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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9590 E Blazing Star Circle Prescott Valley, AZ 86315

$839,990

4 Beds

2 Baths

2,315 SqFt

Status Active

MLS # 6732658

Property Type Single Family Residence

Price Type --

Looking for room to breathe? Then look no further than this 2.01-acre, 4 bedrooms, 2 bath, 2315 sq. ft. home, Move-in ready with open concept living, gorgeous views, spacious kitchen, with knotty pine cabinetry, that is throughout the home, granite countertops, walk-in pantry, stainless steel appliances, two refrigerators, one in main house, the other in the garage, 9 ft ceilings, stoned wood fireplace, with accent natural wood walls on each side. A reverse osmosis system in kitchen, NUVO whole house filtration with saltless water softener and a separate arsenic filtration system, plus a 2400 underground water storage tank with low level warning system. How about enjoying your morning drink in the large screened-in porch watching the breathtaking sunrises over Mingus Mtn. The perimeter is fully cross fenced/no climb with interior cross fencing/no climb and a double gate easy access for your yard toys, with a large additional cross fencing/no climb area for your pets. Mature trees, plus 4 producing fruit trees, enclosed garden, paver patio with a spacious Pergola, plus a paver outdoor firepit. 50' RV pad with 50-amp hookup. 3 car garage with built-in cabinetry, plus the full length of the garage up-top shelving for extra storage. 3 sheds, a 10x20 - spectacular She shed, a 10x14 - Tuff Shed & a 8x10 - garden shed. Whew... This home features simply too many upgrades to list, see under documents for more details.

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9580 E Hansen Way Gold Canyon, AZ 85118

$839,970

4 Beds

3 Baths

3,025 SqFt

Status Active

MLS # 6646047

Property Type Single Family Residence

Price Type --

JUST COMPLETED New Construction contemporary desert home on 1.25 ACRES with direct backyard views of the Superstition Mountains! This new build with NO HOA includes a gorgeous custom iron front door, a MASSIVE open Kitchen & living room with high-end Cabinets, White Quartz Countertops, 36'' Cooktop, Built-in Stainless Steel Microwave and double ovens, & upgraded flooring. The upgrades continue with a stunning Master Bathroom with a Freestanding Soaking Tub, Modern Shower and Beautiful Double Vanities, an oversized four car garage, exceptional energy efficiency with spray foam insulated walls & ceilings, upgrading A/C system, Premium Stucco, & last but not least an upgraded full 12' patio to watch the sunset on the Superstition Mountains from.

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4401 S Atlas -- Mesa, AZ 85212

$839,900

4 Beds

3.5 Baths

2,939 SqFt

Status Active

MLS # 6759832

Property Type Single Family Residence

Price Type --

Don't buy new! This 2022 upgraded PARK FACING home is as good as it gets. Fully upgraded Woodside 5029 plan features every finish a buyer would want! 160K in upgrades! Nearly 1/3 of acre MASSIVE CORNER LOT. Main living space features 15' multislide doors, EXECUTIVE kitchen package with full overlay maple cabinetry, HUGE QUARTZ ISLAND, top of the line appliance package including CHEF sized gas cooktop and hood, wall ovens and large butlers pantry. Upgraded plumbing and electrical fixtures throughout. Large playroom / office off the main living space. 3 bedrooms included jack+jill bath separate from the main living area and primary suite. Don't forget the SHUTTERS throughout, 3 car tandem garage and backyard rocked and ready for your future pool / landscape plans! See QUOTE+PLANS attached!

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518 E Balao Drive Phoenix, AZ 85085

$839,900

4 Beds

2.5 Baths

3,029 SqFt

Status Active

MLS # 6773476

Property Type Single Family Residence

Price Type --

EXCELLENT LOCATION!! MOUNTAIN VIEWS! This nearly new home is MOVE-IN READY! N/S facing, heated pool, GATED community, GE Cafe appliances, plus all of the excellent upgrades you are looking for!! This home is close to all of the growth that is North Phoenix yet tucked away from the hustle and bustle. Two living areas make it great for the kiddos or guests. 3-piece accordion-style sliding door leading to the back yard makes the main living area feel like part of the outdoors. Lock and leave is easy with low maintenance landscaping. Plus... SONORAN PRESERVE is walkable from the community providing miles of hiking and biking trails right out your front door! This one is a MUST SEE!

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6052 N 80th Way Scottsdale, AZ 85250

