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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26702 W Sierra Pinta Drive Buckeye, AZ 85396

$737,777

2 Beds

2 Baths

2,023 SqFt

Status Active

MLS # 6657937

Property Type Single Family Residence

Price Type --

A MILLION DOLLAR VIEW WITH A HOUSE THROWN IN! THIS ONE OF A KIND HOME W/4 FT GARAGE EXT FEATURES $124,000 IN BUILDER UPGRADES & OVER $135,000 IN SELLER UPGRADES! Fabulous open concept floor plan offering Sweeping golf course and mountain views. Gathering space showcases a full wet bar & media wall w/fireplace. Highly upgraded Lux kitchen layout w/huge kitchen island/seating. The master en-suite is complete with bay window offering panoramic views, spa tile surround shower, & large walk-in closet. Den/flex room has french doors & custom murphy bed. An inviting 2nd bedroom w/adjacent bath for guests. The utility room has upper/lower cabinets & office niche. Enjoy outdoor living on your covered patio overlooking your beautiful water feature, fire pit, outdoor kitchen and stellar views!

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5471 N 83rd Drive Glendale, AZ 85305

$736,300

4 Beds

2.5 Baths

2,210 SqFt

Status Active

MLS # 6741008

Property Type Single Family Residence

Price Type --

A truly unique opportunity in the heart of Glendale! One level living - 4 bedroom 3 bath home with open concept floor plan and soaring ceilings. Huge windows make it light and bright while allowing full views of the oversized (inside corner) lot. Island kitchen with granite countertops and white cabinets! Spacious primary suite with dual vanities, walk-in closet, soaking tub, and shower. The backyard has a large covered patio, dual RV gates, extra concrete slab behind one RV gate. Plenty of room for all your outdoor activities! Up to 2 horses allowed!

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22435 W Bobwhite Way Wittmann, AZ 85361

$735,000

3 Beds

2.5 Baths

2,526 SqFt

Status Active

MLS # 6661398

Property Type Single Family Residence

Price Type --

FINAL OPPORUNITY! FINANCE INCENTIVES RATE BUYDOWN! JUST UNDER ONE-ACRE! NEW HOME, October move in! 2526sqft single level home, 3-bedroom, Flex, 2.5 bath. 3 car tandem plus attached RV garage 15x52 w/ 10X10 at rear of RV garage. Spacious open kitchen, 42'' cabinets, quartz countertops, extended kitchen island, gourmet stainless steel appliances, large owner's suite with impressive walk-In shower all tile and more! Privacy, privacy, privacy! Surprise Estates features quality new homes on just under one-acre homesite with attached RV garage, bring all your toys!! Pristine desert surroundings make Surprise Estates the ultimate sanctuary. We are located just outside the city of Surprise, with quick access to major freeways and less than 30 minutes from Lake Pleasant

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2247 E Indian Wells Drive Gilbert, AZ 85298

$735,000

5 Beds

3 Baths

2,878 SqFt

Status Active

MLS # 6769562

Property Type Single Family Residence

Price Type --

Welcome to this stunning 5-bedroom 3 full bath home located on a coveted corner lot w/ ideal n/s exposure. This Bradshaw model home has 10' ceilings & offers a perfect blend of luxury, convenience & modern upgrades. Inside the open floor plan showcases wood plank tile in all the right places including bedroom 4, complemented by new carpet in bedroom 2,3 & 5. Bedroom 5 has custom built-in shelves. The gourmet kitchen is a chef's dream w/ quartz countertops, a striking backsplash, convection double wall ovens, a gas range w/ hood & motion-activated sink faucet. The pendant lighting adds a modern touch creating an inviting space for family/friends. Large laundry room equipped w/ 2nd refrigerator, upper cabinets & utility sink for added functionality. Step outside to your private oasis featuring a sparkling pool w/ 2 led lights, lush, low-maintenance artificial turf & a built-in BBQ perfect for entertaining. Enjoy indoor-outdoor entertaining w/ surround sound both inside & out. The iron security door provides added peace of mind. This home is packed w/ upgrades: water softner, added upper external power outlet for holiday lights, epoxy garage floors, fiberglass garage side entry door, w/i the last year a new Bosch dishwasher, recessed can lights in the dining room, & recently replaced AC air handler. Other recent updates include new water heater, washing machine & water valves. W/i the last 2 years, the central air ducts were lowered & covered w/ R-44 insulation for improved energy efficiency. The attic hatches were sealed & three new grille registers were installed for better airflow throughout the home. Neutral interior paint. Nest thermostats add to the home's modern appeal & smart home capabilities. This home is move-in ready complete w/ washer/dryer, 2 refrigerators. Adora Trails is not just a neighborhood; it's a vibrant community w/ a plethora of amenities. Residents enjoy walking trails, a clubhouse w/ a full gym & studio room where live classes are taught. A kitchen & meeting rooms are also available for use. There are many parks throughout & an on site elementary school. CUSD school district has been named the #1 best public school District in AZ. The pool features lap lanes, a wading area w/ splash pad & is heated during the winter months allowing year round swimming. The community hosts numerous events, fostering a strong sense of camaraderie among neighbors. Come see why so many are calling Adora Trails home.

