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

28718 N 251st Avenue Wittmann, AZ 85361

$724,000

5 Beds

2 Baths

2,470 SqFt

Status Active

MLS # 6766074

Property Type Single Family Residence

Price Type --

Just the house you've been waiting for. This gorgeous single level 5 bedroom 2 bathroom home is the winner! 1.3 Acres, No HOA, built in 2018 with plenty of room for horses or RV's and only minutes from Surprise and Wickenburg! Features an extended 3-car garage and a block wall surrounding entire parcel. Landscaped with artificial turf in front and backyard for low maintenance living and a paver surround fire pit for family and friend gatherings. Large bedrooms w/ his & her closets in primary bedroom. Highly upgraded with granite counter tops, stainless steel appliances, shutters throughout, tile showers, tile in high traffic areas, laundry room cabinets with sink and so much more! Large concrete pad for RV parking or future RV garage. Don't miss this one, it's sure to impress!

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6114 W Hedgehog Place Phoenix, AZ 85083

$724,000

5 Beds

3 Baths

2,598 SqFt

Status Active

MLS # 6761229

Property Type Single Family Residence

Price Type --

Price Reduced: Welcome to this spacious 5-bedroom, 3-bathroom home, boasting a stunning backyard with a park view, low-maintenance astroturf, and a large heated pool. Perfect for both relaxation and entertaining! One bedroom serves as a convenient mini-suite, ideal for guests or extended family. The home features wood shutters in the family and dining rooms, with faux wood blinds on most other windows. The kitchen offers an island with engineered stone countertops, double ovens, and plenty of space to create your culinary masterpieces. A newer AC unit (installed two years ago) ensures your comfort. This home offers the perfect blend of modern style, comfort, and outdoor beauty!

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7756 E Northland Drive Scottsdale, AZ 85251

Open House

$724,000

2 Beds

2 Baths

1,584 SqFt

Status Active

MLS # 6778849

Property Type Townhouse

Price Type --

Nestled in the highly sought-after historic 55+ Villa Monterey community, newly remodeled, charming townhouse featuring 2 bedrooms, 2 baths, at 1584 square feet. This single level home has been completely updated. Charming residence features an open floor plan with modern finishes and plenty of natural light. The spacious living room flows seamlessly into a gourmet kitchen, complete with stainless steel appliances, quartz countertops, and custom cabinetry. With two well-appointed bedrooms, including a luxurious primary suite with an en-suite bathroom and ample closet space, this home provides comfort and style. You will be stunned at the level of quality that has been introduced to this beautiful home. With one of the largest lots in Villa Monterey, you will be able to enjoy plenty of of outdoor space that is so desired when living in Arizona. Close proximity to world-class shopping and restaurants, and just a short 14 minute drive to Phoenix Sky Harbor Airport, this home truly has it ALL!

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1746 N Harper -- Mesa, AZ 85207

Open House

$724,000

2 Beds

2.5 Baths

1,765 SqFt

Status Active

MLS # 6748792

Property Type Single Family Residence

Price Type --

Discover this sought-after floor plan in the exclusive gated community of Canyon Preserve at Mountain Bridge! Featuring an open great room design, this home offers two spacious bedrooms plus a versatile den, enhanced by elegant wide plank plantation shutters. The modern kitchen boasts high ceilings, sleek cabinetry, and a large center island. The owner's suite includes a private bath with dual sinks. Step outside to your private backyard oasis, complete with a sparkling pool and spa, low-maintenance turf, and a spacious covered patio. Enjoy community amenities like a pool, spa, fitness center, and party room, all while being conveniently located near Saguaro Lake, the Salt River, shopping, and major freeways! Don't miss this opportunity!

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3636 W Summerside Road Laveen, AZ 85339

$722,757

4 Beds

3 Baths

3,129 SqFt

Status Active

MLS # 6774930

Property Type Single Family Residence

Price Type --

Beautiful new home in Whispering Hills, a private community featuring spacious lots, scenic and desert views, and designer homes. This lovely single-story home features an extended dining area as well as an extended primary suite and closet. Other designer features include a frameless walk in shower at the primary bath, French doors at the office, Benton birch sarsaparilla cabinets and Della terra quartz glisten at the kitchen. Upgrades include stainless kitchen and bath faucets and upgraded door hardware and bath lighting.

