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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3821 E Monterosa Street Phoenix, AZ 85018

Open House

$780,000

3 Beds

2 Baths

1,514 SqFt

Status Active

MLS # 6747071

Property Type Single Family Residence

Price Type --

HUGE PRICE REDUCTION !!! $ 70,000 !!! A 3 bedroom 2 bath block construction home with a resurfaced pool, huge grass backyard with entertainment covered ramada with electric & storage shed. The original carport has been converted to a large bonus room and currently being used as a 4th bedroom. The Central air & heating system are ducted into this room and buyer to verify square footage ... This area is prime for investors who have been building new homes !

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29714 N 23rd Lane Phoenix, AZ 85085

Open House

$780,000

4 Beds

3.5 Baths

2,854 SqFt

Status Active

MLS # 6749185

Property Type Single Family Residence

Price Type --

Experience the epitome of modern living in this bright and open two-story masterpiece, showcasing stunning designer features throughout. The spacious 3-car tandem garage complements the functional layout, which includes a private study and an inviting loft. The gourmet kitchen is a chef's dream, featuring Silestone countertops, recessed panel maple cabinets painted in Linen, and top-of-the-line stainless steel KitchenAid appliances. The 42'' ultra-modern gas fireplace in the Great Room adds a touch of elegance, while the expansive multi-slider glass door seamlessly connects the indoors to the extended covered patio, perfect for entertaining. On the main level, you'll find a stylish executive office, perfect for working from home, along with a conveniently located powder room for guests. Upgraded flooring, including 12''x24'' wood-look tile and plush carpeting, elevates the home's luxurious feel, while 8' doors and two-tone paint create an airy, sophisticated ambiance. The master suite offers a serene retreat with a frosted glass barn door leading to a spa-like bath, complete with executive height vanities and Silestone countertops. This Energy Star-certified home is designed for comfort, energy efficiency, and environmental sustainability, boasting OWNED SOLAR and additional electrical upgrades for modern convenience. Outside, the Sierra Blend pavers and Belgard Hardscapes add curb appeal, while the recessed lighting on the extended patio sets the perfect mood for outdoor gatherings. Don't miss the chance to own this impeccably designed, move-in-ready home that blends style, functionality, and sustainability in every detail!

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22701 E Lords Way Queen Creek, AZ 85142

$779,990

6 Beds

5.5 Baths

4,142 SqFt

Status Active

MLS # 6744478

Property Type Single Family Residence

Price Type --

Welcome to Ashton Wood's highly sought-after Diamond floor plan, showcased in the chic Farmhouse exterior. This spacious 4,127 sq-ft home features 6 generously sized bedrooms, 5 1/2 bathrooms, and a 3-car tandem garage. On the main floor, you'll find a sunlit office, a convenient powder room, and a guest bedroom with a full bath, perfect for multi-generational living or guests. The gourmet kitchen showcases built-in stainless steel appliances, 42'' white shaker cabinets, elegant Crisp Stria Quartz countertops, and a stylish tiled backsplash. Warmth and charm are added by tile wood-plank flooring in the main living areas and bathrooms, complemented by upgraded carpet in the bedrooms and loft. This home seamlessly blends contemporary and cozy design elements, including the Moen Gibson Premium Bathroom package, designer floor tile in the primary bathroom, Meridian vanity lights, and a white wood stair railing. Additional features include a double gate, garage service door, soft-water pre-plumb, 8' interior doors, and extra ceiling lights in the great room. Conveniently located near shopping, dining, and the new Frontier Park, Madera offers residents access to a pool, spa, pickleball courts, and picnic areas.

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22466 E San Tan Boulevard Queen Creek, AZ 85142

New

$779,990

4 Beds

3 Baths

3,241 SqFt

Status Active

MLS # 6784663

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. The Enchantment Series is situated in a private gated enclave within the sought-after Harvest community, offering a prime location near swimming pools, a catch-and-release lake, and a scenic green park. Enjoy peaceful living just moments from shopping and entertainment. Designed for both relaxation and hosting, this home features a stunning waterfall island, a chef's kitchen, and an open floor plan ideal for entertaining. A private courtyard entry adds a warm and inviting touch, welcoming you home.