$839,900

4 Beds

3 Baths

2,061 SqFt

Status Active Under Contract

MLS # 6746136

Property Type Single Family Residence

Price Type --

Wonderful home tucked into the La Casa Rica enclave in Park Scottsdale! A two-story beauty on a large cul-de-sac lot. Two levels of living in this light & bright home. Front room has soaring ceilings, & extends to the formal dining space. The kitchen has a breakfast nook overlooking the back yard. Living space with a fireplace opens into the kitchen & out onto the covered pool-side patio. A full bedroom & bathroom downstairs. Upstairs, a large primary suite has a walk-in closet, & a bathroom with a soaking tub, dual vanities, & separate shower & toilet. Step out onto the private balcony & enjoy mountain views. Two additional guest bedrooms & guest bath are upstairs. A large side-yard has mature citrus trees, & storage. Step out of the living room onto the covered patio & pool. Fabulous cul-de-sac lot in a very desirable community. Just steps from Saguaro High School. Home of the Sabercats, the acclaimed Science & Math Academy, and Nationally recognized Football & Baseball team. Just down the road is the A+ Rated Pueblo Elementary, Scottsdale Dual-Language Immersion school. Miles of park trails begin at this communities edge, and lead throughout South Scottsdale and Old Town. Just minutes to Old Town Scottsdale, Fashion Square, The Shops at 5th Ave, and more. Close to the 101 Freeway, Talking Stick Resort, Spring Training Baseball Fields, Top Golf, Scottsdale Community College, ASU, Kierland, and so much more!

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9519 W Vista Bonito Circle Casa Grande, AZ 85194

$839,900

3 Beds

2.5 Baths

2,804 SqFt

Status Active

MLS # 6708576

Property Type Single Family Residence

Price Type --

This exquisite 3-bedroom, 2.5-bathroom custom Santa Fe home, blends Southwest charm with contemporary comfort, situated on a mountainside lot. The luxurious kitchen features knotty pine cabinets, large pantry with pullout shelves, Wolf stovetop, Miele oven, Bosch dishwasher, and a Sub-Zero refrigerator/freezer. Entertain easily with multiple seating areas. Meticulous attention to detail is evident in the spa-like primary bath, which boasts two granite vanities, Jacuzzi bathtub, large shower, and indulgences like a walk-in closet, an additional closet, and a separate exit to the back patio. The garage features a durable epoxy-coated floor, and entire home benefits from a water softener. Enjoy outdoor living on the beautifully crafted flagstone patios. Adjacent 1.3 acre lot also available available for sale. Stay comfortable year-round with two newer Trane AC units. This home is a true gem, offering a unique combination of style, luxury, and functionality.

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3609 N 188th Avenue Litchfield Park, AZ 85340

$839,900

4 Beds

2.5 Baths

3,067 SqFt

Status Active

MLS # 6712128

Property Type Single Family Residence

Price Type --

***IGNORE DAYS ON MARKET***Stunning residence nestled on over 1 ACRE of land in gated Litchfield Farms, this is the one you've been waiting for! CIRCULAR DRIVEWAY, a spacious 3-car garage, & an RV gate will greet you upon arrival. Build your FUTURE DETACHED RV garage for all your toys! Home exterior just freshly painted. Discover an impressive interior showcasing tile flooring, a neutral color palette, vaulted ceilings, & a delightful FIREPLACE. The remarkable kitchen boasts staggered cabinets with CROWN MOULDING, built-in appliances, a pantry, a wall oven, recessed lighting, & an island complete with a breakfast bar. The primary bedroom features soft carpet in all the right places, private outdoor access, an immaculate ensuite with dual sinks, & a walk-in closet. You will find an oversized backyard offering TONS of potential to be transformed into your own private oasis! Don't miss out on this one!

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8313 E Redwing Road Scottsdale, AZ 85250

$839,900

5 Beds

2 Baths

2,069 SqFt

Status Active

MLS # 6728882

Property Type Single Family Residence

Price Type --

SINGLE LEVEL+ HUGE LOT + 5 Bedrooms + Pool in Fabulous Park Scottsdale ~ PRIME location on CUL-DE-SAC steps to the CANAL ~ Rare Hallcraft floor plan w/SPACIOUS & PRIVATE FRONT COURTYARD ~ Bonus OFFICE/FLEX SPACE ~ 2069 SQFT ~ Spacious Kitchen ~ S/S appliances ~ Appliance garage built into kitchen cabinets ~ Updated faucet + sink ~ Great countertop space ~ Flat top cooktop ~ Large Primary Bedroom w/direct access to backyard ~ Walk-In Closet ~ Primary Bathroom features dual sink vanity & step-in shower ~ Split floor plan w/Primary Bedroom + a Guest Bedroom on one side & 3 Bedrooms on opposite side of home ~ Guest Bathroom features a tub/shower combo & dual sink vanity ~ Spacious Bedrooms ~ DUAL PANE Windows ~ Ceiling Fans t/o ~ Wood-like tile floor t/o ~ Plantation Shutters ~ HVAC 4 years old ~ Direct access to house from GARAGE through LAUNDRY ROOM ~ Huge lot w/lots of FRUIT TREES & open space to create your DREAM BACKYARD ~ Large pool & great COVERED PATIO to entertain ~ It's not easy to find a single level 5 bedroom house on such an AMAZING LOT ~ UNBELIEVABLE LOCATION walking distance to the Canal, Saguaro High School & A+ Rated Spanish Dual Language Immersion Pueblo Elementary School ~ Short walk or bike ride to the Scottsdale Greenbelt, Chaparral Park, Chaparral Dog Park, Baseball Fields, Soccer Fields, Xeriscape Garden, the 101 Freeway, Scottsdale Community College, Talking Stick Fields ~ 3 Miles to Old Town Scottsdale, 15 Minutes to PHX Airport ~ You don't want to miss this one!

