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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4803 E Williams Drive Phoenix, AZ 85054

$775,000

3 Beds

2 Baths

1,878 SqFt

Status Active Under Contract

MLS # 6753749

Property Type Single Family Residence

Price Type --

Step into a world of modern elegance and comfort with this meticulously remodeled gem in the heart of Desert Ridge. Nestled on a sprawling corner lot, this home offers both luxury and convenience, making it an ideal choice for those who value style and accessibility. As you enter, you'll be greeted by an inviting Great Room with a thoughtfully designed split floor plan. The space seamlessly integrates living, dining, and entertaining areas, featuring stunning travertine floors that extend throughout the home. The light and bright kitchen is a chef's dream, with an oversized breakfast bar, pristine white cabinetry with self-closing drawers, and gleaming granite countertops. Stainless Steel appliances, including a gas cooktop, add a touch of sophistication to your culinary experience. This home includes three spacious bedrooms plus an office that easily converts into a fourth bedroom to suit your needs. Each room is enhanced with upgraded LED lighting and ceiling fans, ensuring comfort in every corner. The bathrooms are adorned with custom tile surrounds, offering a touch of luxury that complements the sleek, under-mount sinks. The private backyard is your personal retreat, designed for relaxation and enjoyment. Step through the sliding doors from the Owner's Suite to discover expertly landscaped surroundings. Take a dip in the saltwater, heated pool, or unwind in the spa. Golf enthusiasts will appreciate the well-manicured putting green, perfect for honing your skills right at home. Convenience is key with direct access to Desert Ridge Marketplace, offering an array of dining, shopping, and entertainment options just moments away. For golf lovers, the renowned Wildfire Golf Course is within easy reach, allowing you to indulge in your favorite sport whenever you desire. This home is more than just a residence; it's a lifestyle. Embrace the perfect blend of luxury and practicality in this fully remodeled masterpiece.

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3467 E Appaloosa Road Gilbert, AZ 85296

$775,000

3 Beds

3 Baths

1,976 SqFt

Status Active Under Contract

MLS # 6758600

Property Type Single Family Residence

Price Type --

LANDSCAPING UPGRADE IN 2024! BEAUTIFUL BACKYARD RESORT W/TRAVERTINE PAVERS, COVERED PATIO& POOL NOW INCLUDES PUTTING GREEN & HIGH-END TURF. THIS HIGHLY UPGRADED SINGLE LEVEL SMART-HOME BOASTS 3 BEDS, 3 BATHS, GREATROOM, FORMAL DINING& 3 CAR TANDEM GARAGE. FROM THE WELCOMING FRONT PORCH THRU THE INTELLIGENTLY DESIGNED FLOORPLAN, THIS HOMES EXUDES PRIDE OF OWNERSHIP. PRIMARY BEDROOM HAS PRIVATE POOL ACCESS, ENSUITE BATH W/DUAL VANITIES& SPA SHOWER. GOURMET KITCHEN INCLUDES QUARTZ COUNTERS, GAS COOKTOP, ISLAND W/BREAKFAST BAR, STAGGERED CABINETRY, MOSAIC BACKSPLASH& RECESSED & PENDANT LIGHTING. GREATROOM FEATURES ACCESS TO BACKYARD OASIS, SURROUND SOUND& FIREPLACE. PLANTATION SHUTTERS, ARCHWAYS, WOOD-LOOK TILE& HIGH-GRADE CARPET. WATER SOFTENER, TANKLESS WATER HEATER, SOFT-CLOSE CABINETS T/O

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29106 N 144th Street Scottsdale, AZ 85262

$775,000

4 Beds

2 Baths

2,303 SqFt

Status Active

MLS # 6763528

Property Type Single Family Residence

Price Type --

If you are looking for rural living on over an acre of land, look no further! Constructed just a few years ago this home features gorgeous solid wood cabinetry, granite counter tops, stainless appliances, low-E windows, beautiful tile flooring, a stacked stone fireplace, covered patio, 4 car garage, 4 spacious bedrooms or 3 bedrooms + a den if that works better for you. It is the perfect size home that offers plenty of room but is easy to manage. Enjoy the convenience paved roads and a private well, shared with only one neighbor. Outside there is room to bring all your toys, build a shop or just simply enjoy our amazing Sonoran desert lifestyle!

