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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11098 E Running Deer Trail Scottsdale, AZ 85262

$864,900

4 Beds

2 Baths

2,311 SqFt

Status Active

MLS # 6763727

Property Type Single Family Residence

Price Type --

This is your chance to live in the wonderful Echo Ridge in Troon North! Incredible one-story home sitting adjacent to a wash on a private cul-de-sac! Desert landscaping in the front & back yards. 3-car garage. Discover a modern interior boasting plantation shutters, elegant light fixtures, high vaulted ceilings, fire sprinklers, thick baseboards, & accented walls. You'll love the formal living/dining room & cozy family room w/wood-burning fireplace! Immaculate eat-in kitchen has quartz counters, breakfast bar, pantry, stylish backsplash, center island, plenty of cabinets, & SS appliances. Grand main suite features a lavish bathroom w/backyard access, a double sink vanity, a separate tub/shower, & a mirrored doors walk-in closet. The 4th bedroom can be easily used as an office space if needed! Very private backyard offers a covered patio w/ceiling fans & a refreshing pool w/boulder waterfall. Enjoy miles of hiking trails, parks, restaurants, & the Four Seasons Resort just minutes away. A must-see home!

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44017 N 50th Avenue New River, AZ 85087

$864,900

5 Beds

3.5 Baths

4,408 SqFt

Status Active

MLS # 6728666

Property Type Single Family Residence

Price Type --

Gorgeous 5-bedroom, 4-bathroom home, set on a sprawling 11,200 sqft lot with stunning mountain views! This recently updated residence offers a spacious 4,408 sqft of living space with high ceilings, creating an airy and bright atmosphere. The remodeled kitchen is a chef's dream, complemented by a formal dining room with a butler's pantry, a formal living room, a great room, and a separate office. The primary bedroom is conveniently located downstairs. The large upstairs media room is perfect for entertainment, and bedrooms 2 and 3 share a Jack & Jill bathroom. Enjoy comfort year-round with three brand new Trane HVAC units and the benefits of a fully paid-off solar system. The covered patio overlooks a beautifully landscaped garden, heated pool with a connected spa, and waterfall feature. With a custom RV gate and no HOA height restrictions, this home offers both luxury and flexibility!

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2056 N Vista Del Sol -- Mesa, AZ 85207

$864,900

4 Beds

3 Baths

2,756 SqFt

Status Active

MLS # 6753432

Property Type Single Family Residence

Price Type --

UP TO $10,000 TOWARDS RATE BUYDOWN AND/OR CLOSING COSTS with an acceptable offer! Your new home awaits you in Mesa's Estates at Desert Shadow gated community! This fantastic 4-bedroom, 3-bath gem offers the perfect design with an open greatroom floorplan, vaulted ceilings, and a backyard paradise built for entertaining. A versatile bonus room gives you space for a home office, den, or cozy reading space. The modern kitchen features stainless steel appliances, gas stove, convection microwave/oven, and an island breakfast bar, separate formal dining room, and eat-in nook, ideal for gatherings. Enjoy your privacy in the split master suite complete with vaulted ceilings, relaxing nook, and spacious bathroom with separate tub/shower, dual sinks with center vanity, & walk-in closet. Bedrooms 2 and 3 are connected by a Jack-and-Jill, while bedroom 4 comes equipped with 2 closets and an adjacent bathroom. The backyard resort awaits with a Pebble Tec pool with rock waterfall, poolside shower, putting green, and horseshoe pit. Create memorable gatherings with friends and family under the ramada or at the built-in BBQ bar seating area and raised firepit. Complete with RV parking and a 3-car garage plus slab parking for up to 8 vehicles to meet all your needs and accommodate your lifestyle! Recent updates include New HVACs 2022 and 2016, tankless water heater 2016, and R/O system 2022 with modern touches like concrete kitchen counters and patio shades. Conveniently located near the 202 freeway, shopping, hiking trails, Saguaro Lake, and top-rated schools.

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1147 E Flynn Lane Phoenix, AZ 85014

$864,900

6 Beds

4 Baths

1,745 SqFt

Status Active

MLS # 6763198

Property Type Single Family Residence

Price Type --

Discover this stunning, remodeled home that radiates charm and comfort. Nestled on a spacious corner lot, this gem boasts wood-look floors, recessed lighting, and a cozy living room perfect for entertaining. The modern kitchen is a chef's delight with custom cabinets, stainless steel appliances, a pantry, and sleek quartz counters. The main bedroom is a true retreat, featuring plush carpeting, an ensuite with dual sinks, and a spacious walk-in closet. For added versatility, the guest quarters come with its own kitchenette, bedrooms, and bathrooms, offering privacy and convenience. Outside, you'll love the spacious backyard with a covered patio, additional storage/laundry area, a slab patio, and ample space to add a pool. Come see this beauty for yourself and make it yours today!

