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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11051 N 45th Place Phoenix, AZ 85028

$835,000

3 Beds

2 Baths

2,285 SqFt

Status Active

MLS # 6770549

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the vibrant Desert Gardens community! This spacious 3-bedroom, 2.5-bath residence offers a perfect blend of comfort & convenience. Step inside to discover an inviting layout featuring updated windows and flooring throughout. The heart of the home boasts an open living area that flows seamlessly into a well-appointed kitchen, perfect for entertaining family and friends. The expansive backyard is a true oasis, featuring lush grass, ideal for play and relaxation, plus a private pool for those warm Arizona days and extra storage sheds. Enjoy outdoor gatherings or serene evenings under the stars! As part of a welcoming HOA, residents have access to beautiful green spaces, tennis, pickleball, and basketball courts, fostering a strong sense of community and active lifestyle. Located just minutes away from popular spots like OHSO, Whole Foods, Trader Joe's, Sprouts, Fry's, Aldi, PetSmart, Target, Walmart, Costco and Stone Creek Golf Course, you'll have all your shopping and dining needs at your fingertips. Plus, with the upcoming revamped Paradise Valley Mall development nearby, exciting new options are on the horizon! Don't miss your chance to own this delightful home in a prime location. Schedule your showing today and experience the best of Desert Gardens living!

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10810 E Bella Vista Drive Scottsdale, AZ 85259

$835,000

3 Beds

2 Baths

2,093 SqFt

Status Active

MLS # 6771251

Property Type Single Family Residence

Price Type --

Enchanting residence located in Scottsdate Ranch boasts pride of ownership and modern updates throughout! Displaying a 2-car side garage and mature landscape. Enter through the custom double doors to find travertine flooring, tall vaulted ceilings, stylish light fixtures, soft natural light, and a floor-to-ceiling tile fireplace in the combined living & dining room. Beautiful kitchen comes with ample white cabinets accentuated by crown moulding, SS appliances, mosaic tile backsplash, a pantry, granite counters, and a breakfast nook. The romantic primary bedroom retreat will captivate you with coffered walls, direct outdoor access, and an ensuite equipped with dual sinks, soaking tub, and two mirrored door closets. Resort style backyard won't disappoint! Showcasing a covered patio for alfresco dining and a refreshing pool, promising year-round enjoyment. Hurry! A deal like this will sell fast!

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27964 N Cindy Lane Queen Creek, AZ 85144

$835,000

4 Beds

2.5 Baths

2,703 SqFt

Status Active

MLS # 6774791

Property Type Single Family Residence

Price Type --

Discover the perfect blend of luxury and country living on this pristine 1.2-acre horse property in Queen Creek! With a 3-car garage, barn, and ample space for horses, this property is built for those who want to embrace the equestrian lifestyle without sacrificing modern comforts. Less than 2 miles from the Rock Peak Wash trails for hiking, biking, and horseback riding, and just minutes from shopping, dining, and entertainment, this stunning 4 bed, 2.5 bath home boasts a bright, open layout with abundant natural light, wood-look tile flooring, and a chef's kitchen featuring quartz countertops, stainless steel appliances, and a large island perfect for gatherings. The primary suite offers a tranquil oasis with a walk-in closet, spa-like rain shower, and private patio access, ideal for & Equestrian Center are just 6 miles awaythis is the country-luxury lifestyle you've been waiting for!

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7121 E Rancho Vista Drive Unit 4004 Scottsdale, AZ 85251

Open House

$835,000

2 Beds

2 Baths

1,092 SqFt

Status Active

MLS # 6775140

Property Type Apartment

Price Type --

Experience unparalleled luxury and breathtaking vistas in this sophisticated condo, where Camelback Mountain feels close enough to touch. Thoughtfully designed, the open floor plan flows effortlessly to a private terrace, ideal for enjoying Scottsdale's spectacular sunsets. This residence offers the rare convenience of two premium parking spaces and a highly coveted storage unit, adding both value and practicality. Enjoy exclusive access to resort-style amenities, including a sparkling pool, state-of-the-art fitness center, and 24-hour concierge service. Nestled in the heart of Scottsdale, just moments from world-class dining, shopping, and entertainment, this home delivers the perfect blend of comfort, elegance, and lifestyle.