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19080 E Oriole Way Queen Creek, AZ 85142

$735,000

6 Beds

4.5 Baths

4,083 SqFt

Status Active

MLS # 6692444

Property Type Single Family Residence

Price Type --

Nestled within the serene Cortina neighborhood of Queen Creek, discover this captivating residence. Boasting a convenient RV gate and proximity to esteemed schools, parks, dining options, and more, this home offers a lifestyle of ease and accessibility. Step inside to find a thoughtfully designed floor plan featuring a first-floor junior suite, a second-level loft, and an executive office, all bathed in natural light. Ascend to the upper level to retreat to the spacious primary suite, complete with a private balcony overlooking scenic views. With an expansive 4-car garage, this home effortlessly caters to your needs. Outside,the backyard beckons with its grass landscape and covered patio, perfect for outdoor relaxation and recreation.

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1435 E Artemis Trail Queen Creek, AZ 85140

$735,000

2 Beds

2.5 Baths

2,143 SqFt

Status Active

MLS # 6703629

Property Type Single Family Residence

Price Type --

Nestled within a canvas of architectural elegance, this Positano model is TURN-KEY READY! By turn-key ready, EVERYTHING you see in the home may be purchased to stay at close. It features a serene courtyard entry, two luxurious primary suites with lavish ensuites, and a chef's kitchen with a gas stove. Outside, a picturesque pergola offers privacy and tranquility among hedged trees and blooming citrus, providing a haven for relaxation and culinary inspiration. Every detail invites you to savor life's finest moments in this artistic haven of beauty and comfort. Buyer has the option to purchase FULLY FURNISHED with a separate bill of sale.

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18256 N 75th Avenue Glendale, AZ 85308

$735,000

3 Beds

3 Baths

2,896 SqFt

Status Active

MLS # 6738094

Property Type Single Family Residence

Price Type --

Discover this inviting home on a nearly half-acre lot in the coveted Hidden Manor neighborhood! With plenty of space for creative updates, this property is a blank canvas ready for your personal touch. Enjoy the expansive pool and exclusive shared access to a tennis court, perfect for active lifestyles and community fun. Hidden Manor offers a welcoming atmosphere and a strong community spirit. Don't miss this opportunity! Additional photos available!

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40805 N Harbour Town Way Anthem, AZ 85086

$735,000

2 Beds

2.5 Baths

2,372 SqFt

Status Active

MLS # 6748535

Property Type Single Family Residence

Price Type --

Anthem Country Club ~ Original owner has meticulously maintained this 2 bedroom, den, 2.5 bath as a second home! Enjoy the fantastic golf course and mountain views from the elevated sitting area under the pergola. Backyard also features a built-in BBQ, gas firepit and covered patio. Other updates include quartz counters in kitchen and baths, contemporary white cabinets with pullouts, flattened kitchen peninsula, built-ins in den, built-ins in primary bedroom walk-in closet, water softener and filtered drinking water. Kitchen includes gas cooktop and wall ovens. Refrigerator, washer & dryer included. Primary bath offers walk-in shower, dual sinks and walk-in closet. Custom window treatments. Extended length garage and cabinets for additional storage. New exterior paint 2023.

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18653 N 259th Avenue Buckeye, AZ 85396

$735,000

2 Beds

2 Baths

2,077 SqFt

Status Active

MLS # 6764899

Property Type Single Family Residence

Price Type --

WOW! WHAT A VIEW! This 2-bed, 2-bath, plus den Pursuit model backs up to State Trust Land offering unobstructed views of the natural desert and White Tank Mountains. This homesite is a rare find...not many like it exist. Plus, the home is packed with custom, non-builder upgrades contracted through the owner. The attractive kitchen includes custom white cabinets, Mexican tile backsplash and premium stainless-steel appliances. The expanded owner's suite features custom bath cabinetry, countertops, fixtures and a frameless glass low-threshold shower. The den is highlighted with built-in shelving and cabinetry. The extended garage includes built-in storage cabinets. The backyard patio is a relaxing paradise, with incredible views, Saltillo tile, firepit and outdoor kitchen with refrigerator.