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6105 W Kimberly Way Glendale, AZ 85308

$839,900

6 Beds

4 Baths

4,128 SqFt

Status Active

MLS # 6731137

Property Type Single Family Residence

Price Type --

**PRICE DROP* Executive style home! New paint & carpet. Walk in through the massive double doors to a formal living room and dining room. Follow the travertine stone flooring to the great room and chef's kitchen with overwhelming amounts of cabinets, some with pull-outs. Built in ovens and gas cooking. Breakfast nook with view of serene grass backyard and pool area. Master bedroom ensuite and 2 other bedrooms on the 1st floor. Check out the exquisite lighting throughout. Laundry is on 1st floor next to the walk-in pantry. Upstairs are the other 3 bedrooms and 2 baths. Game room could be another bedroom if needed. Outside is a gorgeous pool with waterfall and changing light colors along with the built in heated spa. Fruit trees too!

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1120 Sunrise Boulevard Prescott, AZ 86301

$839,900

3 Beds

3 Baths

2,247 SqFt

Status Active

MLS # 6740079

Property Type Single Family Residence

Price Type --

This stunning new construction home, situated in the highly desirable Yavapai Hills, boasts outstanding curb appeal. For all the amazing details about this home, you'll want to watch the builder video under the photos. Upon entry, the open, great room split bedroom design concept immediately impresses. The great room features a gas fireplace and floods the space with natural light from the 12-ft sliding glass door. The kitchen is a chef's dream, featuring a six-burner gas cooktop, a beautiful tile backsplash that extends from the counters to the base of the cabinets and an elegant island with pendant lighting and quartz counters serving as the centerpiece & providing a contrasting accent to the flanking countertops. The cabinetry includes soft-close doors/drawers & dovetail construction. The massive walk-in pantry includes a dedicated circuit for an additional fridge or freezer. The master suite offers dedicated access to the rear covered patio, with ceiling fans installed in all bedrooms and the great room. The spa-like master bathroom includes an elegant tile backsplash from the vanities to the ceiling, floating vanities with indirect LED lighting, a double vanity, and a 42-inch tall massive walk-in shower with floor-to-ceiling tile. The guest bathroom is a full bath with a floating vanity, quartz counter, and indirect kick lighting and is flanked by the two spacious guest bedrooms. The home includes an ERV unit for fresh air circulation, 100% spray foam insulation, and wood plank tile floors throughout except for the three bedrooms. Custom modular closet systems provide additional storage solutions. Solid core doors and custom closet systems enhance functionality throughout the house. The 3.5-car garage is fully insulated in the ceiling and exterior walls, insulated overhead doors, WiFi-enabled openers and electric car charging plug. A tankless hot water heater with a recirculating pump is installed, and there's a convenient garage door leading to the backyard. The property provides a natural buffer with dedicated open space behind the house, enhancing privacy and views. Additional highlights include a HERS rating of 42, Milgard windows, gutters, downspouts, enclosed eaves, full synthetic stucco, a post-tension slab, an electric vehicle plug in the garage, and expansive paver patios with stack stone columns. The home is enveloped in full synthetic low-maintenance stucco and includes elegant paver driveways, walkways, and patios. The front and rear landscaping are fully completed, a rare find for new construction and offers excellent long-distance views of Glassford Hill and the Mingus Mountain Range. The newly finished home is ready to make it your own.

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2755 E Palmer Street Gilbert, AZ 85298

$839,900

4 Beds

4 Baths

4,553 SqFt

Status Active

MLS # 6739334

Property Type Single Family Residence

Price Type --

You will fall in love with this beautiful 4,553sf home in the highly sought after Shamrock Estates! Features 4 large upstairs bedrooms, 3.5ba. Loft, Game Room, and home office space with its own PRIVATE staircase. The main level has large living area plus formal dining with an open design, Great for both everyday living or entertaining. Gourmet kitchen showcases Granite Countertops matching appliances, Walk-in Pantry is a Chef's dream with a convenient hi top breakfast bar. Community has three parks, and a Biking/Walking Path to enjoy the beautiful Arizona sunsets. Chandler Traditional Academy-Freedom was ranked 10 out of 10 on great schools.org.

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8731 E Minnezona Avenue Scottsdale, AZ 85251

$839,900

3 Beds

2 Baths

2,250 SqFt

Status Active

MLS # 6752363

Property Type Single Family Residence

Price Type --

Priced to Sell!! Beautiful house located in Scottsdale close to Entertainment district, Fashion Square and 101! The kitchen offers wood cabinetry, SS appliances, granite counters, recessed lighting, and an island w/ breakfast bar. Each bedroom has newer plush carpet and a walk in closet! Keyless entry, Ring Doorbell, Smart thermostat, ADT and Directv ready! Backyard with modern pool was finished in 2019 with travertine tile, Large Baja shelf, barstools in the pool and large gazebo! The backyard is very private and quiet with only one neighbor directly bordering. Steel roof has LIFETIME warranty! AC was replaced in 2022. Pipes have been epoxy lined!!

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