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18507 N 94th Street Scottsdale, AZ 85255

$835,000

2 Beds

2 Baths

1,887 SqFt

Status Active

MLS # 6777277

Property Type Townhouse

Price Type --

Gorgeous, former model home in the gated Villas of DC Ranch. The builder didn't spare any expenses when building this model home. From the flooring to the ceiling, this home is dialed in. Featuring 2 large bedrooms, open office/loft, 2 car garage,private courtyard with built in BBQ island with tons of room to entertain. The kitchen opens to the great room with tons of room and counter space at the island. The eat in kitchen is large sized and can definitely host a dinner party. Downstairs also hosts a guest room and full bathroom. Upstairs you'll find an enormous master suite with walk in closet, laundry room, and office loft. Don't miss all the amenities DC Ranch has to offer. Pools, walking paths, playground, and golf! This home is sure to exceed your expectations.Also for lease

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351 W Mountain Sky Avenue Phoenix, AZ 85045

$835,000

4 Beds

2 Baths

2,347 SqFt

Status Active Under Contract

MLS # 6778717

Property Type Single Family Residence

Price Type --

Welcome to Dove Canyon, an exquisite property in the heart of Club West with sweeping mountain views and easy access to South Mountain Preserve Trails. This meticulously maintained single-level home, lovingly cared for by its original owners, showcases true pride of ownership from the moment you step inside. Enter through a grand iron door with sidelights, designed to let in fresh air on Arizona's crisp fall days. Two additional custom iron doors in the primary bedroom and family room enhance this home's charm. Energy-efficient Andersen windows on the south side add comfort year-round. With 10-foot ceilings, a split 4-bedroom, 2-bath layout, and a spacious 3-car garage, this home's thoughtful floor plan is ideal for both entertaining and relaxing. The inviting foyer opens to a forma Welcome to Dove Canyon, an exquisite property in the heart of Club West with sweeping mountain views and easy access to South Mountain Preserve Trails. This meticulously maintained single-level home, lovingly cared for by its original owners, showcases true pride of ownership from the moment you step inside. Enter through a grand iron door with sidelights, designed to let in fresh air on Arizona's crisp fall days. Two additional custom iron doors in the primary bedroom and family room enhance this home's charm. Energy-efficient Andersen windows on the south side add comfort year-round. With 10-foot ceilings, a split 4-bedroom, 2-bath layout, and a spacious 3-car garage, this home's thoughtful floor plan is ideal for both entertaining and relaxing. The inviting foyer opens to a formal living and dining area with serene backyard views. An expansive family room and eat-in kitchen with a center island provide a seamless flow and functionality. Professional upgrades throughout the home include a fully remodeled primary bathroom with stylish cabinetry, counters, a luxurious shower, and a soaking tub. The entire home is adorned with upgraded vinyl plank flooring, adding elegance and durability. The backyard offers a private oasis with a sparkling pool, newly resurfaced cool deck, and a covered patio with mountain views, perfect for Arizona's outdoor lifestyle. Practical updates include a newer variable-speed pool motor, HVAC replacement in 2016, a hot water heater with a recirculation pump (2020), and built-in desk and shelving in the 4th bedroom for a versatile office or den. This home truly combines timeless style with modern comforta beautiful Arizona retreat ready for its next chapter!

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130 W Sunburst Lane Tempe, AZ 85284

$835,000

3 Beds

3 Baths

2,558 SqFt

Status Active

MLS # 6781245

Property Type Single Family Residence

Price Type --

Entertainer's dream in gated Alisanos community. Step into this beautifully upgraded residence where modern luxury meets comfort. The open floor plan welcomes you with natural light and seamless flow from room to room. Incredible curb appeal and a backyard oasis features a top-of-the-line heated saltwater pool installed in 2021 and whole yard LED lighting controlled via your smartphone. Relax under the new pergola with a built-in bar or in the Arizona room with its own fireplace and new split unit. Smart home features include Ecobee thermostats, and a WiFi-enabled irrigation system. The owned solar panels (installed 2022) keep summer bills low. With fresh paint, new flooring, and low-maintenance landscaping, this home is ready for you to move in and start making memories!

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21123 E Mayberry Road Queen Creek, AZ 85142

$834,999

4 Beds

3 Baths

3,073 SqFt

Status Active

MLS # 6757341

Property Type Single Family Residence

Price Type --

Come check out this beautiful 4 bedroom, 3 bathroom home! Enjoy a luxurious primary suite and amazing kitchen that is perfect for hosting and entertaining! The backyard is perfectly designed with a pool that includes a built-in table and chairs for in-pool entertainment. Backyard also includes low maintenance landscaping with artificial grass. There is a 3 car tandem garage that offers great storage! Located in a beautiful and newly built community near tons of shopping, dining and fun!