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10142 E Tupelo Avenue Mesa, AZ 85212

$775,000

2 Beds

2.5 Baths

3,194 SqFt

Status Active

MLS # 6759203

Property Type Single Family Residence

Price Type --

Entertainer's delight inside & out. Situated on a corner lot & backs a walking path. This concert plan is nicely appointed & boasts 3,194 sq ft of livable space & 2.25-car garage (room for a golf cart). Includes 2 oversized ensuites, W-I closets-custom organizers, raised vanities with granite counters. Home offers dining/flex rm, den, spacious great rm with stacked stone fireplace & multi-slider with remote shades opening to an expanded travertine paver patio with extended B-I bbq island + gas fire-pit. The gourmet kitchen offers an abundance of cabinetry, lg dbl-sided island with Magma Gold granite counters, SS appliances including dual fuel Fulgor range, wall mounted hood & lg W-I pantry. 2nd multi-slider with remote shades opens to pergola covered travertine courtyard. With many extras Encore, an award-winning 55+, offers clubhouse, Bocci ball, pickle ball, tennis, heated pool (with lanes) & spa. Also work-out facility, craft room, billiards, Proving Ground Cafe, meeting rooms, card rooms and a number of planned activities and groups to join.

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7449 E Soaring Eagle Way Scottsdale, AZ 85266

$775,000

2 Beds

2 Baths

2,060 SqFt

Status Active Under Contract

MLS # 6717798

Property Type Single Family Residence

Price Type --

PRICE REDUCTION! NEW Exterior Paint + ROOF Repairs! This immaculate home is just waiting for your personal design touches! Experience tranquility in your South-facing backyard with stunning mountain views, covered patio, and custom pergola for outdoor living. This meticulously maintained 2-bed, 2-bath home boasts an extra den/office space, or turn into a 3rd bedroom. The kitchen seamlessly flows into a spacious family room featuring a dual gas fireplace. Enjoy Winfield's amenities like a 13,000 sqft clubhouse, heated resort-style pool, spa, fitness center, and 8 tennis courts (including 2 clay) and 2 pickleball courts with pro services for social play, competitions, and clinics. Live the vibrant Winfield lifestyle!

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19550 N Grayhawk Drive Unit 1028 Scottsdale, AZ 85255

Open House

$775,000

3 Beds

2 Baths

1,668 SqFt

Status Active

MLS # 6741375

Property Type Townhouse

Price Type --

MOUNTAIN VIEWS, NO STAIRS, ALL ONE LEVEL, NO CARPET - A peaceful retreat tucked in a quiet corner with quick ingress egress off Haulapai Drive this unit was completely rehabed 2 years ago. Features include all new luxury vinyl flooring, 5'' baseboards, kitchen & bath cabinets, quartzite (not quartz) counters, SS appliances, reverse osmosis, remote controlled blinds, murphy bed, all LED lighting, ceiling fans, new closet in primary & secondary bedrooms with custom closet design, built in cabinets throughout for additionoal storage cabinets with lighted displays & owned water softener. Garage features includes epoxy coated flooring & built in cabinets. No details missed on this one - move in ready & beautifully done! Make an apppointment today!

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8644 E Bonnie Rose Avenue Scottsdale, AZ 85250

Open House

New

$775,000

4 Beds

2 Baths

1,620 SqFt

Status Active

MLS # 6781769

Property Type Single Family Residence

Price Type --

This beautifully home, with NO HOA, features a open-concept layout and a gourmet kitchen with high-end cabinetry, a custom hood, gas range, quartz island with waterfall edges, and modern appliances. The home offers luxury vinyl flooring, recessed lighting, and dual-pane windows. The primary suite offers dual closets and a stylish walk-in shower. A versatile 4th bedroom makes a great podcast room or small gym. Enjoy the oversized laundry room and direct garage access.The backyard ideal for outdoor entertaining, pavers and RV Gate for additional storage. Also, plenty of space on the side yard for toys. Perfect for Airbnb, centrally located just minutes from Old Town, 15 minutes from Kierland, Scottsdale Airport, and Sky Harbor. Close to Scottsdale Fashion Square, top restaurants, and parks.

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10364 E Star Of The Desert Drive Scottsdale, AZ 85255

Open House

$775,000

3 Beds

2 Baths

1,604 SqFt

Status Active

MLS # 6781638

Property Type Single Family Residence

Price Type --

Discover the charm of this beautiful Scottsdale residence, perfectly situated on a private corner lot in the highly coveted McDowell Mountain Ranch Community. The impressive curb appeal draws you in, and once inside, you're greeted by soaring vaulted ceilings that fill the home with abundant natural light and an inviting, open space. The heart of the home, the great room, boasts a contemporary eat-in kitchen complete with granite countertops, modern cabinetry, and stainless steel appliances. The adjacent living area features a dramatic stacked stone fireplace that extends to the ceiling, creating a warm and stylish gathering spot ideal for relaxing or entertaining. The primary suite is an oasis of comfort, offering generous space and direct access to the patio while the ensuite offers dual sinks, a soaking tub, a separate walk-in shower, and ample closet space. Step outside to your backyard where you will find a sparkling pool with a rock waterfall, built-in BBQ, and spacious patio to enjoy the sunset views! As if the home's offerings aren't enough, enjoy the perks of McDowell Mountain Ranch living, where community amenities abound: two swimming pools, tennis and pickleball courts, a children's playground, and a splash pad for endless family fun.

