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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3922 E Canyon Place Chandler, AZ 85249

$745,000

5 Beds

4.5 Baths

3,340 SqFt

Status Active

MLS # 6780338

Property Type Single Family Residence

Price Type --

This exquisite home features 5 bedrooms and 4.5 bathrooms, providing ample space for comfortable living. A great room that is perfect for hosting gatherings with family and friends. An elegant kitchen with granite countertops, upgraded cabinets, a walk-in pantry, and a combination microwave/wall oven. Ceiling fans and tile flooring throughout. And an extended covered patio perfect for outdoor entertaining. Also downstairs is a fifth bedroom with its own bathroom and a half bath conveniently located for guests. Upstairs highlights: a master suite with luxurious rain glass shower, a second bedroom with its own bathroom, third and forth bedrooms that share a Jack and Jill bathroom, and a loft area featuring a covered balcony. Buyers to verify all information to ensure accuracy.

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2926 S Presidio De Calabasas -- Flagstaff, AZ 86001

$745,000

4 Beds

3.5 Baths

2,162 SqFt

Status Active Under Contract

MLS # 6770563

Property Type Townhouse

Price Type --

Welcome to this stunning Miramonte townhome with an attached casita on a premium lot! This property is ideal for a primary residence, second home, or an investor—live in the main house and rent the casita. The open and airy floor plan includes a primary bedroom conveniently located on the main level. This home is loaded with Miramonte's signature upgrades, including upgraded flooring, elegant cabinetry, a cozy fireplace, premium fixtures, custom LUTRON lighting, granite countertops, and stainless-steel appliances. Ask your advisor for the full list. Enjoy the added benefit of ample parking is next to the home. Situated close to downtown, you'll have easy access to restaurants, shopping, and trails.

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100 Bell Wash Court Sedona, AZ 86351

$745,000

3 Beds

2 Baths

1,782 SqFt

Status Active

MLS # 6725742

Property Type Single Family Residence

Price Type --

This Sedona home in Firecliff offers STUNNING RED ROCK VIEWS from the back patio & Bell Rock views from the front yard! Inside, discover elegant Travertine Stone flooring, granite counter tops, 10' ceilings & alder wood cabinets. Great Room boasts a gas fireplace that will heat the entire room. Step outside to enjoy patios surrounded by wonderful landscaping including colorful rose bushes and an Apricot tree! HOA fees covers landscaping making this a perfect low maintenance home. Enjoy resort style living with a gated, heated community pool complete with hot tub, cabana, BBQ and bathhouse. 3 golf courses, a yoga studio, tennis and pickleball courts are all within a mere 2 miles, along with the Bell Rock trailhead which is the gateway to the extensive Red Rock hiking/biking system.

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9922 W Jessie Lane Peoria, AZ 85383

$745,000

3 Beds

2.5 Baths

2,422 SqFt

Status Active

MLS # 6759928

Property Type Single Family Residence

Price Type --

Home is here!! This all single story community at Sunset Ranch next to the highly desirable Meadows Community in North Peoria offers great curb appeal, easily manicured landscaping, a 3 car garage AND HOA approved RV gate/parking. The impressive interior boasts a spacious open layout with separate living & dining areas, den with double barn doors that could be an extra bedroom or an office, tall ceilings with crown moulding, wood-look plank tile flooring, soft carpet, and neutral paint throughout. The kitchen features staggered cabinets with more crown moulding, matching appliances, ample counters and an island with breakfast bar. The large owner's suite has outdoor access, seating area, and an ensuite with dual porcelain vessel sinks, a separate tub & shower, and a walk-in closet. The entertainer's backyard is comprised of an extended covered patio, a built-in eat-in bar, attached pergola, year-round lush green lawn and a crystal blue pool. Cap all those features off with neighborhood amenities, including a pickleball courts, playgrounds, walking paths and more! Hurry and make an offer, this home won't last!!

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1116 W Courtney Lane Tempe, AZ 85284

$745,000

4 Beds

3 Baths

2,578 SqFt

Status Active

MLS # 6735488

Property Type Single Family Residence

Price Type --

$10,000 Buyer Concessions! Beautifully maintained North/South 4 BEDROOM 3 BATH 3 CAR GARAGE with RV GATE with 39 foot driveway on LARGE LOT in desirable SIERRA TEMPE! Split 4th Bedroom/Bath*Gas Heating/Hot Water(SWG)*Big Ticket Items-Roof & Multi-Zone A/C-have been replaced * INCLUDED with home: 2024 Upgraded Whirlpool Refrigerator, Upgraded Samsung W/D , ASG Security System and Clear Concepts soft water system (exterior spigots also plumbed with soft water) ** Quick access to I-10 & 202 Freeways, Sky Harbor Airport, Chandler Fashion Mall, 2 Outlet Malls & shopping of every kind! Variety of Restaurants too! A few minute drive to 8th Largest Park in US-South Mountain Park(16,000 acres)which offers 58 miles of hiking/biking! Kyrene School District. Campbell Community Park a short walk.