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9056 E Maple Drive Scottsdale, AZ 85255

Open House

$834,999

4 Beds

2.5 Baths

2,145 SqFt

Status Active

MLS # 6772565

Property Type Single Family Residence

Price Type --

Welcome to luxury living in this move-in ready home in the sought-after Ironwood Village community with Mountain views, only this enclave of DC Ranch can offer! White Carrera Marble tile, lush carpet & wood-like flooring, high ceilings, recessed lighting, plantation shutters, custom closets & high quality details carry throughout the home. Enter into the bright & open floor-plan, into the formal living room & elegant formal dining room - glide into the family room w/ soaring ceilings & cozy fireplace, open to the eat-in-kitchen w/ Frigidaire SS appliances, Corian countertops, curved Peninsula bar-top & breakfast nook. The split-floor-plan deluxe master suite is downstairs & features beautiful bay-window, private patio access, full bath w/ dual-sinks, soak tub, resort-style shower & walk-in-closet - The luxuries extend to the remaining 3 guest bedrooms & 1.5 bathroom, upstairs. 2 car garage w/ epoxy garage floors with built-in cabinets. Enjoy the tranquil backyard complete w/ covered patio, turf grass & sparkling play pool - perfect for family or entertaining. Ideally located close to hiking, tennis, DC Ranch Crossing, Coyotes Ice Den, Grayhawk Golf Course, the 101 and so much more! Don't let your dream home slip away! More the love about this home: Interior & Exterior Paint (June 2019) New vinyl plank flooring throughout entire downstairs (July 2023)

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2231 E Fandango Drive Gilbert, AZ 85298

$834,900

4 Beds

3 Baths

2,649 SqFt

Status Active

MLS # 6732682

Property Type Single Family Residence

Price Type --

REDUCED $30K- WILL NOT LAST AT THIS PRICE!! RARE - 2 Homes Under 1 Roof - Lennars MOST POPULAR Trillium Floorplan - upgraded like Model & Absolutely Stunning VIEWS of the Mountains - NO Homes behind peering into your backyard - very Serene. Main Home is almost 2000 SF w/ Gourmet Kitchen, Massive Island w/ Quartz Countertops , 42'' Luxurious White Cabinetry. SEP Casita has lockable private access to Main Home with FULL KITCHEN, Spacious FAMILY Room , LAUNDRY & WALK IN CLOSET + PRIVATE BEDROOM along w/ its Own Private Entrance and Attached Single Car Garage w/ private access. Great for multi family or elegant guest quarters. Stainless Steel Appliances in both Kitchens, Split 3 Car Garage. Master Bedroom Split with Double Vanities & Oversized Walk In Shower & HUGE Walk In Closet. Backyard professionally landscaped backyard with green grass, sprinklers & pavers. 3rd Car Separate Garage insulated with HVAC & vent for use as shop. Family Room has built in surround sound with speakers. Casita Closet is pre-plumbed for washer & dryer, but currently being used as traditional closet. Ring Doorbell & Security System w/ Eero Equip already installed. Gated luxury community has 2 community parks with covered ramadas, basketball court and walking paths.

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949 E Holland Park Drive Gilbert, AZ 85297

$834,900

4 Beds

3.5 Baths

3,338 SqFt

Status Active Under Contract

MLS # 6747395

Property Type Single Family Residence

Price Type --

PRICED BELOW APPRAISAL! The perfect 2 story home is now available in the desired Kensington Estates! This home features an ideal kitchen with staggered dark wood shaker style cabinets, high-end stainless steel appliances, custom pendant lighting over the Quartz counter-top island, walk-in pantry with separate butler's area for additional storage, wide plank tile flooring throughout, 2 custom slider doors for inside/outside entertaining, one secondary bedroom with ensuite bathroom downstairs, upstairs has a cozy loft for kids/bonus area, primary bedroom is spacious with a sitting area, primary bathroom has dual sinks, separate walk-in shower and soaking garden tub, HUGE walk-in closet with custom shelving & more. The back yard has a covered patio with travertine and synthetic grass area

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35338 N 27th Drive Phoenix, AZ 85086

$834,900

4 Beds

3.5 Baths

4,177 SqFt

Status Active

MLS # 6752963

Property Type Single Family Residence

Price Type --

Stunning and meticulously maintained, this 4-bedroom home (plus 2 bonus rooms) boasts 3.5 bathrooms and spans two stories in the picturesque Tramonto community. The versatile floor plan includes one bedroom and a bonus room on the main level. The primary suite is generously sized with a private bathroom featuring dual vanities, a jetted tub, separate shower, private toilet, and a spacious walk-in closet. Tramonto is a sought-after master-planned community offering an array of amenities such as walking paths, parks, swimming pools (including a kiddie pool), playgrounds, tennis courts, basketball and volleyball courts and more. Conveniently located in north Phoenix near the I-17 and Carefree Highway, residents enjoy easy access to shopping and dining options.

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