NAR Data Shows Now Is a Great Time to Sell!

NAR Data Shows Now Is a Great Time to Sell! | Simplifying The Market

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).

NAR Data Shows Now Is a Great Time to Sell! | Simplifying The Market

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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15767 W Edgemont Avenue Goodyear, AZ 85395

$830,000
3 Beds
3 Baths
2,219 SqFt
Status Active
MLS # 6769733
Property Type Single Family Residence
Price Type --
Outdoor oasis with a guest house on the 15th hole of Tuscany East Golf Course in the sought-after Pebblecreek Community. The main home features 2 bedrooms with plank wood-look tile & a versatile office/den. The separate guest house also includes plank wood-look tile, a walk-in closet, & a full bath. Common areas boast tile flooring & crisp white shutters on every window, while the gourmet kitchen offers granite countertops, stainless appliances, and a large island with breakfast bar. The backyard showcases a $140k custom paver design bar & grill area with a gas BBQ, side burner, fridge, firepit, water feature, & two large Alumawood Pergolas. Lush landscaping with citrus trees & mountain views. The 2.5-car garage includes a workbench, 2021 water heater, softener, & golf cart parking. Resort-Style Living in Pebblecreek with Private Guest House & Backyard Entertainment Oasis on the Golf Course! Welcome to luxury living in the exclusive Pebblecreek Resort Community! This stunning property is located on the 15th hole of the Tuscany East Golf Course, offering breathtaking mountain views and a backyard oasis designed for ultimate entertaining. This home is the epitome of resort-style living. Property Features: Main Home - 1,967 sq. ft. 2 Bedrooms 2 Baths + Office/Den æ Experience the ultimate in open-concept living, featuring a stunning gas fireplace framed in sleek granite, perfectly complemented by panoramic golf course views right from your living room. A blend of elegance and comfort designed to impress! æ Sleek tile flooring flows throughout the common areas, offering both modern style and effortless maintenance. Perfect for a contemporary, low-maintenance lifestyle! æ The bedrooms and office/den feature elegant plank wood-look tile flooring, blending the warmth of wood with the durability and style of modern design. A perfect touch of sophistication for these inviting spaces! æ Master Suite: Indulge in a spacious glass-enclosed shower, complemented by a custom walk-in closet. The en-suite bathroom boasts dual sinks with sleek granite countertops, offering both luxury and functionality for your everyday retreat. æ Chef's Kitchen: Elevate your culinary experience with gleaming granite countertops, top-of-the-line stainless steel appliances, and a spacious island perfect for prep and entertaining. Enjoy a lowered breakfast bar for casual dining, beautiful walnut cabinetry with pull-out shelving, recessed lighting, and a cozy breakfast nook for your morning rituals. A true blend of style and function! æ Crisp white shutters adorn every window, providing an elegant touch while enhancing privacy and energy efficiency. Perfectly designed to balance style and function, these shutters create a serene atmosphere throughout the home. æ Expansive laundry room featuring built-in overhead cabinets that offer abundant storage space, complemented by a convenient sink. This well-designed area combines functionality with organization, making laundry day a breeze! æ Office/Den: This versatile space features a convenient queen-size Murphy Bed, effortlessly transforming it into a cozy guest room when needed. Perfect for maximizing functionality without sacrificing style! æ Two Full Baths: Elegantly updated with premium finishes that elevate the space, blending luxury and functionality for a spa-like experience. Each bath is designed with meticulous attention to detail, ensuring a stylish retreat for everyday use. æ Private Courtyard: A tranquil entryway that exudes charm and elegance, offering a serene escape that beautifully enhances the home's overall appeal. This inviting space is perfect for relaxation and entertaining, adding a touch of sophistication to your outdoor living experience. æ 2.5-Car Garage: This spacious garage features a full workbench, complemented by custom cabinets and overhead racks, providing an abundance of storage space for all your tools and equipment. Designed for both functionality and organization, it's the perfect workspace for any enthusiast! æ Recent upgrades include a new 2021 water heater and a state-of-the-art water softener and filtration system, ensuring optimal comfort and efficiency throughout your home. Enjoy peace of mind knowing that these essential systems provide reliable