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3785 W Silverdale Road Queen Creek, AZ 85144

$779,900

4 Beds

3 Baths

2,837 SqFt

Status Active

MLS # 6581821

Property Type Single Family Residence

Price Type --

About to break ground soon, single level 4 bedroom (or can be 3 + den), 3 bath, 4-car garage, stainless, granite throughout, covered patio, front courtyard, tile roof.... Buyer to select flooring, paint, granite, cabinets, etc. Estimated completion 9-10 months from ground-breaking. Drive by only at this time. Photos are of a completed version of this home.

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4422 N 75th Street Unit 6013 Scottsdale, AZ 85251

$779,900

1 Bed

1.5 Baths

1,114 SqFt

Status Active

MLS # 6751249

Property Type Apartment

Price Type --

ABSOLUTELY GORGEOUS 6th floor 1 bedroom plus Den with built in custom murphy bed to use as second bedroom 1.5 bath unit with A+ NE MOUNTAIN VIEWS. BEST AND LARGEST MASTER BEDROOM IN BUILDING, ALL GLASS WITH SEPARATE EXIT TO BALCONY, motorized shades throughout, top end washer dryer included. Relax in style in Old Towns most modern highrise. Unit has beautiful wood floors throughout, Poggenpohl European style cabinets with Island, quartz countertops, Bosch appliances and much more. The amenities at Envy are 2nd to none boasting a 4000 sq ft fitness facility with all top of the line equipment, a pool/pool lounge area that rivals any Vegas Resort and the exclusive Black Label Lounge to top it off along with 24/7 concierge/security with underground secured parking. Live the high life

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14708 W Carbine Court Sun City West, AZ 85375

$779,900

3 Beds

2.5 Baths

2,642 SqFt

Status Active

MLS # 6770515

Property Type Single Family Residence

Price Type --

Luxury Semi-Custom Home located in the Fitzpatrick Ranch area of Sun City West. Enjoy your new Arizona lifestyle in a spacious 3 bd w/den, 2.5 bth home with custom features throughout. Gourmet kitchen w/island, granite counters, electric cooktop, stainless appliances, breakfast bar & lg. dining area. Great room w/gas fireplace. Primary suite w/access to back patio. en suite bath w/jetted tub, walk-in shower & closet, double sinks. Guest bedrooms w/jack & jill bath, access to backyard. Lots of storage! Private backyard sanctuary w/covered patios and lush landscaping. Extended 2 car garage w/craft room & second 1 car garage. AC Replaced in 2022 & 2023 (2 units), HW Heater 2020, Exterior Paint 2019, Owned Solar. Furnishings Available Outside of Escrow. Plus Sun City West Amenities

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9472 W Jj Ranch Road Peoria, AZ 85383

$779,900

4 Beds

4 Baths

2,844 SqFt

Status Active

MLS # 6771336

Property Type Single Family Residence

Price Type --

Gorgeous 4 bedroom, 4 bath home on oversize lot. Chef's kitchen with large island, cooktop gas stove, wall oven, extensive granite countertops and walk-in pantry. Split floorplan with primary bedroom in back of home and secondary bedrooms off front hallway. Attached casita with separate entrance. Primary bathroom features dual sinks, tiled walk-in shower with full glass and gigantic walk-in closet. Highly upgraded with wood-like tile in all the main areas and carpet in bedrooms, 5 inch baseboards, lighting and fixtures, and plantation shutters throughout. 3 car tandem garage. Large backyard with covered patio ready for your touch. Envision a large gazebo with seating area, pool and tree-lined fencing. RV gate for toys. North/south facing.