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19609 E Starflower Drive Queen Creek, AZ 85142

$864,900

3 Beds

2 Baths

1,802 SqFt

Status Active

MLS # 6768943

Property Type Single Family Residence

Price Type --

Discover your dream home nestled on a stunning one-acre lot with NO HOA in the Heart of Queen Creek! This meticulously remodeled custom home combines modern elegance with rural charm, featuring a spacious layout and high-end finishes. Not a detail has been skipped with 3 spacious bedrooms, including a luxurious master suite with a walk-in closet, LVP throughout, gourmet kitchen, elegant dining & living space & expansive outdoor entertaining area. This property also features a finished barn, ideal for work, hobbies, or accommodating animals, offering endless possibilities for your lifestyle. Convenient access to local parks, trails, and recreational activities. See DOCS tab for Drawings for Remodel & Expansion of Liveable and Garage space.

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41904 N Alistair Way Anthem, AZ 85086

$864,900

5 Beds

4.5 Baths

3,197 SqFt

Status Active Under Contract

MLS # 6759927

Property Type Single Family Residence

Price Type --

Introducing your dream home in the prestigious Anthem Country Club! This exceptional residence offers 5 bedrooms, 4.5 baths, and 3,197 square feet of beautifully appointed living space, including a 216 sq. ft. private casita with its own bedroom and bath.The gourmet kitchen is a chef's delight, featuring elegant Corian countertops, 42-inch cabinets with crown molding, a spacious kitchen island with a breakfast bar, stainless steel appliances, gas cooktop, built-in refrigerator, wall oven, microwave, and a convenient warming drawer. Step inside to discover luxurious Italian marble flooring, new carpeting, soaring 12-foot ceilings, and modern electric window shades throughout. The split floor plan ensures privacy in the expansive primary suite, which includes a double vanity, garden tub, , walk-in shower, and a generous walk-in closet. A guest bedroom boasts its own full en-suite, while two additional bedrooms are connected by a Jack & Jill bathroom with double sinks and a separate tub area.Recent upgrades include three new A/C units (installed in 2020), sleek epoxy floor in the 3-car garage a tankless water heater, and an electric vehicle charging station.Located at 41904 N Alistair Way, this stunning home offers the finest in Arizona living, blending luxury, comfort, and style in one of Anthem's most sought-after communities. Don't miss this opportunity to make it yours!

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2298 Aspen Run Pinetop-lakeside, AZ 85935

$864,000

4 Beds

3 Baths

2,260 SqFt

Status Active

MLS # 6730920

Property Type Single Family Residence

Price Type --

Escape to Mountain Luxury in Pinetop Indulge in the fine mountain living you've longed for with this breathtaking new construction cabin nestled in the heart of Pinetop's majestic White Mountains. This stunning retreat boasts four spacious bedrooms and three modern bathrooms, providing ample space for family and guests to unwind in comfort. As you step inside, the grandeur of deep vaulted ceilings with exposed truss beams greets you, framing a spectacular full custom tile fireplace that anchors the living space. The warmth of the huge barn wood accent wall is complemented by the beauty of waterproof engineered flooring throughout, crafting a comfortable, rustic and modern atmosphere. Gourmet experiences await in a state-of-the-art kitchen featuring (see supplement)

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20371 E Calle De Flores -- Queen Creek, AZ 85142