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907 & 911 E Goodwin Street Prescott, AZ 86303

$745,000

4 Beds

2.5 Baths

2,161 SqFt

Status Active

MLS # 6746779

Property Type Single Family Residence

Price Type --

INVESTOR'S ....This has VRBO, Air B&B, or Long Term Rental written all over it!!! Here we have 2 separate units less than ½ mile/5 minutes from the Prescott Square in Historic Prescott, Arizona!!! Both properties, basically a Duplex, are on a .16 acre lot that cannot be split.....911 Goodwin was built in 1953 as a single story cottage, has 1009 Square Feet, 2Bedrooms/1Bathroom, Original Wood Floors, Painted Cabinetry, Tile countertops, Newer Wall furnaces, & Laundry Room....907 Goodwin was built in 2007 as a 2 story home, has 1152 Square Feet, 2bedrooms/1.5bathrooms, with New Vinyl windows, Luxury Vinyl Flooring, White Cabinetry, Granite Tile Countertops, Open Deck, & Laundry Room. Off-street parking only with no garages. Bedrooms for 907 are upstairs with full bath & dual sinks. Backyards are both fenced, & both have been recently painted and roofed. Must see to appreciate.

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8628 W Solano Drive Glendale, AZ 85305

$745,000

4 Beds

3.5 Baths

3,704 SqFt

Status Active

MLS # 6763308

Property Type Single Family Residence

Price Type --

MLS#6763308 The two-story Hampton is sure to impress, featuring four bedrooms, four baths, and a three-car garage. Upon entering through the front door, you'll be welcomed by a grand foyer that leads to a dedicated formal dining room, perfect for hosting events. The Hampton showcases contemporary open-concept design, where the gourmet kitchen, casual dining area, and gathering room flow effortlessly together for modern living. Upstairs, you'll find the spacious owner's suite, complete with a cozy retreat, a luxurious bath, and a large walk-in closet. The second floor also includes three additional bedrooms, a shared bath, and a versatile loft space. Structural options include: gourmet kitchen, super shower at primary bath, 42'' upper cabinets.

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102 E El Caminito Drive Phoenix, AZ 85020

$745,000

3 Beds

2 Baths

1,967 SqFt

Status Active

MLS # 6772104

Property Type Single Family Residence

Price Type --

Highly upgraded custom home with private pool on a large 10,582 sqft lot. A custom steel enhanced door welcomes you into your private atrium/courtyard. Unique contemporary split floor plan loaded with custom finishes throughout. Modern kitchen features smooth black cabinets with pull outs & ups, lighted buffet wall, quartz counters, stainless tile back splash, double ovens, recessed lighting and skylight. Open great room with 12' ceilings and surrounded by walls of glass providing very Frank Lloyd Wright views of nature providing natural light, plants and water from both sides. 2 natural wood burning fireplaces included in the great room and master suite. Updated bathrooms with modern finishes and fixtures. Roof and AC are less than 2 years old. Fabulous entertainers backyard. No HOA! Backyard features a private pool, multiple sitting areas, large covered patio, natural gas grill, multiple storage rooms and access to the enclosed two car carport with electronic gate. There is a combination of synthetic and real grass, extended concrete and covered patio as well as raised paver sitting areas in the back. A custom staircase has been installed for easy roof access. There is a utility room off the back patio as well as a large storage shed behind the carport. New water main shut off, gas water heater. The front courtyard/atrium features a large water fountain in the center, mature landscaping, tile pavers, covered patio and custom lighting. Both the front bedroom and master suite are oversized rooms 14'x18' and also both have access to and views of the courtyard/atrium via sliding glass doors. Besides the views of the courtyard, the master suite also features a wood burning fireplace, 2 closets (1 walk-in) and private upgraded ensuite with access to the backyard, perfect for the pool goers. Washer, gas dryer and refrigerator included. AC has a 10 year warranty, 7+ years left transferable to the new buyer. This is a true custom home and a must see to appreciate!

