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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18925 E Oriole Way Queen Creek, AZ 85142

Open House

$759,000

6 Beds

4.5 Baths

4,083 SqFt

Status Active

MLS # 6768161

Property Type Single Family Residence

Price Type --

NOW OFFERING $15,000 towards BUYERS CLOSING COSTS or RATE BUY DOWN!! Freshly painted exterior (11/2023) and enjoy the beautifully landscaped front and back yards with artificial turf and pavers. The home boasts thoughtful upgrades, including a newer 50-gallon gas water heater (03/2023), new carpet on the second floor (10/2024), and plantation shutters, ceiling fans, and lights in every room. The spacious kitchen features extended cabinetry, while the tech station has added cabinets and counters. The dining room has been converted into a cozy den with French doors, and a bonus room provides extra living space. Upstairs, a Jack and Jill bathroom connects two bedrooms, and the master bath features a relaxing Jacuzzi tub. The laundry room has cabinets and sink

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3483 W Sunstone Drive San Tan Valley, AZ 85144

Open House

$758,995

4 Beds

3.5 Baths

2,880 SqFt

Status Active

MLS # 6768923

Property Type Single Family Residence

Price Type --

The Lockhart's covered porch and foyer open onto the expansive great room, casual dining area, and desirable large covered patio beyond. The well-equipped kitchen is complete with a large center island, plenty of counter and cabinet space, and walk-in pantry. The primary bedroom suite is enhanced by an enormous walk-in closet and deluxe primary bath with dual-sink vanity, large soaking tub, luxe shower with seat, and private water closet. Central to a generous flex room, the ample secondary bedrooms feature sizable closets, one with private bath, two with shared bath with separate dual-sink vanity area. Additional highlights include a convenient powder room and drop zone, central located laundry and additional storage.

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4512 E Turney Avenue Phoenix, AZ 85018

$758,000

3 Beds

1 Bath

952 SqFt

Status Active

MLS # 6748390

Property Type Single Family Residence

Price Type --

LOCATION LOCATION LOCATION - Arcadia Lot with Camelback Mt view! Ready to build your own dream home. Drive down this street and see the opportunity and what has been developed in this charming area in Arcadia. This 3 bedroom home is also available to live in as it stands. Venture into the inviting living room, featuring a neutral palette. The eat-in kitchen comes with wood cabinetry, a mosaic tile backsplash. Three cozy, well-sized bedrooms. Outside, the backyard includes a covered patio, a well-kept lawn, and the convenience of a rear entry RV gate that leads to the alley. Don't miss out on this fantastic opportunity!

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1745 E Amaranth Trail Queen Creek, AZ 85140

Open House

$758,000

2 Beds

2.5 Baths

2,368 SqFt

Status Active

MLS # 6778744

Property Type Single Family Residence

Price Type --

Discover this beautifully upgraded 2,300 sq. ft. home, featuring a spacious expanded guest suite complete with its own en-suite bath, perfect for guests or a private retreat. The backyard is an entertainer's dream with a heated pool, cozy firepit, outdoor fireplace, and retractable screen for added comfort and privacy. Inside, you'll find an elegant mix of wood flooring, tile, and upgraded carpet, complemented by custom shutters that add style and functionality. With a brand new HVAC system and an 8KW solar panel system, this home combines comfort and energy efficiency, offering luxurious Arizona living at its best. This well maintained home can be yours today. If you are an avid golfer, you can skip the waiting list and join the Encanterra golf course today!

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5045 W Top Hand Trail Laveen, AZ 85339

$757,995

3 Beds

2.5 Baths

2,740 SqFt

Status Active

MLS # 6728574

Property Type Single Family Residence

Price Type --

Entertaining is easy in the Harley plan, which boasts a well-appointed kitchen with a walk-in pantry and center island. You'll also appreciate a dining area and an adjacent great room overlooking a covered patio. This home will be built with a study, . A spacious primary suite with an attached bath and walk-in closet is separated from two secondary bedrooms for privacy. Additional features include a gourmet kitchen and a deluxe primary bathroom

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3031 E Vermont Drive Gilbert, AZ 85295

$757,500

3 Beds

2 Baths

2,289 SqFt

Status Active

MLS # 6718530

Property Type Single Family Residence

Price Type --

Price Reduction! Beautifully upgraded 3 bedrooms/2 bath home with a den. This stunning single-story home is situated in the much coveted Chaparral Estates. The open split floor plan features numerous upgrades, creating an immaculate and turnkey home. The large family room seamlessly connects to the kitchen, which boasts of beautiful granite countertops, a huge island with a breakfast bar, and a separate dining area. Plenty of cabinets and counter space, and stainless steel appliances with a spacious pantry. Storage abounds, including a 3-car garage with finished floor. Spacious primary suite includes a huge walk-in closet & a gorgeous open primary bath. The oasis backyard features a sparkling pool with water feature and an auto-timed multi colored light that can be set to come at dusk new pool pump 2023. Recently painted inside and out. Maticulasly maintained.

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8042 E Quartet Avenue Mesa, AZ 85212

$756,704

5 Beds

3.5 Baths

3,399 SqFt

Status Active

MLS # 6764387

Property Type Single Family Residence

Price Type --

MLS#6764387 November Completion! The Lewiston is a spacious two-story floor plan at Hawes Landing, offering 3,399 sq. ft. of well-designed living space with 5 bedrooms, 3.5 bathrooms, a 3-car tandem garage, formal dining room, study, and an upstairs loft. As the second-largest plan in our Landmark Collection at Hawes Crossing, it delivers both style and functionality. The foyer leads to a private study and formal dining area, which flow into the open-concept kitchen, great room, and additional dining space—perfect for hosting gatherings. Upstairs, you'll find all the secondary bedrooms, a loft, and the luxurious primary suite featuring dual vanity sinks and a spacious walk-in closet. The conveniently located second-floor laundry provides thoughtful design. Structural options include: paver front porch, garage service door, elevation C, double interior doors at study, and super shower at owners bath.

