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.

What’s Your Home Worth?

Search for Your New Home

19021 W Lawrence Road Waddell, AZ 85355

$824,990
4 Beds
3.5 Baths
3,197 SqFt
Status Active
MLS # 6726645
Property Type Single Family Residence
Price Type --
An 11' ceiling at the Family Room and 16' Multi Sliding Glass Door, making this home perfect for the indoor/outdoor living that is so desired in Arizona. You can enjoy the bright and cozy feel of the Sunroom located off the Dining Room or venture out onto the large Extended Patio to enjoy the outdoors. Located on a Corner homesite, this special plan has many highly desirable upgrades, such as the Extended Family Foyer with Backpack Rack and upper cabinets which helps to keep belongings organized, Manhattan Drywall Finish with Square Drywall Corners and mitered Base Boards, Super Shower in Owner's Suite, Gourmet Kitchen with Gas Cooktop, upgraded cabinets and countertops, along with a custom backsplash and walk in pantry. Too many additional upgrades to list, make this home a Must See!

1952 W Bramble Berry Lane Phoenix, AZ 85085

$824,990
5 Beds
4.5 Baths
3,018 SqFt
Status Active
MLS # 6731409
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, and/or price adjustments. Explore the Prato two-story floorplan, ready by Sept/Oct, featuring an owner's suite and an additional suite on the first floor. The chef's kitchen includes a gas cooktop, hood, and quartz countertops, with upgraded tile and carpet throughout. A center slider in the gathering room enhances indoor-outdoor living. An added bathroom upstairs creates another suite. The home also includes a full electrical package, a landscaped front yard, and stylish interiors.

5549 S Del Rancho -- Mesa, AZ 85212

$824,900
4 Beds
2.5 Baths
3,167 SqFt
Status Active
MLS # 6755822
Property Type Single Family Residence
Price Type --
Located in the premier gated community of Estates at Eastmark. This stunning single-level home offers a spacious layout w/3 bedrms, 2 versatile flex spaces + a den, perfect for a home office. The bright gourmet kitchen opens nicely to the living & dining areas, creating the ideal space for gatherings. The butler's pantry offers extended counter space and cabinet storage. The owner's suite is complete with a large walk-in closet & en-suite bathroom featuring dual vanities, separate tub & a walk-in shower. Step outside to your private, low-maintenance backyard oasis. Enjoy the extended patio, turf, & stylish pergola. The 3-car garage offers ample storage & parking space. Enjoy the Eastmark community with top-notch amenities including parks, pools, gym & highly-rated schools Residents of the Estates at Eastmark have access to their own community center with community pool and spa. It's also gated offering even more privacy. This particular home is adjacent to a large common area with easy access to walking paths throughout the community. Other features of this home include: Wood grain tile plank floors throughout main living areas with carpet in the bedrooms. Owned water softener, window coverings throughout, upgraded lighting fixtures and fans, stainless appliances including a 5 burner gas cooktop. Home offers 2 flex spaces (front parlor and additional play room or teen space) plus a den plus a dining room. Need 2 home offices plus a kids area? Done! Or use one space as a library or music room! Endless opportunities! Eastmark has easy access to Loop 202, Mesa Gateway, shopping, schools, restaurants, you name it!

15832 E Brittlebush Lane Fountain Hills, AZ 85268

$824,900
2 Beds
2 Baths
2,203 SqFt
Status Active
MLS # 6768184
Property Type Single Family Residence
Price Type --
Stunning home on a golf course lot in prestigious SunRidge Canyon! This 2,203 sq ft home offers 2 bedrooms, den, 2 baths and heated SPOOL. Custom glass door entry door welcomes you to the spacious living area with gas fireplace. Huge chef's kitchen features Thermador SS luxury appliance package, refinished cabinetry, tile backsplash & R/O system. Step outside to a large covered patio, built-in BBQ grill, gas fire pit and sparkling SPOOL (small pool/spa) with a beautiful water feature. A true entertainer's delight offers great mountain and golf course VIEWS! You'll love the natural light, soaring ceilings, plantation shutters & wood-look plank tile flooring throughout. Double doors lead to a huge master suite. Updated master bath has walk-in shower w/custom glass door, soaking tub, double ramp sinks & Toto toilet. Guest bath is also updated with tile shower, ramp sink & Toto toilet. Den makes for a great office w/custom built-in desk and cabinets. Laundry room offers lots of cabinets for storage. Don't miss out on this home, it won't last long!

