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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14131 S 181st Avenue Goodyear, AZ 85338

$825,000

4 Beds

3.5 Baths

3,109 SqFt

Status Active

MLS # 6779098

Property Type Single Family Residence

Price Type --

This home is back on the market because the Buyer could not perform. Request a copy of the Inspection Report, which confirms this home NEEDS NOTHING. The moment you step inside, you'll be captivated by the thoughtful split floor plan, complete with a dedicated teen room and 3rd bedroom with its OWN ENSUITE. Beyond the expansive 4-car garage, the true heart of this home lies in the serene courtyard patio, where the current owners love to unwind. For those who work from home, an office nook provides just the right amount of seclusion. The backyard overlooks a picturesque desert landscape and a 4.8-mile trail. Whether you're cooling off in the pool, cozying up by the gas fireplace in the winter, or enjoying the garden in every season, this home is a sanctuary of comfort and style.

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5529 W Aster Drive Glendale, AZ 85304

$825,000

4 Beds

2.5 Baths

3,082 SqFt

Status Active

MLS # 6779184

Property Type Single Family Residence

Price Type --

WELCOME!! This 4-bedroom, 2.5-bathroom home in Glendale's Marshall Ranch is an exceptional find. Completely remodeled, it offers a blend of luxury and comfort, beginning with a welcoming courtyard that leads into the main area with soaring ceilings and an abundance of natural light. The downstairs area boasts a formal living and dining room, while the family room, featuring a cozy fireplace, opens to a beautifully remodeled kitchen with custom cabinetry, quartz countertops, and brand-new appliances. The primary bedroom on the first floor includes a luxurious bathroom with a soaking tub, walk-in shower, dual sinks, and separate closets, plus private patio access through double doors. Upstairs, an oversized flex room with patio access can serve as an exercise room, movie room, or a any other versatile space. Three additional spacious bedrooms and a fully remodeled bathroom with a soaking tub complete the upper level. The backyard is a private retreat featuring a large covered patio with fans and space for a TV, a fire pit with surrounding seating, and a diving pool with a beautiful water feature. Lush landscaping, including artificial turf and mature trees, adds to the home's appeal. With a 3-car garage and ample space for both entertaining and relaxation, this home truly has it all.

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4126 S Last Chance Trail Gold Canyon, AZ 85118

$825,000

4 Beds

2.5 Baths

3,020 SqFt

Status Active

MLS # 6779335

Property Type Single Family Residence

Price Type --

Magnificent Superstition Mountain & Sunset Views in Gated Mountain Whisper! Prepare to be impressed by extended pavered driveway, spacious private pavered gated front courtyard & arched wrought iron/glass front door. This single level custom home features 4 bedrooms, office/den, 2.5 baths & 3 car garage on a premium 23, 398sf lot with no neighbors on south or west sides. Split floorplan provides privacy for family & friends. Eat-in kitchen offers solid wood cabinetry, slab granite counters & opens to large living room featuring gas fireplace. Lovely primary suite includes luxury bath w/soaking tub and huge walk-in closet. Designer paint, plantation shutters, quality fans, lighting & sunscreens T/O. Over-sized easy-care backyard boasts professionally installed putting green, covered and uncovered patios, pavers & spectacular Superstition Mountain views. 3 car garage sports epoxy flooring & cabinets. Pride of ownership + low maintenance landscaping = time to enjoy Gold Canyon's 5 golf courses, restaurants & world class hiking. 35 min to Phx Sky Harbor.

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1926 W Chisum Trail Phoenix, AZ 85085

$825,000

3 Beds

2.5 Baths

2,567 SqFt

Status Active

MLS # 6779639

Property Type Single Family Residence

Price Type --

Welcome to the charm of a historic neighborhood w/the vibrancy of modern living! This corner lot home boasts nearly 2,600sf of open living space in a vibrant, neighborly community. The keenly designed floor plan features an elegantly appointed owner's en-suite, open loft, and chef's kitchen w/an expanded island, granite countertops, high-end upgrades & wine cooler. Enjoy tile plank flooring & high-end carpet throughout. The landscaped front yard boasts lush plants & turf, while the custom backyard oasis includes travertine pavers and heated play pool w/LED lighting & serene water features. Community amenities enhance the lifestyle with a clubhouse, biking & walking paths, sports (pickleball) courts, an enclosed dog park, and a community pool & splash pad. Includes unique private driveway!