performance and enhanced water quality for your everyday needs. Private 252 sq. ft. Guest House æ The casita boasts a generous walk-in closet and a stylish full bath, offering a perfect blend of comfort and privacy. This well-appointed space is ideal for guests or as a personal retreat. æ The built-in queen-size Murphy bed effortlessly combines space-saving functionality with style, transforming any room into a cozy guest suite at a moment's notice. This ingenious design enhances versatility, making it a perfect addition to your home while maximizing living space without sacrificing comfort. æ Experience the beauty of plank wood-look tile flooring, offering the warmth and richness of natural wood while providing the durability and ease of maintenance that modern living demands. This stylish flooring choice adds a touch of sophistication to your space, perfectly blending aesthetics with functionality. æ Full bathroom with shower/tub combo. $140k Backyard Oasis æ Discover an expansive custom paver patio designed for outdoor enjoyment, complete with a large firepit, a serene water feature, and breathtaking mountain views. This stunning outdoor oasis invites you to relax and entertain in style, making it the perfect setting for memorable gatherings or peaceful evenings under the stars. æ Enjoy the elegance of two extended Alumawood Pergolas that provide both stylish shade and architectural flair. These beautifully designed structures create an inviting outdoor ambiance, perfect for entertaining or relaxing in comfort while enhancing the overall aesthetic of your outdoor space. æ Elevate your outdoor cooking experience with a built-in gas-connected barbecue, complete with a side burner and fridge, all centered around a spacious extended bar. This stylish setup is perfect for entertaining friends and family, making it easy to prepare meals and enjoy refreshing drinks while basking in the beauty of your outdoor oasis. æ Experience the convenience of a remote-controlled sunshade, allowing you to effortlessly adjust your outdoor space's shade and ambiance with the push of a button. This modern feature not only enhances comfort but also adds a touch of luxury to your outdoor living area, ensuring you can enjoy the perfect balance of sunlight and shade at any time. æ Immerse yourself in lush landscaping that showcases vibrant lemon, orange, and grapefruit trees, creating a stunning oasis right in your backyard. The newer 2021 irrigation system ensures these fruitful trees thrive, providing both beauty and the potential for homegrown citrus delights. This thoughtfully designed outdoor space combines aesthetics with practicality, enhancing your enjoyment of nature's bounty. Resort Amenities PebbleCreek's resort-style living offers a truly exceptional array of amenities tailored to an active adult lifestyle in its vibrant 55+ community. From top-notch fitness facilities to a variety of recreational options, the amenities provide endless opportunities for wellness, relaxation, and social engagement. Whether residents are looking to stay fit, indulge in creative arts, or connect with like-minded neighbors, PebbleCreek ensures a dynamic lifestyle where leisure and activity seamlessly blend, making every day feel like a vacation. Community Centers: æ Tuscany Falls Clubhouse: This clubhouse includes a ballroom, auditorium, multi-purpose rooms, billiards, and a private dining room. æ Eagle's Nest Clubhouse: Features include a large resort-style swimming pool, library, and additional spaces for various activities. Fitness Facilities: æ The state-of-the-art fitness center at the Tuscany Sports & Aquatics Complex features 8,000 square feet of workout space. It includes fitness studios, cardio, weight training equipment, and rooms for fitness classes like yoga, pilates, and aerobics. æ Additionally, the facility offers two indoor lap pools, outdoor lap pools, whirlpools, and saunas. Tennis and Pickleball: æ PebbleCreek boasts an expansive 20-court pickleball complex and 13 tennis courts, providing ample space for both casual play and competitive events. The tennis courts include both hard and clay surfaces, catering to various player preferences. Golf: æ The community has 54 holes of championship golf, divided between the Eagle's Nest and Tuscany Falls courses, each offering beautiful views and top-tier facilities, including pro shops and practice areas. Outdoor Recreation: æ For other outdoor activities, residents can enjoy bocce ball courts, a softball field, and a dog park. Classes and Clubs: æ There are numerous classes available, from lifelong learning opportunities to fitness programs. These include golf lessons, pickleball skill-building sessions, and various hobby clubs like wine tasting, RVing, and arts and crafts.