1841 W Honeysuckle Lane Chandler, AZ 85248

$824,900
4 Beds
2 Baths
2,592 SqFt
Status Active
MLS # 6776876
Property Type Single Family Residence
Price Type --
Welcome to this charming single-story home, perfectly situated on a spacious corner lot! This inviting property features four bedrooms and two bathrooms, offering both comfort and convenience. Step inside to find beautiful wood flooring that flows seamlessly through the main living areas, complemented by stylish tile in key spaces for an elegant touch. The open layout is perfect for entertaining, with a spacious living room and a modern kitchen ready for gatherings. Outside, enjoy your own private oasis—a sparkling pool awaits in the backyard, ideal for relaxation or weekend fun. With a prime location of chandler Just Reduced 25k

2505 Dillon Boulevard Chino Valley, AZ 86323

$824,575
4 Beds
3.5 Baths
2,844 SqFt
Status Active
MLS # 6779267
Property Type Single Family Residence
Price Type --
Situated on a 1-acre homesite with an East facing backyard this home provides 4-bedroom 3-1/2 bath, formal dining, breakfast area and roomy family room. Enjoy travel? We have an RV space just for you along with plenty of open space to build your own oasis. This property has a bedroom with its own bathroom and walk-in closet is perfect for overnight guests. Heritage Pointe offers 7 distinct floorplans, modern amenities, open-concept layouts with designer finishes. You won't want to miss out; plan a visit with us today.

1010 Quicksilver Drive Prescott, AZ 86303

$824,500
3 Beds
2 Baths
2,189 SqFt
Status Active
MLS # 6705949
Property Type Single Family Residence
Price Type --
Fantastic home in Copper Canyon Village just minutes from downtown Prescott. This lovely home offers a large living room with gas fireplace, a completely remodeled kitchen with a breakfast niche and formal dining room. the kitchen is equipped with stainless Thermador appliances (gas range/oven & vent hood, microwave, dishwasher & built-in fridge), large corner pantry, custom cherry cabinetry, tile backsplash and granite counter tops. Owners suite situated in its own hall, with dual closets, a garden tub, shower, & separate vanities. Large owners room has access to back patio. Home offers two additional bedrooms AND an office with built-in shelving & a balcony with views. Enjoy the views from the front patio or the private natural settings on the pack patio. Xtra deep 2 car garage/workshop

8059 E Wilshire Drive Scottsdale, AZ 85257

$824,500
3 Beds
3 Baths
1,981 SqFt
Status Active Under Contract
MLS # 6741064
Property Type Single Family Residence
Price Type --
Nestled among $1M homes and minutes from Old Towne, Fashion Square, ASU and Sky Harbor! Now priced below Neighborhood comps! As you step into the home the Mid-Century Modern styling and pride of ownership shines through. The perfect home for hosting with a fully updated kitchen including a gas range and convection oven and a secondary electric oven and additional full sized refrigerator. 3 bedrooms and a fully equipped office give you flexibility to work from home. 2 of the 3 bedrooms come with en suite bathrooms, one of which has its own courtyard! Resort style living in the backyard! Enjoy the pebbletec pool, jacuzzi under gazebo, artificial grass and travertine pavers. Plenty of privacy and large covered patio will allow you to enjoy the backyard all year round. Hot water heater, pool pump and dishwasher 2 years or newer. Also featuring quartz countertop and SS appliances. There is a Reverse Osmosis system for drinking water and the ice maker. Situated on a cul-de-sac results in little traffic and a quiet street. This brick built home is energy efficient and the average electric bill in 2023 was $180/month.

11115 E Sunnydale Court Sun Lakes, AZ 85248

$824,000
2 Beds
2.5 Baths
2,660 SqFt
Status Active
MLS # 6728076
Property Type Single Family Residence
Price Type --
Beautiful Remodeled Home on Walking Path in Gated Community. 2 Bedroom Suites plus separate Den or 3rd Bedroom, 1/2 Ba off Hallway. Formal Living Room w/ Fireplace, Plantation Sutters, Crown Molding, Formal Dining Room. Large Open Kitchen and Family Room, hand picked Granite Countertops throughout, Island w/Microwave Drawer, Lg Pantry w/all pull out shelves, Vaulted Ceilings throughout, Tile Plank Flooring throughout, Bonus Room or Storage. Play Pool w/several jets. Large Back Yard, all Grass, Front Yard w/Artificial Grass, Pavers all around, Full Tile Roof with Solar Panels (Seller Owned), 2.5 Car Garage, to much to mention here, Come See this Gorgeous Home at end of Clu de Sac.