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2585 N 165th Drive Goodyear, AZ 85395

$745,000

2 Beds

2.5 Baths

2,363 SqFt

Status Active Under Contract

MLS # 6726587

Property Type Single Family Residence

Price Type --

WOW! I Could Live Here!? Yes, Indeed. The Stunning Mirador Floor Plan, Impeccably Maintained, Updated, and Upgraded, Over-Looking a Spacious Common Area in PebbleCreek, The New Standard for 55+ Communities. The Upgrades are far too many to mention here. See the list in the Documents Section of the MLS. This luxurious Home on a Large Corner Lot is Perfect for Entertaining. 14 OWNED SOLAR Panels, 22 PRE-PAID LEASE SOLAR Panels, Lots of Extras. 2 Bedrm, 2.5 Bath, Den, Upgraded Kitchen Cabinets, R/O Water System, Extd Garage, Golf Cart Garage, Extd Patio. Motorized Sun Shade, Solar Tubes, Thermostatically Controlled Attic Exhaust Vent, Electronic Air Cleaners, Water Softener, Blackout Shades, Built-in Outdoor Kitchen, Garage Floor Coating, 3 HVAC Zones, Countless More Upgrades. Don't Miss it

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43127 N 14th Street New River, AZ 85087

Open House

$745,000

5 Beds

3 Baths

2,526 SqFt

Status Active

MLS # 6751802

Property Type Single Family Residence

Price Type --

Gorgeous New River Home with over $50k in upgrades!! Beautiful rustic home with large lot and dramatic mountain landscapes! Walk into the entrance by a draw bridge across true desert landscape into the front door you will notice the fireplace in the Great room overlooked by the expansive kitchen with full appliances. Tile throughout except master & 3 bedrooms. The master is split from 3 other bedrooms and features 1 bedroom with its own detached full bath, optional for guest use. All appliances included! The backyard is fully block fenced with an RV gate. Well is shared between & each individually metered, located on the corner of the property. Solar typically covers 10 months of electric bill for the year with 5 people use! The other 2 mo approx. $30 per mo. Come see for yourself!

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414 W Seagull Drive Chandler, AZ 85286

Open House

New

$745,000

3 Beds

2 Baths

2,181 SqFt

Status Active

MLS # 6783359

Property Type Single Family Residence

Price Type --

This stunning residence offers 3 bedrooms plus an optional den or 4th bedroom, a refreshing pool, and a 2 plus 1 car garages, all situated on a large lot in the sought-after lake community of Arden Park. Step inside to an open floor plan with soaring ceilings, a gourmet kitchen featuring an island and pantry, and a split floor plan for added privacy. New flooring flows throughout, adding a fresh and modern touch. The backyard is a true oasis, complete with a sparkling pool, covered patio, outdoor firepit, putting green, and lush landscaping—perfect for relaxation and entertaining. Just steps away, enjoy the community park and scenic lake. Conveniently located near the 202 & 101 freeways, Price Tech Corridor, Intel, Wells Fargo, Chandler Fashion Mall, and... ...top-rated Chandler schools, this home offers both lifestyle and location! This is an incredible opportunity to join this beautiful neighborhood at a great price. Don't miss it!

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12073 W Desert Mirage Drive Peoria, AZ 85383

Open House

New

$745,000

3 Beds

2.5 Baths

2,341 SqFt

Status Active

MLS # 6783850

Property Type Townhouse

Price Type --

Remodeled great room plan is better than new! Updates in 2020 include cabinets, countertops, flooring, paint, room addition, wet bar, steam shower, sliding pocket doors, lighting, plus more. Tranquil outdoor space with oversized patio, firepit, outdoor kitchen, fountain and above-ground spa. Room addition added 150 square feet livable space with custom walk-behind wet bar. Stylish entertainment wall with electric fireplace and smart tv. Nine foot sliding pocket door with auto screen. Light and bright kitchen with exquisite granite. Stainless KitchenAid appliances include gas stove & hood with a separate water spigot and wine refrigerator. All appliances included. Laundry room features 2020 Electrolux stack washer/dryer, sink and California Closets. Outside Living at its BEST with this spacious oversized yard Travertine tiled backyard & patio installed Mature Landscape has fully automated irrigation & lighting. Above ground Series 500 Joli - Vita Spa Built-in natural gas BULL BBQ center with beverage refrigerator Built-in natural gas FIREPIT Natural gas plumbed for 3 outdoor heaters. Easy hookup design. Water fall feature fully automated and side yard has separate storage area Steam shower in master bath with heated tile floors & seat Master closet is maximized by California cabinets Separate closet for additional storage Toto bidet toilet

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