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248 E Julian Drive Gilbert, AZ 85295

Open House

$775,000

3 Beds

3 Baths

2,871 SqFt

Status Active

MLS # 6768995

Property Type Single Family Residence

Price Type --

From the time you stroll through the courtyard to the solid oak, arched plank door with speakeasy to enter this beautiful home, serenity greets you as you gaze through the large living room windows onto a gorgeous greenbelt view. Flowing floor plan offers 10' ceilings & generous-sized rooms throughout. Enjoy backyard views and good conversation while preparing meals in the smartly designed kitchen adjoining great room & breakfast nook as you save time, with laundry room steps away. Large Owner's suite has private french door to yard. Huge bath offers comfort height dual vanities, large tile shower with frameless glass, dual showerheads, incl. waterfall. Walkin closet w/builtins. Two bedrooms in guest wing, plus library w/bookcases opens to courtyard. Workshop has A/C & abundant cabinets.

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14809 S 25th Way Phoenix, AZ 85048

Open House

$775,000

4 Beds

3 Baths

3,235 SqFt

Status Active

MLS # 6705961

Property Type Single Family Residence

Price Type --

SIMPLY GORGEOUS spacious 3,235 sq.ft. 4 Bed/3 Bath home (1 Bedroom & Bath downstairs) with HUGE Office/Gym/Bonus Room (also downstairs) with luxury backyard Pool Oasis! Stunning marble-style Italian porcelain Tile & Wood floors. Entertainer's Living & Dining Rooms with large windows bringing in natural light when you open the Shutters! Extensive Kitchen granite Counters & Breakfast Bar Island give plenty of room for the gourmet cook! 2-Way wood-burning Fireplace between Breakfast Room & Family Room. Large Laundry Room with sink, counters, cabinets, Washer & Dryer stay! Movie Star sized Primary Suite Closet with center Island! Primary Bath boasts rich cabinets, granite counters PLUS 2nd Walk-in Closet. TONS OF STORAGE! NEW ROOF (2019). Both AC units replaced (2017 & 2024). Newer windows, updated lighting fans & fixtures. Classy roller shades & Plantation Shutters. Refinished Expresso Kitchen cabs, stainless hardware, BRAND NEW Range & GE Fridge. Garage Solar-Lite tubes. Resort-style Backyard has spacious wrap-around Pool w/mosaic tile surface showcasing dolphin & octopus art, high-end Pool Gate. Synth Grass in front & back! Tomato & Herb Garden, Tangelo, Mandarin, Pomegranate & Orange Trees. All MOUNTAIN PARK RANCH amenities. Neighborhood access to mountain hiking trails. Kyrene Schools nearby. Close to freeway access, shops, dining, airport, downtown!

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4213 E Taro Lane Phoenix, AZ 85050

Open House

$775,000

5 Beds

3 Baths

2,586.25 SqFt

Status Active

MLS # 6766039

Property Type Single Family Residence

Price Type --

Welcome to this stunning 5 bedroom, 3 bathroom home located in the desirable NorthEast Phoenix neighborhood. This beautifully maintained property features a newly modern kitchen with stainless steel appliances, a cozy fireplace french door for the patio . Recent upgrades include a new kitchen , fresh exterior paint, new window replacement, updated HVAC, etc.], The large backyard offers a perfect space for entertaining, complete with covered patio, large pool, and built-in grill . Conveniently located near Desert Ridge and Scottsdale Quarter , this home is ideal for families and professionals alike. Don't miss the opportunity to make this your dream home! ---

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8122 E Via De La Escuela -- Scottsdale, AZ 85258

Open House

$775,000

2 Beds

2 Baths

1,890 SqFt

Status Active

MLS # 6764494

Property Type Single Family Residence

Price Type --

Welcome to this gorgeous single-level lock and leave in McCormick Ranch on a oversized private lot! Hop on your bike to popular Local hot spots, and a few steps to the 26 miles scenic paths,130 acres of lakes and 36 holes of golf. Relax in community pool & hot tub, This property has tons of updates including an cathedral ceiling in foyer, a full home update in 2015 including new cabinets and granite countertops. The great room and dining area's are the heart of the home and offer tons of natural light and access to the oversized backyard(pool-size). Get ready to relax and soak up the sun and entertain by the cozy firepit. Cooling the home is a breeze with new AC units. Begin living the dream Scottsdale lifestyle today in one of the most sought after locations in the Valley! McCormick ranch is one of the hottest neighborhoods in Scottsdale with Golf Course, green landscapes, lakes, walking and biking paths, and top restaurants. Along with being close to the shopping district, Old Town Scottsdale, and spring training.

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