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41522 N Bay Hill Way Anthem, AZ 85086

$735,000

3 Beds

3 Baths

2,454 SqFt

Status Active

MLS # 6771941

Property Type Single Family Residence

Price Type --

Wonderfully updated home in Anthem Country Club. Popular Peregrine floor plan with a casita, located on a corner lot with an open area wash behind the home. In 2020, the owners did a major remodel in the kitchen and great room with new flooring, all new appliances and new granite countertops. Removed pony wall and opened up the area for great entertaining space! New lighting and entertainment wall with fireplace!Absolutely stunning! Entire back yard was also redone with pool and spa resurfacing, added water feature and fire pots, new pool heater, bbq island redone and new cool decking installed. Stone walkways on both sides of the home. Ramada in back yard for total relaxation and additional covered space. The front courtyard is spectacular and a great spot for your morning... coffee. People love this floor plan as it is open and inviting! The home has 2 bedrooms and 2 baths and a full bath casita! The casita has a separate entrance from the courtyard, but also direct interior access as well! Perfect spot for guests OR perfect spot for office, art studio, or fitness room! Welcome home and welcome to Anthem Country Club! Two 18 hole championship golf courses, 2 clubhouses with restaurants, bars, swimming pools, workout facilities, tennis, pickle ball and bocce ball! And, you have access to all of the amenities in Parkside including water park, sand volleyball, pickleball, skate park, catch and release fishing ponds, basketball, rock climbing wall, tennis and more!! Truly a one of kind community!

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6911 E Russell Street Mesa, AZ 85207

$735,000

4 Beds

3 Baths

2,206 SqFt

Status Active

MLS # 6756635

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4-bedroom, 2.75-bath home, nestled in the desirable Las Sendas community of Mesa, Arizona. Built in 2019, this modern gem offers 2,206 square feet of beautifully designed living space. The home features a gorgeous custom kitchen, perfect for culinary enthusiasts and entertaining guests. Enjoy the privacy and security of a gated community while benefiting from the serene surroundings and exceptional amenities that Las Sendas has to offer. This property combines contemporary elegance with a welcoming atmosphere, making it an ideal choice for those seeking a comfortable and stylish living experience.

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3902 E Agave Road Phoenix, AZ 85044

$735,000

5 Beds

2 Baths

2,229 SqFt

Status Active

MLS # 6765983

Property Type Single Family Residence

Price Type --

Welcome to this 5 bedroom, 2 bonus room, 2 bath gem, perfectly situated on a large corner lot in a peaceful cul de sac within the highly desirable Landing at Mountain Park Ranch. With breathtaking mountain views and the perfect blend of luxury and comfort, this home offers an ideal retreat for Arizona living. Inside, you'll find a bright, freshly painted interior with gorgeous tile flooring throughout and soaring vaulted ceilings that add an extra touch of spaciousness. The chef's kitchen is designed for both style and functionality, featuring granite countertops, a sleek tile backsplash, a tile wrapped island, and stainless steel appliances including a double oven and convection stovetop. Step into the backyard oasis, where multiple seating areas, a covered patio, and a sparkling pool. The bonus room just off the primary suite offers patio access, making it an ideal spot for a home office, gym, or private retreat. Additionally, a second bonus room at the front of the house is perfectly suited for an office or study, enhancing the home's versatility. The luxurious primary suite boasts a walk in tiled shower with dual shower heads, granite countertops, and custom closets throughout the home. The epoxy finished garage with built in cabinets adds extra storage and organization. Enjoy the 3 community pools, including one that is heated, and take in the stunning mountain views from the comfort of your own home. Outdoor enthusiasts will love the proximity to hiking and biking trails, while golfers can tee off at the nearby Ahwatukee Country Club. Ahwatukee is home to award winning schools, upscale dining, cozy cafes, boutique shopping, and a variety of community events. Additional highlights include: -Plantation shutters for timeless elegance and privacy -5 sets of French doors for seamless indoor outdoor living -Located near a scenic walking path and wash If you're looking for a home that offers luxury, comfort, and an unbeatable location, this is it! Don't miss the opportunity to check out this property!

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