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31020 N 5th Street Phoenix, AZ 85085

$825,000

4 Beds

2.5 Baths

3,028 SqFt

Status Active

MLS # 6779678

Property Type Single Family Residence

Price Type --

** FREE 1% RATE BUYDOWN FOR THE FIRST 12 MTHS** A message from the sellers: ''We love the location of this home! The community is gated and is very family friendly which was important to us. The park is amazing and has a splash pad, two playgrounds and BBQ pits. The community holds several events throughout the year it makes it a super fun place to live. The home itself lent well to the fact that we love to entertain and the layout was perfect for that!'' Located in the serene Sonoran Gate gated community surrounded with stunning desert views, this spacious home is ideal for those who love to entertain. Its generous floor plan flows seamlessly from room to room, making gatherings a breeze. Every detail reflects custom craftsmanship, with upgrades throughout that bring both style and comfort. Outside, a sparkling pool awaits complimented by an outdoor kitchen area and gas firepit, making this the perfect outdoor space. The solar lease helps keep energy costs low with APS savings with summer bills at just $200.00 Embrace the peace and beauty of the surrounding desert landscape in a home designed for both relaxation and celebration.

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4395 E Savannah Circle Flagstaff, AZ 86004

$825,000

4 Beds

3.5 Baths

2,593 SqFt

Status Active

MLS # 6779771

Property Type Townhouse

Price Type --

Welcome to this stunning freestanding townhome, perfectly positioned to back onto Foxglenn park and connect directly to the Urban Trail System—giving you the best of both nature and modern comforts right at your doorstep. Step onto the Trex deck and take in the breathtaking views of the Peaks, where relaxation comes naturally as you overlook the peaceful park setting and stunning view. This home has been beautifully upgraded throughout and is move-in ready!

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7700 E Balao Drive Scottsdale, AZ 85266

$825,000

3 Beds

3 Baths

1,942 SqFt

Status Active

MLS # 6780894

Property Type Single Family Residence

Price Type --

Welcome to sought after guard gated Bellasera! The interior lot offers a peaceful setting for a vacation retreat or year round resort style living. This home boasts approximately 1,900 square feet of living space, a neutral color pallet with three bedrooms and three bathrooms. The property features a courtyard entry with space for entertaining, a private lot, and a casita. The home has a north/south exposure and provides mountain views. Bellasera has a multitude of first class amentities including a well apointed club house and fitness center, community pool, tennis courts and a lighted DOG PARK. It is conveniently located close to shopping, hiking, golf, restaurants, the airport and all Scottsdale has to offer.

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4803 N Woodmere Fairway -- Unit 2006 Scottsdale, AZ 85251

$825,000

2 Beds

2 Baths

1,548 SqFt

Status Active

MLS # 6782445

Property Type Apartment

Price Type --

Embrace the refined lifestyle at Sage Condominiums. This spacious two-bedroom home features a generous den, two luxurious bathrooms with marble countertops, an open kitchen with stainless steel Appliance, light oak wood flooring, and a striking gas fireplace framed in floor-to-ceiling travertine tile. Indulge in resort-style amenities, including a sparkling pool, fitness center, social clubhouse, and a BBQ area perfect for entertaining. Ideally located near Scottsdale's finest arts, dining, and entertainment, Sage Condominiums puts vibrant urban living, boutique shopping, scenic trails, and dynamic nightlife right at your doorstep—placing you at the center of it all.

