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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

2949 E Lawndale Court Gilbert, AZ 85298

$733,990

5 Beds

3.5 Baths

2,938 SqFt

Status Active

MLS # 6780539

Property Type Single Family Residence

Price Type --

This home combines functionality and comfort with an open floor plan, featuring 9-ft. first-floor ceilings and a large great room that leads to a south-facing, extended covered patio. Vinyl plank flooring spans the first-level common areas, while plush carpeting adds warmth and comfort upstairs. The gourmet kitchen boasts sleek quartz countertops, a walk-in pantry, and stainless-steel appliances, including a built-in wall oven and gas cooktop. A versatile den offers flexibility, easily converting into a home office, game room, or formal dining area. This level also includes a bedroom and full bath, ideal for guests. Please note: The images shown are of a comparable home with the same floorplan, though finishes and details may differ.

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44624 N 44th Drive New River, AZ 85087

Open House

$733,919

4 Beds

2.5 Baths

2,745 SqFt

Status Active

MLS # 6756301

Property Type Single Family Residence

Price Type --

Welcome home to the popular Martina floorplan. This home welcomes you with an inviting courtyard, inside you'll find a split floorplan with 3 generously sized secondary bedrooms and walk in closets, a retreat in nestled in between these secondary bedrooms to use as an office, den, playroom or second living space. This home is architecturally upgraded with a gourmet kitchen, owners bath oasis featuring a drop in soaking tub, and a 12 foot center sliding glass door drawing you into the backyard. Designer features create a clean and timeless feel, such as warm wood plank tile flooring, neutral light gray colored cabinets, bright white subway backsplash and quartz countertops to finish off this highly upgraded home.

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23612 W Beacon Lane Wittmann, AZ 85361

$733,000

4 Beds

3 Baths

2,566 SqFt

Status Active

MLS # 6747858

Property Type Single Family Residence

Price Type --

NEW LOWER PRICE! Don't spend money on homes not landscaped. This one is fully landscaped with Large Tack Room. Bring your Horses and/or Big Boy Toys. Plenty of Room with a 1.003 Acre Lot. Complete with Landscaped Yards, Lush Mature Trees, Green Grassy Area, Tack Room Full Electric with 2 Entries 1 Being a Garage Door, Plenty of Storage with a Loft. Side and Front Covers. Horse Corral with Shade Cover, Exercise Arena(Turn-Out), Fully Enclosed Double Fenced Backyard with Owner's Separate Private Fence. This Gorgeous Home has been Meticulously Cared For by the Owner's. Features Include, Oversized 3 Car Garage, Spacious Open Split Floorplan, Large Island Kitchen, Granite Counters, Vaulted Ceilings, Tall Doorways, Wide Entry Door, Mountain Views Front and Back. Beautiful Ceramic Tile, Large Great Room.

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25018 S Rangewood Drive Sun Lakes, AZ 85248

$732,000

4 Beds

3 Baths

3,435 SqFt

Status Active

MLS # 6774622

Property Type Single Family Residence

Price Type --

Unique two-story Marbella with split floor plan, Master and secondary bedroom with a full bath downstairs, 2 bedrooms and a full bath on the upper level provide a completely separate and private guest area, perfect for grandkids visits, home office, craft rooms, etc. Formal living and dining, separate office & oversized open kitchen. Features builder & custom upgrades including plantation shutters and solid wood cabinets throughout. Extended 3-car Garage with epoxy flooring, plenty of storage and cabinets. Water softener and R/O system and a large laundry room with lots of cabinets. Very peaceful and private backyard with above ground spa and no neighbors behind it.

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11107 E Ulysses Avenue Mesa, AZ 85212

$730,995

4 Beds

3 Baths

2,936 SqFt

Status Active

MLS # 6761840

Property Type Single Family Residence

Price Type --

This beautiful Upland Spanish-style home features 4 bedrooms and 3 baths, perfect for families or those who love to entertain. The upgraded kitchen boasts elegant cabinets, a stunning countertop, a modern kitchen sink, and stainless-steel appliances. You'll appreciate the beautiful flooring throughout, including luxury vinyl plank downstairs, upgraded carpet in the bedrooms and upstairs, and stylish tile in all bathrooms and the laundry room. The primary bathroom offers a luxurious retreat with upgraded tile flooring and a beautifully tiled shower. Situated on a quiet back street, this home is just around the corner from community parks and amenities, providing both tranquility and convenience. Don't miss the chance to make this stunning home yours!

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7684 W Tether Trail Peoria, AZ 85383

$730,990

3 Beds

2.5 Baths

2,495 SqFt

Status Active

MLS # 6731530

Property Type Single Family Residence

Price Type --

Welcome to Ashton Woods newest community in Peoria -The Sanctuary at Aloravita. This 2,495 Topaz floorplan features a Craftsman elevation and includes 3 bedrooms, 2.5 baths, and a 3-car tandem garage. The massive kitchen island is perfect for family and friends to gather as it opens to the home's great room for easy entertaining. The kitchen includes stainless steel appliances with a gas cooktop, large undermount sink, beautiful charcoal stain shaker style cabinets, cabinet hood, quartz countertops, and a must see Butler's Pantry. Other features include, 8' interior doors, wood plank floor tile, upgraded carpet/pad, and a soft-water loop in the 3-car tandem garage.

