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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719 W Hemlock Way Chandler, AZ 85248

$797,500

5 Beds

3 Baths

2,932 SqFt

Status Active

MLS # 6737805

Property Type Single Family Residence

Price Type --

WITH NEW CARPET NOW 9/19/2024! One of the few if only Tri-Level home with 5 Bedrooms 3 Baths with Salt water Pool and 3 Car garage on the GREENBELT in the area! 2 DECKS TO ENJOY THE VIEWS/SUNSETS! This home has an updated kitchen and also Baths! Floorplan is awesome! 2 Bedrooms down with a bath. Huge Family room in Open Floorplan off Kitchen 3 Bedrooms on 2nd level including Primary Bedroom with large walk in closet. All Bedrooms have great closet space. Plus extra storage throughout. Updated AC units/ All plumbing was just replace with PEX with 25year transferable warranty. The backyard is inviting with a great feeling of openness with backing to the Green belt yet surprisingly private

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10709 E Thornton Avenue Mesa, AZ 85212

$797,000

4 Beds

4 Baths

2,726 SqFt

Status Active

MLS # 6747229

Property Type Single Family Residence

Price Type --

Discover this spacious and modern Adelaide model home, only 3 years old, offering 4 bedrooms, 4 bathrooms, and a versatile game room/study. Designed with luxury and functionality in mind, this home features high-end finishes, a full live-in casita, and a professionally landscaped backyard. Step into this beautifully designed home where luxury meets comfort. The open-concept living space features durable LVP flooring, and the entry walls are accented with elegant wainscoting. The heart of the home is the gourmet kitchen, which boasts high-end Quartz countertops, a breathtaking waterfall island, a 5-burner gas range, and double-stacked ovens. The adjacent walk-in pantry provides ample storage for all your culinary needs. Don't miss this rare opportunity to own a nearly new, luxury home. Open Concept Living: Luxury vinyl plank (LVP) flooring throughout the main living spaces, with elegant wainscoting on the entry walls. Gourmet Kitchen: High-end Quartz countertops, a stunning Quartz waterfall island, 5-burner gas range, double-stacked ovens, and a spacious walk-in pantry. Full Live-In Casita: Perfect for guests or multi-generational living, with its own private entry and amenities. Expansive Outdoor Living: Huge multi-slider with a corner less slider opens to a professionally landscaped backyard, ideal for entertaining and relaxation. Practical Features: Paved driveway and ample storage throughout the home. Located in a desirable community, this home provides easy access to top-rated schools, shopping centers, and local parks. Enjoy the best of both worlds with a tranquil neighborhood and convenient proximity to major roads.

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1784 Merzville Road Forest Lakes, AZ 85931

$797,000

3 Beds

2 Baths

2,072 SqFt

Status Active Under Contract

MLS # 6722741

Property Type Single Family Residence

Price Type --

Bearfoot Hideaway is a stunning, well-maintained cabin for sale in Forest Lakes, Arizona, nestled in the tall pines of this coveted getaway community .The cabin has 3 Bedrooms plus a large separate bonus room that could be a 4th guest bedroom, studio, bunkhouse or game room. The interior features a spacious great room layout, perfect for gatherings, a large kitchen with ample cabinets and a big breakfast bar, and a dining space roomy enough for a large table. The living area includes a wood burning stove, numerous windows offering forest views and natural light, with beautiful Anderson windows installed in 2021. In-floor radiant heat, powered by an LP gas tankless water heater, ensures optimal comfort throughout. Outside, the property boasts a wrap-around covered deck ideal for outdoor... ... living, offering cool breezes, the aroma of tall pines, and a stress-relieving environment. A large firepit with log seats is where s'mores and tall tales are sure to be shared with family and friends. There is an extra covered patio area with a fenced pet run, perfect for an outdoor kitchen area and a safe space for pets. A large 2 car garage has lots of built in cabinets with plenty of space for your mountain toys and tool storage. Ingenious rain gutters are hinged to pivot under the eaves in winter to prevent snow damage, and a whole house generator, installed in 2023, ensures uninterrupted power supply. A separate shop building has plenty of space for a workshop or a future guesthouse. There is a carport on the side of the building, a great place to park your fishing boat under cover. The cabin comes furnished! Just bring your groceries-most furnishings will be included. The cabin is just steps from your backyard to the Sitgreaves National Forest. Forest Lakes is uniquely set as an island in the middle of the forest, home to the world's largest stand of Ponderosa Pine Trees. The area offers a four-season climate with the best summertime weather, just a two-hour scenic drive from Phoenix, providing a significant temperature drop of 30-50 degrees. Renowned for its idyllic setting and climate, Forest Lakes is a mountain paradise and the most coveted cabin getaway location within two hours of Phoenix, making it an ideal escape from the harsh summer weather. This property offers a rare opportunity to enjoy the Forest Lakes lifestyle. Don't miss out on the chance to make Bearfoot Hideaway your dream cabin retreat. Plan to see it today!