13227 W Palo Verde Drive Litchfield Park, AZ 85340

$830,000
4 Beds
3.5 Baths
3,897 SqFt
Status Active
MLS # 6770497
Property Type Single Family Residence
Price Type --
Prepare to be amazed! Check out this fantastic 4 bed, 3.5 bath residence now on the market! Nestled on a premium corner lot and featuring a beautiful facade w/stone accents, manicured desert landscape, 3 garage spaces, an RV gated, and well-laid pavers. Inside you will find a spacious dining & living area plus a family room, boasting soft carpet in all the right places, crown moulding, and warm palette throughout. Prepare delicious meals in this gourmet kitchen, comprised of wood cabinetry w/crown moulding, granite tile counters & backsplash, recessed lighting, stainless steel appliances, and an island complete w/a breakfast bar. End your busy day in the primary bedroom, boasting private outdoor access, a walk-in closet, and a lavish ensuite w/dual vanities. You'll also find an open den and a large bonus room w/plantation shutters, ideal for an entertainment center. Lastly, the wonderful backyard includes a covered patio, attached pergola, artificial turf, built-in BBQ, and a refreshing pool/spa combo w/fun water features! Don't miss out!

1643 S Ponderosa Drive Gilbert, AZ 85295

$829,999
4 Beds
3.5 Baths
3,722 SqFt
Status Active
MLS # 6737576
Property Type Single Family Residence
Price Type --
Welcome to the Lyons Gate community located in Gilbert! This stunning, freshly painted residence offers an abundance of space, perfect for comfortable living and entertaining. The home is a spacious 2-story, split layout with the master bedroom conveniently located downstairs along with an office in the front room. The upstairs serves as its own private getaway with additional bedrooms, a large loft, and a cozy extra space perfect for an office or craft area. Enjoy the luxury of expansive rooms, elegant finishes, and a prime location in one of the most sought-after neighborhoods. Take advantage of all that Gilbert has to offer, including parks, shopping, restaurants, entertainment, and much more!

11013 N Hershey Street Surprise, AZ 85388

$829,995
4 Beds
3 Baths
2,563 SqFt
Status Active
MLS # 6784074
Property Type Single Family Residence
Price Type --
Come experience this beautiful Skybrook floorplan located in our all-ages gated master planned community featuring an active lifestyle with golf, clubhouse activities, pools, sport courts, professional spa, and an on-site restaurant and bars. The gourmet kitchen makes a statement with its premium finishes, upgraded cabinets, and stainless steel Kitchen Aide appliances. The open-concept great room is the perfect atmosphere with 90 degree sliding doors to connect the dining area and expanded covered patio that is ideal for entertaining. The primary bedroom suite is the perfect retreat that includes large windows providing tons of natural light and offering a spa-like bathroom that features a stunning shower with a sitting area, dual sink vanity, and walk-in closet.

1954 W Sienna Bouquet Place Phoenix, AZ 85085

$829,990
5 Beds
4.5 Baths
3,018 SqFt
Status Active
MLS # 6752480
Property Type Single Family Residence
Price Type --
Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, &/or price adjustments. Move-in October. Two-story Prato floorplan with first-floor owner's suite featuring a glass walk-in shower, plus an additional first-floor suite. Chef kitchen with Whirlpool gas cooktop, white cabinets, and quartz countertops. Upgraded tile and carpet, center slider for indoor-outdoor flow, upstairs suite with added bathroom, Smart Home technology, soft water loop, and front yard desert landscaping with main line to the backyard.

1946 W Sienna Bouquet Place Phoenix, AZ 85085

$829,990
4 Beds
3.5 Baths
2,938 SqFt
Status Active
MLS # 6752490
Property Type Single Family Residence
Price Type --
Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, &/or price adjustments. Move-in October. Popular two-story Prato floorplan with 2.5 car garage. First-floor owner's suite with glass walk-in shower, chef kitchen with Whirlpool gas cooktop, 42'' white cabinets, and quartz countertops. Features include French doors at the den, laundry sink and cabinets, upgraded tile and carpet, center slider for outdoor living, an upstairs suite with added bathroom, and Smart Home technology. Desert landscaping in the front yard.