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16708 E Gloria Lane Scottsdale, AZ 85262

$730,900

4 Beds

3 Baths

3,025 SqFt

Status Active

MLS # 6374360

Property Type Single Family Residence

Price Type --

**COMPLETED SPEC**4 BEDROOM, 3 BATH HAS 3025 SQFT, HUGE OPEN KITCHEN WITH UPGRADED CABINETS, HUGE ISLAND, GRANITE COUNTER TOPS WITH TILE BACK SPLASH, STAINLESS STEEL APPLIANCES (DOUBLE WALL OVENS, 36'' COOKTOP, BUILT IN MICROWAVE, DISHWASHER AND FARMER SINK AND A WALK IN PANTRY. OPEN GREAT ROOM WITH GAS FIREPLACE WITH STONE. UPGRADED TILE FLOORING IN ALL THE RIGHT PLACES. THERE IS A FRONT AND REAR COVERED PATIO, 2X6 CONSTRUCTION, TILE ROOF, LOW-E DUAL PANE VINYL FRAME WINDOWS, OVERSIZE 4 CAR GARAGE.

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44628 N 44th Drive New River, AZ 85087

$730,077

4 Beds

2.5 Baths

2,745 SqFt

Status Active

MLS # 6756307

Property Type Single Family Residence

Price Type --

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29408 N 224th Drive Wittmann, AZ 85361

$730,000

3 Beds

2.5 Baths

2,526 SqFt

Status Active

MLS # 6691446

Property Type Single Family Residence

Price Type --

FINAL OPPORUNITY! FINANCE INCENTIVES RATE BUYDOWN! JUST UNDER ONE-ACRE! NEW HOME, MOVE IN READY! 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, huge 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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11054 E Utopia Avenue Mesa, AZ 85212

Open House

$730,000

6 Beds

4.5 Baths

3,133 SqFt

Status Active

MLS # 6771303

Property Type Single Family Residence

Price Type --

Discover elegance in this 2023 Toll Brothers home with 6 bedrooms and 5 bathrooms. Spanning 3133 sq ft, it features a first-floor in-law suite and primary suite, perfect for multi-generational living. The gourmet kitchen boasts quartz countertops, a stylish backsplash, a gas range, and a walk-in pantry. An upstairs loft offers versatile living space. The landscaped, pet-friendly backyard includes antimicrobial turf, mini putting green and an upgraded panoramic slider for seamless indoor-outdoor living. With $78k in premium upgrades, this home offers luxury without the hassle of building from scratch. Book your tour today!

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31033 N Trail Dust Drive San Tan Valley, AZ 85143

$730,000

3 Beds

2.5 Baths

2,818 SqFt

Status Active

MLS # 6749177

Property Type Single Family Residence

Price Type --

Welcome to 31033 N TRAIL DUST DR, your own slice of paradise nestled in the heart of the picturesque Johnson Ranch community, where luxury meets tranquility. This stunning 3-bedroom, 2.5-bath retreat is perfectly positioned on a quiet cul-de-sac overlooking the 10th hole of the San Tan Highland golf course, framed by the majestic San Tan Mountain foothills - and with your own putting green! Enter through elegant double doors into an expansive living space where every detail whispers sophisticationfrom the formal living and dining rooms to the cozy family room that seamlessly connects to the kitchen and nook. The chef's kitchen is a culinary delight, boasting custom tile backsplash, granite countertops, and an abundance of storage. Step outside to an entertainer's dream: a private, self-cleaning pool with a captivating rock waterfall, an extended pergola patio for al fresco dining, an inviting outdoor fireplace, and a putting green to perfect your game. The oversized primary suite offers a sanctuary of comfort with custom-designed California closets and a spa-inspired bath, while the home's thoughtful upgrades, including two new SEER16 HVAC units, a new roof with underlay (2022), soft water and reverse osmosis systems, and additional insulation, ensure effortless living. Experience the epitome of refined elegance and modern comfort in this exceptional San Tan Valley hometruly a must-see!

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96 E Alcatara Avenue Queen Creek, AZ 85140

$730,000

3 Beds

3 Baths

2,343 SqFt

Status Active

MLS # 6732348

Property Type Single Family Residence

Price Type --

Experience luxury living in this stunning 3-bedroom home with a versatile den, ideally situated on a sought-after corner lot. The property features low-maintenance landscaping and a spacious 2-car garage with a split-unit air conditioning system and fully insulated for added comfort. Inside, you'll be welcomed by an open floor plan with soaring ceilings, contemporary light fixtures, and pristine tile flooring throughout. The gourmet kitchen is a chef's dream, showcasing granite countertops, custom cabinets with elegant crown molding, stainless steel appliances, a handy pantry, and a center island perfect for meal prep and casual dining. The den provides a flexible space, ideal for a home office. The primary bedroom is bathed in natural light and includes an ensuite bathroom with a dual sink vanity, a makeup station, and an expansive walk-in closet. A secondary bedroom, tucked away for privacy, features its own ensuite bathroom, making it perfect for guests or as a secondary master suite. Step outside to your private backyard oasis, complete with a covered patio and built-in BBQ area, perfect for entertaining or unwinding. Additional highlights include tinted windows on the west side and front bedroom for sun protection, and a salt-free H2O water treatment system for superior water quality. This home is a true gem and a must-see!

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