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829 W Golden Ore Pass Apache Junction, AZ 85120

$796,862

4 Beds

3 Baths

3,124 SqFt

Status Active

MLS # 6777721

Property Type Single Family Residence

Price Type --

Charming LEED certified home featuring 4 bedrooms, an office, game room, a 3-car garage, and designer upgrades throughout. The executive kitchen features GE appliances, a 36'' gas cooktop, an kitchen island, upgraded Benton Birch Quill cabinets, and Della Terra quartz countertops. Plank tile flooring can be found throughout as well as upgraded carpet at the bedrooms. Other special features include a 12' multi-slide glass door at the Great Room, a laundry room with a sink and cabinets, an iron front door, and pavers at the front porch and courtyard. The primary bathroom boasts a frameless walk-in shower with custom tile surrounds and quartz vanities. The community of Blossom Rock includes a clubhouse, a community pool, a playground, and walking and biking paths!

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41644 N 277th Avenue Morristown, AZ 85342

$795,000

3 Beds

2 Baths

2,700 SqFt

Status Active

MLS # 6780692

Property Type Single Family Residence

Price Type --

Newly remodeled 3-bed, 2-bath home on 10 picturesque acres with 360° mountain and Hassayampa River views! This 2,700+/- sq ft residence features a new kitchen with quartz countertops, new modern bathrooms, new flooring, appliances, fresh paint, and a new roof. The guest bath offers a soaking tub by the fireplace, while the primary suite exudes charm with wainscoting on the walls and a custom walk in shower. Ideal for horse enthusiasts, the land includes an existing corral and a huge level area for a future arena. The land is surveyed for a 5-parcel split. There is a storage shed with bathroom and a covered carport. Located 25 minutes from Loop 303 & Surprise, and 15 minutes from Wickenburg. Country living at its best with easy quick access to the city. Can sell with smaller acrereage.

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1953 Sand Spring Trail Flagstaff, AZ 86005

$795,000

3 Beds

2.5 Baths

2,209 SqFt

Status Active Under Contract

MLS # 6773135

Property Type Single Family Residence

Price Type --

** NEW CONSTRUCTION. Nestled within the world's largest stand of Ponderosa Pines, The Highlands at Tovar Springs offers the perfect harmony of natural beauty and modern living. Situated in Flagstaff's stunning landscapes, this new community provides the tranquility of mountain living with the convenience of a vibrant, thriving town. The Juniper floorplan, a two-story home featuring 3 bedrooms and 2.5 baths, with an option for a fourth bedroom, is thoughtfully designed for comfort and flexibility. Located on Homesite #42, this is a unique opportunity to secure a home at introductory pricing. Scheduled for delivery in Winter 2025, this home is crafted for year-round enjoyment, ideal as a seasonal getaway or a primary residence. The Highlands at Tovar Springs boasts easy access to miles of scenic trails and a nearby wildlife-rich natural wetland. Adventure is just outside your door, with hiking, biking, and wildlife viewing set against the stunning backdrop of the San Francisco Peaks. Only minutes from downtown Flagstaff, renowned for its culinary scene with two James Beard finalists, you'll also enjoy a rich cultural experience. Seamlessly connect to the Flagstaff Urban Trail Systema 75-mile network that winds through forests, canyons, and open spaces, linking parks, schools, and neighborhoods. Flagstaff is not only a gateway to outdoor adventure but a high-altitude training hub, attracting elite athletes and Olympians from across the globe.

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2201 Asi Va Spring Trail Flagstaff, AZ 86005

$795,000

3 Beds

2.5 Baths

2,209 SqFt

Status Active Under Contract

MLS # 6778189

Property Type Single Family Residence

Price Type --

** NEW CONSTRUCTION. Nestled within the world's largest stand of Ponderosa Pines, The Highlands at Tovar Springs offers the perfect harmony of natural beauty and modern living. Situated in Flagstaff's stunning landscapes, this new community provides the tranquility of mountain living with the convenience of a vibrant, thriving town. The Juniper floorplan, a two-story home featuring 3 bedrooms and 2.5 baths, with an option for a fourth bedroom, is thoughtfully designed for comfort and flexibility. Located on Homesite #48, this is a unique opportunity to secure a home at introductory pricing. Scheduled for delivery in Winter 2025, this home is crafted for year-round enjoyment, ideal as a seasonal getaway or a primary residence.