1921 E Yale Street Phoenix, AZ 85006

$829,990
4 Beds
3 Baths
1,792 SqFt
Status Active
MLS # 6781597
Property Type Single Family Residence
Price Type --
Historic Charm Meets Modern Comfort. Discover this stunning 1925 historic home in the coveted Gibbons Place neighborhood of central Phoenix. Meticulously remodeled, this 3-bedroom, 2-bathroom main house with guest house offers the perfect blend of classic elegance and contemporary convenience. Main House Features: Original hardwood floors,Custom kitchen with tile backsplash, quartz countertops, waterfall island, stainless steel appliances, and gas range, New fixtures, fans, baseboards, doors, and trim, Dual-pane windows, Cozy fireplace, Master bathroom with a tiled walk-in shower and walk-in closet, Upstairs loft leading to a large walk-out deck, Spacious covered patio Detached 2-car garage, New block wall and artificial turf landscaping, and a Huge lot. The fully remodeled one-bedroom, one-bathroom guest house is perfect for a mother-in-law suite or as an income property with a potential rental income of $1,500 per month. Full kitchen with stainless steel appliances, custom cabinets, and quartz countertops, Large living room, Private driveway and yard, 1-car carport, Don't miss this incredible opportunity to own a piece of Phoenix history.

5719 E Sayan Street Mesa, AZ 85215

$829,900
3 Beds
3 Baths
2,311 SqFt
Status Active
MLS # 6771981
Property Type Single Family Residence
Price Type --
Step into Luxury w/ this MOVE-IN-READY meticulously UPGRADED home, where timeless elegance meets modern sophistication! Multitude of Features include: Premium Lot neighboring Wash & Park Views, Gorgeous 8' Iron Entry Door w/ Elegant Glass Paneling, Breathtaking 20' Wall-of-Glass Sliding/Stacking Glass Patio Door, Gourmet Kitchen w/ Expansive 11' Island, 3cm Granite Countertops, Maple Cabinetry w/ 3'' Crown Molding, Premium Whirlpool SS Appliances - 36'' Cooktop, Built-In Oven&Microwave, Range Hood, Expanded Great Room w/ Added 4', Upscale Portofino Master Ensuite w/ Walk-In Super Shower, Double Vanity w/ added Drawers, Fabulously Spacious ~11'x8' Walk-In Closet, Roomy Office or Extra Bedroom w/ Closet to be used as preferred. Additional Upgrades include: Modern Wood-Like Tile Flooring & Modern Wood-Like Tile Flooring T/O, 16'x8' Charleston Garage Door, Upper&Lower Cabinetry in Laundry Room, Soft Water Loop, Pre-wiring for Pendant Lights and Ceiling Fans, Extra Can Lights with dimmers, Rough-Ins for Reverse Osmosis, & MUCH MORE (See Complete List in Photos)!!! This lovely Abode offers a perfect blend of elegance and functionality - Tour today and experience exceptional living! This Gated Resort-Style Community is in the esteemed Red Mountain area of NE Mesa featuring 2 covered gated entrances, expansive open spaces, interconnected trails, 3 parks, a clubhouse with a huge pool, fitness facilities, sports courts, Pickleball courts, an Event Lawn, Pavilions, and Children's Play Areas! These amenities create a perfect environment for walking, relaxing, sports, or family gatherings. Also, Reserves at Red Rock is Conveniently LOCATED w/ easy access to the 202 Red Mountain Freeway, surrounded by top-rated AA++ Mesa Public Schools like the New K-12 American Leadership Academy, Shopping, and Fine Dining. In addition, close to Usery Mountain Regional Park, Salt River Recreation, and Saguaro Lake, offering opportunities for hiking, boating, paddleboarding, and enjoying the stunning mountain scenery. Just a 25min drive to Sky Harbor & Scottsdale/Old Town, as well as to the Lake & River!!! PERFECT LOCATION for easy access to limitless activities!!!