$863,900

3 Beds

2.5 Baths

3,024 SqFt

Status Active

MLS # 6709897

Property Type Single Family Residence

Price Type --

**REDUCED PRICE** Motivated Seller; Move-In Ready! Meticulous Maracay Home located in the exclusive Montelena Community. This elegant home offers a host of UPGRADED desirable features for comfortable living. Grab a book & relax on the large front porch patio that offers no direct sun. Open floorplan featuring 10' ceilings & lots of natural light and beautiful elegant design; GOURMET KITCHEN is the heart of the home featuring Tuscan lights, an oversized island w/ lots of granite counterspace, 5 burner gas cook top, tall cabinets, two wall ovens, butcher pantry, breakfast area; Huge Living room displays more natural light, a 3D wall with accent lighting & gas fireplace; surround sound; 12' SLIDING GLASS DOOR opens to a spectacular view of the pool/waterfall; Owner's suite is a serene retreat w/ plenty of sitting room; Oversized soaking tub, separate tub/shower, double sinks, large walk-in closet featuring new floor-to-ceiling storage shelving by Closets by Design & direct access to laundry room through walk-in closet; Laundry room set up w/ hanging racks, folding table, & extra cabinets; Secondary bedrooms w/ walk-in closets; Versatile flex room suitable for an office, workout room, or study. Backyard is an entertainer's dream with a GAZEBO adorned with party lights, built-in gas BBQ, gas firepit, and a pool with built-in heating/cooling system, and a soothing water feature.

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14861 N Skokie Court Phoenix, AZ 85022

$863,000

4 Beds

2.5 Baths

2,300 SqFt

Status Active

MLS # 6770221

Property Type Single Family Residence

Price Type --

Beautiful home located in the heart of the premier community of Moon Valley. This 4-bedroom, 2.5-bathroom home sits on a large lot with a huge backyard with a large grassy area, large pool, covered patio and a large RV gate and area for your toys. This gorgeous home has been totally remodeled. The spacious living room/great room has high-end hard wood looking vinyl flooring. The kitchen features a large island, granite counter tops and stainless-steel appliances. All bathrooms have been remodeled. Other upgrades include pool resurfacing with Pebble Tec and a ''Baja'' deck, new water heater, new windows and doors, new window covering including an electric closing shade in the great room, new front door, 50-gallon water heater AC/furnace and much more! Winter grass will be green soon

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35108 N 139th Way Scottsdale, AZ 85262

$862,000

4 Beds

3 Baths

3,582 SqFt

Status Active

MLS # 6720222

Property Type Single Family Residence

Price Type --

Experience the best of Scottsdale in this custom home with breathtaking views. The chef's kitchen with breakfast nook and walk-in pantry opens to a cozy yet spacious family room w/fireplace. There's a separate dining room too. The home offers 4 bedrooms plus an office, with the flexibility to transform spaces into additional office areas, a gym, a den, or extra bedrooms to suit your lifestyle. The split primary suite provides owner privacy and comfort. Wood and tile flooring in main living areas. Step outside to your own resort-style backyard, featuring a covered patio, built-in BBQ, Pebble-Tec pool, fire pit, turfed yard, and a rooftop deck. This property is ideal for horses, pets, and kids, with pipe rail fencing for added safety. Easy access to all Scottsdale amenities.

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1852 E Flintlock Way Chandler, AZ 85286

$862,000

5 Beds

3.5 Baths

4,106 SqFt

Status Active

MLS # 6780761

Property Type Single Family Residence

Price Type --

Gorgeous upgraded home on a huge premium lot with 5 BR+3.5 BA, Den, & a cozy loft, soaring ceilings as high as 22' with beautiful flooring throughout the house. This open floor plan offers both comfort and privacy. Kitchen is open and huge with 42'' Cherry cabinets, granite, pantry, breakfast area, a family size island with gas range. The Kitchen opens to a dine in area& a comfortable family room. The Covered patio with brand new epoxy flooring leads to the versatile backyard with a sparkling pool along with a huge yard for entertaining and playing. Dual Masters with one suite downstairs which is an ideal In-laws set up. Master suite upstairs is huge with an upgraded shower & a huge walk-in closet. House comes with 3 car garage with commercial style flooring with one garage offering... offering a raised ceiling. The prime location of this property will give you access to freeways, schools, dining, major medical and shopping areas.

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27603 N 73rd Drive Peoria, AZ 85383

$860,097

3 Beds

2.5 Baths

2,654 SqFt

Status Active

MLS # 6773071

Property Type Single Family Residence

Price Type --

This STUNNING NEW 2024 home on a premium lot w/mountain views is OVERFLOWING w/over $140k of DESIGNER upgrades! Professionally landscaped front yard w/faux grass and paver driveway! BEAUTIFUL GOURMET kitchen w/gas cooktop, quartz countertops, tiled backsplash, island w/breakfast bar + stainless appliance suite! Great room/dining room w/lots of windows! SPLIT primary bedroom suite w/LUXURIOUS ensuite bath w/HUGE walk-in shower! Separate office/flex space! Bring your own backyard design to this PRIVATE backyard w/large covered porch and create the oasis of your dreams! This property has too many upgrades to list here! Come see for yourself. Welcome HOME!

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