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8757 W Missouri Avenue Glendale, AZ 85305

$755,990

4 Beds

4.5 Baths

3,704 SqFt

Status Active

MLS # 6729320

Property Type Single Family Residence

Price Type --

MLS#6729320 The 2-story Hampton is sure to impress with 5 bedrooms, 4.5 baths and a 3-car garage. When you walk through the front door of this stately home, you are greeted by a long foyer with a dedicated formal dining room to host events. The Hampton provides cutting-edge open-concept designs for the ultimate in modern living with the gourmet kitchen, casual dining, and gathering room flowing seamlessly together. Upstairs, you will find the spacious owner's suite with a retreat, luxurious bath and a large walk-in closet. Three additional bedrooms, a shared bath and a loft round out the second floor. Structural options include: upgraded gourmet kitchen appliances. Design upgrades include: upgraded maple cabinets with full overlay, 42 uppers, quartz countertops, upgraded tile.

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19701 S 231st Way Queen Creek, AZ 85142

$755,772

5 Beds

4 Baths

2,993 SqFt

Status Active

MLS # 6668542

Property Type Single Family Residence

Price Type --

BEAUTIFUL GREAT ROOM, LOFT PLAN-PRIMARY DOWN. READY FOR MOVE IN!! 5 BEDROOM, 4 BATH, GOURMET KITCHEN LAYOUT, WHITE SHAKER CABINETS, GRANITE KITCHEN TOPS, TILE FLOORING, SPA SHOWER IN THE PRIMARY BATH, FRONT YARD LANDSCAPED WITH ARTIFICIAL TURF, PAVER WALKWAY & DRIVEWAY. ALL THIS, IN THE NEW PREMIER MASTER PLAN COMMUNITY, IN QUEEN CREEK, FEATURING A 22 ACRE LAKE. THIS IS THE CENTERPIECE OF THE COMMUNITY. KAYAKING AND CANOEING, AQUATIC CENTER WITH LAP AND SPORT POOL SPLASH PAD, BOCCE BALL, PICKLE BALL, BOARDWALKS AND RAMADAS THROUGHOUT AND MUCH MORE.. THE HOME INCULDES 2'' FAUX WOOD BLINDS, CEILING FANS, TANKLESS WATER HEATER+++ KATHERINE MECHAM BARNEY SCHOOL IN THE COMMUNITY.

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377 E Windsor Avenue Unit 20 Phoenix, AZ 85004

Open House

$755,575

3 Beds

2.5 Baths

1,967 SqFt

Status Active

MLS # 6775045

Property Type Townhouse

Price Type --

Park7 on Windsor QUICK MOVE-IN HOME. LUXURY URBAN LIVING with no compromises including your own private sky lounge. Ideally located in Midtown Phoenix, close to all the action. Bespoke floorplans designed specifically for Park7 developed to create an exciting lifestyle on all levels with maximized privacy. Exceptional quality construction + design with solid CMU commons walls and 10ft ceilings throughout. Designer curated interior finish Packages with standard 24'' x 48'' large format tile floors, Bosch appliances, standard waterfall kitchen islands and floating vanities, tankless hot water, EV prepared garages and more! Relax under the night sky in your own private Sky Lounge - hot tub ready with fire pit and outdoor kitchen options.

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377 E Windsor Avenue Unit 21 Phoenix, AZ 85004

Open House

$755,575

3 Beds

2.5 Baths

1,967 SqFt

Status Active

MLS # 6775046

Property Type Townhouse

Price Type --

Park7 on Windsor QUICK MOVE-IN HOME. LUXURY URBAN LIVING with no compromises including your own private sky lounge. Ideally located in Midtown Phoenix, close to all the action. Bespoke floorplans designed specifically for Park7 developed to create an exciting lifestyle on all levels with maximized privacy. Exceptional quality construction + design with solid CMU commons walls and 10ft ceilings throughout. Designer curated interior finish Packages with standard 24'' x 48'' large format tile floors, Bosch appliances, standard waterfall kitchen islands and floating vanities, tankless hot water, EV prepared garages and more! Relax under the night sky in your own private Sky Lounge - hot tub ready with fire pit and outdoor kitchen options.

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1930 E Monterey Way Phoenix, AZ 85016

$755,000

3 Beds

2.5 Baths

2,171 SqFt

Status Active

MLS # 6781146

Property Type Single Family Residence

Price Type --

Don't miss this Gorgeous Central Phoenix CONTEMPORARY 2019 BUILD on cul de sac street. 2171 SF, 3 Bedrooms Upstairs, 2 Bathrooms Upstairs, Half Bathroom Downstairs. Brand New Tile Flooring throughout with an open spacious floor plan. Great Room with 10' ceilings. Dining area features wet bar center with 2 beverage refrigerators and extra storage space. Open kitchen with lots of sleek cabinetry, stainless appliances including gas range and beautiful waterfall quartz counter. Laundry on the main floor with space saving tankless water heater. Double wide gate gives access to additional covered parking area with extra high ceiling. Wonderful Phoenix location, conveniently located to easy freeway access.

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