20530 W Mariposa Street Buckeye, AZ 85396

$829,900
2 Beds
2 Baths
2,142 SqFt
Status Active Under Contract
MLS # 6771968
Property Type Single Family Residence
Price Type --
Located in the resort style 55+ community of Victory at Verrado close to Phoenix, AZ with both golf course and mountain views, this gorgeous home is a rare find! Backyard adult playground includes a sunken spa with overhead pergola, putting green, water/fire feature and bocci ball court. Entertain guests on the extended covered patio complete with built in gas barbecue and granite bar. On the 13th hole of Victory Golf Course this home is 2142 sq ft with 2 bedrooms, den with double doors, 2 baths & an open floor plan. Too many upgrades to mention - must be seen! Victory at Verrado is a stunning active adult community complete with 4 resort style heated pools, tennis, pickle ball and bocci courts as well as private activities and events. This incredible energy efficient home will not last! At the heart of the community is The Victory Club, a state-of-art clubhouse boasting three resort-style pools + a lap pool, a 7,000-square-foot Life Performance Training Center, full spa, movement studio and yoga lawn, full bar and restaurant and so much more! Improve your handicap at one of the two championship golf courses, visit downtown Verrado for excellent shopping & restaurant opportunities, explore 21 miles of trails, and partake in community events. This is not just a home, it's a lifestyle!

9210 S Watson Road Buckeye, AZ 85326

$829,900
4 Beds
2 Baths
2,171 SqFt
Status Active
MLS # 6772683
Property Type Single Family Residence
Price Type --
Welcome to your new beautiful corner lot property sitting on 3.5+ acres ! This unique single story home offers beautiful mountain views & sunsets, huge pool with enclosed backyard perfect for your privacy & entertainment, car garage. Inside you will find tile throughout high traffic areas, kitchen with huge island open to the family room, pantry, granite counters in kitchen and bathrooms, formal dining room, eat in kitchen, split floor plan with dual vanities and separate tub and shower in the master suite, outside you will have a round exercise pen, covered horse stalls with automatic waters, a 270x160 lightened roping arena, power and water all throughout the property & NO HOA

6307 E Gelding Drive Scottsdale, AZ 85254

$829,000
3 Beds
2 Baths
1,704 SqFt
Status Active
MLS # 6742573
Property Type Single Family Residence
Price Type --
Welcome to this beautifully remodeled 3-bedroom, 2-bath home in the highly desirable 85254 area, located on a quiet cul-de-sac. The open-concept great room features wall-to-wall travertine flooring and a sleek kitchen with European-style cabinets, quartz countertops, and stainless-steel appliances. The primary suite offers outdoor access, large closet, and a walk-in shower. Enjoy the spacious backyard oasis with a built-in BBQ, pizza oven, water feature, and fire pit. PERFECT for RV enthusiasts, this home features RV gates, parking, and multiple outlets (220V, 110V 30 amp, and 110V 15 amp) behind the gate. Plus, no HOA! Minutes from Kierland and Scottsdale Quarter.

7504 E Almeria Road Scottsdale, AZ 85257

$829,000
4 Beds
3 Baths
2,272 SqFt
Status Active Under Contract
MLS # 6744674
Property Type Single Family Residence
Price Type --
PRICED BELOW APPRAISED VALUE! APPRAISAL IN HAND! This home is absolutely stunning and entirely new construction! With 2,272 sq. ft. of permitted custom design and AMAZING upgrades throughout, it's a true gem. Nestled in the heart of South Scottsdale, it boasts a fantastic location with freeway access and an abundance of surrounding entertainment. This corner-lot home features 4 generously sized bedrooms in a split floor plan and three large bathrooms. Upon entry, you'll find a great room with a large open-concept space leading to the kitchen area. The gorgeous custom kitchen setup includes a center island, upgraded granite countertops throughout, additional cabinetry in the dining area, and a beverage/wine fridge. There is even additional plumbing if you'd like to add an optional bar sink With ample storage and cabinet space, all upgraded stainless steel appliances are included. The home flows seamlessly into a vaulted bonus room that extends into a separate wing of the house. The master suite features a huge walk-in shower, his-and-hers bathroom vanity stations, and a large walk-in closet. The seller spared no expense, using top-notch design and materials, including upgraded tiles and glass shower surrounds in all showers and baths. The laundry room is spacious with additional storage. A custom wood beam is installed in the high vaulted ceiling, and the beautiful, easy-care landscape design in the front is low-maintenance. The backyard features a long extended patio, two RV gates, and two side gates, offering plenty of room to create your perfect space. This home is priced to sell and is well under market value per square foot. The seller is offering a one-year warranty, and all warranties convey with the new AC unit, new roof, new windows, and manufacturers' warranties on the appliances. Seller is offering a $20,000 incentive to be used towards backyard landscape or however, client chooses! WELCOME HOME!

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