinets with interior lighting and under cabinet lighting in multiple areas. Home has 3 bedrooms, 2 bathrooms and a den/office. Custom flooring throughout finishes off this fantastic home. Garage has new Epoxy floors. There is a community pool, spa, firepit, and pickleball court. Minutes to downtown Cave Creek featuring, Harolds, Buffalo Chip and tons of shopping. Only 30 min to Sky Harbor International Airport. It doesn't get much better than this! Come see this beautiful home before it is gone!

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