955 Rainbow View Drive Lakeside, AZ 85929

$824,000
3 Beds
2 Baths
2,384 SqFt
Status Active
MLS # 6750237
Property Type Single Family Residence
Price Type --
Envision a charming furnished home that exudes warmth and comfort from the moment you approach its beautifully landscaped driveway, in the prestigeous gated community of The Shores by Rainbow Lake. Just blocks from the lake. The covered porch welcomes you into an inviting entryway, leading to a home with flowing hardwood floors and an open great room that's perfect for gatherings. The heart of the home features a cozy fireplace with updated stonework, creating a serene ambiance. The entertainer's dining space is complemented by an island with elegant stone counters, offering ample counter space and a stainless gas range, all illuminated by stylish pendant lights... READ MORE... The large primary suite is a retreat within itself, boasting his and her closets, a private office space, and a beautifully updated ensuite with dual vanity and a dedicated makeup area, all encased by chic glass front storage. The walk-in glass shower and inviting soaker tub to add a touch of luxury. Two additional guest rooms offer comfort and style, with a gorgeous guest bath featuring a double vanity, shiplap feature wall, enchanting mirrors, and a glass door soaker tub/shower combination. A bonus living space opens up to a large back deck and a landscaped yard that's perfect for outdoor enjoyment. Completing this idyllic home is a 3-car garage with plenty of built-in storage, ensuring that every need is met with elegance and ease. This cabin is not just a house, but a sanctuary designed for those who appreciate the finer details and a touch of rustic charm. This cabin / home is in the prestigeous GATED community of The Shores. This community has it's own private launch to Rainbow Lake, tennis courts, pickleball courts, basketball and a gazebo gathering area. Beautifully landscaped community with high end custom homes throughout. The garage is an extended 3 car garage with an extended large storage area. This home has ample storage throughout! This home is set back on the lot with tons of privacy both front and back! This home has TRUE pride of ownership!!! This is a small list of items that do NOT convey to be provided. Please note that 'nothing' in the garage conveys. Imagine living in the White Mountains of Arizona where you have 4 beautiful seasons and where you can breathe in the fresh mountain air and enjoy the 40 lakes and over 600 miles of rivers and streams. In addition to the amazing fishing, this area has one of the most extensive trail systems in the southwest for hiking, biking, horseback riding, quadding and more. Sunrise Ski Resort is also just 40 minutes away with 3 beautiful mountains to ski, snow board or sled. If shopping is your interest, you will love the antique stores and the multitude of arts and craft shows that happen in the summer. The music festivals have something to fit everyone's enjoyment. Do you love to golf? There are 7 amazing golf courses, 3 that are public. The White Mountains, where this home/cabin is the best kept secret of Arizona! Come and explore and enhance your living! Pinetop-Lakeside was also voted 'Best Cabin Region in the U.S... Embrace the MAGIC!

521 N Redondo Drive Litchfield Park, AZ 85340

$823,900
5 Beds
3 Baths
2,662 SqFt
Status Active
MLS # 6777451
Property Type Single Family Residence
Price Type --
Discover your oasis in the heart of Old Litchfield Park! This stunning 5-bedroom, 3-bath home features two spacious living areas and is perfect for family living. Enjoy energy efficiency with owned solar (full offset), a new roof, new AC, and updated sewer plumbing. Inside, you'll find modern flooring throughout, while the fully landscaped backyard boasts a diving pool, hot tub, turf, and a cozy gas fire pit for evenings under the stars. With a covered patio and a desirable North/South facing lot, this home offers endless outdoor enjoyment. Just a short walk to the Wigwam Resort, elementary school, golf course, and restaurants. This is the ideal blend of comfort and convenience. Don't miss this opportunity!

20454 E Via Del Jardin -- Queen Creek, AZ 85142

$823,357
4 Beds
3 Baths
3,077 SqFt
Status Active
MLS # 6734837
Property Type Single Family Residence
Price Type --
MLS#6734837 February 2025 Completion! The Breckenridge is a single-story floor plan featuring 3,077 sq. ft. of living space, including 4 bedrooms, 3 bathrooms, a 3-car tandem garage, a dining room, and a study. The welcoming porch opens into the foyer, flanked by a dining room on one side and bedroom 4 and the study on the other. Straight ahead, you'll find a spacious kitchen, casual dining area, and gathering room. This open-concept design allows you to cook while enjoying time with loved ones or watching your favorite show. Adjacent to the kitchen are bedrooms 2 and 3, along with a full bathroom for easy access. The primary suite features a bathroom with a split tub and shower, plus ample closet space. Your dream home awaits! Structural options include: gourmet kitchen with double over, shower in lieu of tub/shower at bath 3, garage service door. Design upgrades include: upgraded size and painted kitchen cabinets, whole house quartz countertops, upgraded carpet and tile flooring, double ovens, upgraded interior paint, e-granite single bowl kitchen sink, gas line for future outdoor kitchen, extra blown insulation in all interior walls (whole house).

Leave a Reply

Your email address will not be published.