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6738 E Las Animas Trail Gold Canyon, AZ 85118

$779,900

4 Beds

3 Baths

2,512 SqFt

Status Active

MLS # 6776070

Property Type Single Family Residence

Price Type --

Completely REMODELED STUNNING HOME IN SUPERSTITION FOOTHILLS W/ AMAZING MOUNTAIN VIEWS! NEW freshly PAINTED EXTERIOR&INTERIOR, ALL NEW FLOORING THROUGHTOUT W/ 4'' BASEBOARDS, Both Living Room and Family Room Look Like a MODEL HOME W/Ensuite Downstairs. BEAUTIFUL Primary Suite INCLUDES Sitting Room & Incredible Mountain Views! Gourmet Kitchen Light and Bright, NEW ROOF, NEW SOLAR SYSTEM (Paid for). BACKYARD is a RESORT W/ NEW HEATED 14'x30' POOL, NEW Putting GREEN, & NEW HOT TUB (above ground w/conveys), NEW LANDSCAPING and DRIP System! TWO Covered Patios to Enjoy the New Pool and VIEWS. 3 CAR Garage w/ New Garage Door/Opener with New Garage CABINETS, and MUCH MUCH MORE! SEE LIST OF UPGRADES! You Must See This Home it is Absolutely MOVE-IN READY. Nothing To Do... Just Relax and Enjoy!

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1688 E Lexington Avenue Gilbert, AZ 85234

$779,900

4 Beds

3.5 Baths

3,541 SqFt

Status Active

MLS # 6756015

Property Type Single Family Residence

Price Type --

Nestled in the desired 85234 zip code, this home offers unbeatable access to nearby entertainment and dining, with the convenience of your own private retreat. Whether you're enjoying a night out or staying in to host, you'll love the custom theater room and chic beverage bar, perfect for entertaining. The spacious main-level master suite provides a private area, while upstairs accommodations offer guests their own space. Every detail has been thoughtfully upgraded, from wood-look tile floors and fresh paint to the stylishly remodeled kitchen and bathrooms. Outside, the meticulously maintained backyard features an extended patio, ideal for outdoor relaxation. With soaring vaulted ceilings and a versatile loft, this open and airy home is designed for comfortable living with room to grow.

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1141 N Wide Open Trail Prescott Valley, AZ 86314

$779,900

3 Beds

3.5 Baths

2,863 SqFt

Status Active

MLS # 6764799

Property Type Single Family Residence

Price Type --

Tremendous views, quaint courtyard & private location in Stoneridge golf course community. Spacious living room showcases long-distance views for guests and family. Double doors lead to office/den w/ courtyard views. Kitchen features granite countertops, custom cabinetry, gas cooktop, island, breakfast bar, pantry and dining with great views. Guest suite with private entrance from courtyard leads to spacious family/game/media room. Split floor plan, 10 foot ceilings throughout, oversized laundry room with abundance of cabinets, counter space and sink. Primary suite w views, dual vanities, vast shower and spacious closet. The home needs new flooring, interior paint & appliances. Priced to sell. Enjoy quiet times under the covered back patio/trellis and fantastic views. Remarks cont'd... Mature low-maintenance landscaping. Community features include a community center w/ fitness room, pool/spa, billiards room, pickleball, tennis & bocci courts! Welcome home!!

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22112 N 79th Avenue Peoria, AZ 85383

$779,900

4 Beds

2.5 Baths

2,946 SqFt

Status Active

MLS # 6765950

Property Type Single Family Residence

Price Type --

This is one special!!! From the moment you walk up to the beautiful custom iron and glass front door you can't help but be impressed! This highly sought after single story in Fletcher Heights is where you will want to come home to. Tall ceilings and an open concept just feels spacious and open. Separate office off the front door continues that spacious, open feeling. As you enter into the kitchen and family room you will be impressed with the highly upgraded granite, stainless steel appliances and large kitchen island. The fireplace in the family room makes a cozy space to hang out and the charm of the French doors that overlook a large covered patio and oversized, fully landscaped backyard make you want to stay awhile. Down the hall you will find a powder room, a full bathroom and three additional bedrooms. On the opposite side of the house the primary suite is very spacious! It boasts bay windows, a private entrance to the backyard, en suite bathroom with separate tub and shower, and walk in closet. The separate laundry room leads into the 4 car extended garage! Great for parking, storage and the fold down double garage screen door makes this even more useful in those beautiful Arizona winters!! Come and check it out!!!

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