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510 Osprey Trail Prescott, AZ 86301

$795,000

3 Beds

3 Baths

2,634 SqFt

Status Active

MLS # 6563341

Property Type Townhouse

Price Type --

'Top of the World'' views from this high-end townhome with NEWLY DESIGNED floor plan! Main level living with Great room, corner fireplace with view windows above, large trex deck with 3 piece sliding patio door for more views, views, views! Enjoy your kitchen with pantry with tile floors, wood cabinetry, granite tops and stainless appliances. Love the master suite with walk-in closet, double vanity, garden tub and separate shower. Level driveway and two car garage. Below, you will find the rec room/office/family room and guest quarters. Peregrine Townhomes... your Point of View!!! The photos associated with the listing are from a similar model. Finishes and upgrades may vary.

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2405 E Fairmount Avenue Phoenix, AZ 85016

$795,000

2 Beds

1 Bath

1,374 SqFt

Status Active

MLS # 6700790

Property Type Single Family Residence

Price Type --

Located in the Biltmore Corridor, 2405 E Farimount Ave offers an exceptional opportunity to acquire a home ready to be converted to commercial property, on the busy 24th Street. The subject property is located right off 24th Street and Indian School, under a mile from the SR-51, allowing for quick access to Midtown, Downtown, and Tempe. This home can be converted to office or medical office space. The 3,600 SF building next door at 4001 E Fairmount Ave is also available!

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3401 E Paradise Lane Phoenix, AZ 85032

$795,000

3 Beds

2 Baths

1,889 SqFt

Status Active

MLS # 6745441

Property Type Single Family Residence

Price Type --

Check out this rare desert gem! Located on a corner lot big enough for a pool and mini-golf course, this 3-bed, 2-bath ''farmhouse'' style property was home-sweet-home to one of the neighborhood's developers. Well-designed common areas offer ample space for maximum comfort and include an open kitchen, large laundry room / pantry, dining area, living room with generous built-in storage and wall-to-wall window seating, bonus room (currently used as a music studio), and an office / den than can be converted back into a 4th bedroom (has a closet). Laminate and tile floors throughout, granite and quartz countertops in kitchen and master bath. Roof and AC less than 5 years old, 2-car garage with workspace, detached barn, RV gate, rear carport, front and rear patios, and best of all: no HOA Ideal location with quick, easy access to 51 and 101 freeways, on the same block and street as the famed Boojum Tree venue, walking distance to Paradise Valley High School, Paradise Valley Community College, Fry's, and shopping, 5-minutes to Desert Ridge.

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5321 W Linda Lane Chandler, AZ 85226

$795,000

4 Beds

2.5 Baths

2,970 SqFt

Status Active

MLS # 6762755

Property Type Single Family Residence

Price Type --

Welcome to this charming family home nestled in the heart of Chandler, offering a perfect blend of comfort and style. This spacious residence features a fantastic family-friendly floorplan with vaulted ceilings that create an airy, open atmosphere. The large remodeled kitchen boasts modern finishes and appliances, perfect for family meals and entertaining. The primary bathroom has also been updated with sleek, contemporary touches, providing a luxurious retreat. With new flooring throughout and ample living space, this home is move-in ready! Additional features include a 3-car garage with ample storage. Located in a desirable neighborhood, close to schools, parks, and shopping, this home is ideal for creating lasting family memories.

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7710 E Gainey Ranch Road Unit 148 Scottsdale, AZ 85258

$795,000

2 Beds

2.5 Baths

1,200 SqFt

Status Active

MLS # 6751561

Property Type Townhouse

Price Type --

Experience the exclusive Gainey Ranch lifestyle in this fully renovated town home. The open & stylish redesigned kitchen features direct garage entry, soft close white shaker cabinets, polished chrome hardware, ample storage drawers & high end appliances including a built-in oven/air fryer/microwave & a glass cook top. This home offers two master bedrooms w/ en-suite baths & walk-in closets, a spacious flex room + a convenient powder room for guests. Enjoy the elegance of LVP light oak flooring throughout complimented by smart three panel glass doors. The new Lennox A/C unit, new Rheem water heater & Anderson patio doors & picture windows ensure both comfort & efficiency. The home's sought after location is a short walk to the Estate Club amenities. This is a must see, turn key gem! The recently built six million dollar Estate Club offers Pickleball and Tennis, a state-of-the-art fitness center, heated 25 meter lap pool and spa, party rooms and a social calendar for year round fun. With 24 hour security, you can lock-and-leave or enjoy the Gainey Ranch lifestyle with total peace of mind year round.

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