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8728 E Via De Viva -- Scottsdale, AZ 85258

New

$825,000

3 Beds

2 Baths

1,702 SqFt

Status Active

MLS # 6782496

Property Type Townhouse

Price Type --

Welcome to a Rare Find in Historic Sands North. This remarkable property is on the market! Discover classic Arizona-Modern architecture in this beautifully preserved single-level 1972 townhome, part of Scottsdale's famous E.T. Wright development. Architectural details shine throughout, from the welcoming front courtyard to the optimized floor plan with spacious rooms, gorgeous hardwood flooring, a refreshed kitchen with soft gray cabinetry, and 2 fully remodeled bathrooms. Home Highlights: Classic Mid-Century Design, Generous Living Spaces with oversized owner's retreat. Large backyard complete with private pool. New mid-century lighting fixtures and fresh paint throughout. The community has a heated pool, private RV storage lot, and gated access to Salt River Fields. Superb Location: Minutes to high-end Scottsdale shopping, dining, McCormick-Stillman Railroad Park, Ritz-Carlton PV Resort, and Palmeraie Shops. Don't miss the chance to own paradise in Scottsdale Sands North.

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2607 S 339th Avenue Tonopah, AZ 85354

New

$825,000

3 Beds

2 Baths

1,974 SqFt

Status Active

MLS # 6784876

Property Type Manufactured Home

Price Type --

Don't miss out on this amazing 10 acres with 1974 sq ft home. There is nothing else like it! Beautiful backyard with mature trees, BBQ and fireplace, large shade/carport 60x50 to park all your toys, 60x30 greenhouse, 3 large pastures with shades, fenced with no climb around 5 acres, master has a large walk-in closet, stand-alone soaking tub with separate shower, you are going to love the all the updates in the kitchen. This hard to find 10 acres just has too much to list! Seller willing to split the property.

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17209 W Wildwood Street Surprise, AZ 85388

New

$825,000

3 Beds

3 Baths

2,219 SqFt

Status Active

MLS # 6784992

Property Type Single Family Residence

Price Type --

This Guard Gated Resort Style Golf Community Offers Heated Pools, Spa, Tennis, Pickle ball, Workout facility, Restaurant, and more..Freshly Painted. Better Than New Luxury Home has 2 Master Suites, a Den/Guest Rm and additional powder room. Unique Interior Atrium w/ 4 Panel Slider Travertine floors, Retractable Awnings adds another living space. 4 panel slider out to peb tech play pool, Pergola and Gas Dacor BBQ w/side burners. Gourmet Kitchen inside W/ Gas Cook Top, Double Oven, Microwave, Quartz Counter Tops, 42'' Upgraded Cabs, Tile Backsplash and large Island with breakfast bar. Spacious Walk-in Pantry, Lg pvt Laundry rm. and Cabinets at the garage entry. 10' Ceilings & 8' doors throughout. Service Door, soft water loop, Sink and Storage Cabs in Gar. Ready for a quick close.

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3649 N 56th Street Mesa, AZ 85215

$824,999

5 Beds

4.5 Baths

3,211 SqFt

Status Active

MLS # 6745144

Property Type Single Family Residence

Price Type --

Do not miss this almost brand new home built in the gated and resort style community of Reserve at Red Rock. Pull up to this beautiful home with a very welcoming elevation and style. This prime location is close to top rated schools, including the new ALA campus, 202 on-ramp, shopping, dining and golf courses in the area. Low maintenance landscaping, covered porch and wider paver driveway welcome you to your new home. Enter the upgraded iron door to beautiful flooring, fresh and bright colors and upgrades everywhere you look. Fantastic en-suite bedroom right off the front door is perfect for a guest room or generational living with its own bathroom and walk-in closet. Pass through to the well appointed kitchen with upgraded white shaker dovetail cabinets with soft-close cabinets with stainless steal appliances, extensive stone backsplash, unique matte granite counters and opens up to the dining and living rooms as well as the 4 panel slider heading out to the backyard. You'll feel the plush carpet as you head upstairs to view the remaining living space. The master en-suite offers a large bathroom and walk-in closet with custom designer tile and nicer finishes. 3 car tandem garage offers an EV outlet. Spend time to check out the multi-million dollar private clubhouse with a heated pool, spa, workout room, playgrounds, sport courts, trails, pickle ball courts and so much more.

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