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6608 N Loma Court Casa Grande, AZ 85194

$722,500

4 Beds

2 Baths

2,444 SqFt

Status Active

MLS # 6777354

Property Type Single Family Residence

Price Type --

This absolutely stunning home is situated on a half acre lot in the highly desirable Chaparral Estates neighborhood. This one is a MUST SEE! The backyard is an entertainers delight with so many upgrades. The landscaping is absolutely stunning with fully fenced block walls, fruit trees, artificial grass, a large covered patio area, extended pergola with pavers and irrigation front and back. It also has an RV gate with a large area to park your Motor Home. The house comes with fully owned solar panels for low utility bills and a beautiful swimming pool with heat pump w/chiller. It comes with 2 separate A/C units for dual zone operation which also helps reduce the utility bills. You don't need to cool the entire house at the same time. This beautiful home has an Iron & Glass front door, vaulted ceilings, split floor plan, 4 bedrooms, 2 baths, quartz countertops, beautiful backsplash, gorgeous custom cabinets, stainless steel appliances, saltless water conditioner and a large 3 car garage. The guest bath comes with dual sinks and a lovely tiled shower/tub. The primary bedroom and bath are a dream come true with a large tiled shower, dual sinks and the whole house is covered with wood-look tile flooring for easy cleanup. The great room is wonderful for entertaining with a beautiful dining area, a large kitchen breakfast bar with gorgeous pendant lighting, stainless steel sink, double pantry and under cabinet lighting. Your RV's, Boats and Toys are welcome so setup your tour as soon as possible. You don't want to miss this one. The Video is a MUST watch.

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3935 Bright Sky Court Wickenburg, AZ 85390

$722,500

2 Beds

2 Baths

1,959 SqFt

Status Active

MLS # 6777567

Property Type Single Family Residence

Price Type --

Welcome to 3935 Bright Sky Ct! This Shea designer home combines elegance and tranquility with 2 beds, 2 baths, and a versatile den,situated on a cul-de-sac with breathtaking desert views.The open floor plan highlights a chef's kitchen with an expansive island, granite countertops, and refined cabinetry, creating a beautiful and functional space for entertaining. Corner sliding glass doors open to the covered patio, complete with pavers, outdoor kitchen and low-maintenance landscaping for effortless outdoor enjoyment. The primary suite offers abundant natural light and a spa-like bathroom with dual vanities and designer tile. A dedicated smart space with a built-in desk in the laundry room adds practical appeal, making this home as functional as it is stylish. Desert living at its finest.

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38065 N Cave Creek Road Unit 40 Cave Creek, AZ 85331

$722,500

3 Beds

3 Baths

2,272 SqFt

Status Active

MLS # 6765479

Property Type Townhouse

Price Type --

Experience the Southwest charm of Cave Creek.This Santa Fe-style townhouse is nestled at the rear of a tranquil, gated community in the heart of town. The two-story unit features a spacious great room complete with a cozy fireplace, a built-in bookcase, and a large bay window that floods the space with natural light. Additional highlights include plank tile flooring, plantation shutters, and fresh interior paint. The eat-in kitchen is equipped with granite countertops, stainless steel appliances, a stylish backsplash, white cabinetry, and recessed lighting. Rare double master bedrooms on split levels with exterior access to patios and decks. The large ensuite bathroom offers a dual sink vanity and storage galore. Each bedroom has plush carpeting, large windows and exterior access. The multi level rooftop deck provides breathtaking 360-degree views from every angle. Easy commute access, close to all amenities, endless outdoor activities and more. You will love it here!

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7699 W Tether Trail Peoria, AZ 85383

$721,990

3 Beds

2.5 Baths

2,495 SqFt

Status Active

MLS # 6714648

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 Modern Desert 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 white 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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1957 W Yellowbird Lane Phoenix, AZ 85085

$721,000

4 Beds

3.5 Baths

2,673 SqFt

Status Active Under Contract

MLS # 6718309

Property Type Single Family Residence

Price Type --

LOCATION, LOCATION. This beautiful family home is conveniently located across from the Fireside Norterra Community Center. The center offers Tennis, Pool, Gym, Rock climbing wall, & playground. Minutes from fabulous shopping & restaurants. This home offers 4 Bedrooms, plus a Den, 3.5 bathrooms, upstairs Bonus Room, Great Room floor plan that opens to expansive Kitchen with large Island & bar seating. Downstairs Primary Suite has large shower & dual sinks. Great Room sliders open up to your Backyard Oasis with upgraded travertine pavers, custom built-in BBQ, turf, above ground spa, & open views to greenbelt behind property. This property is ready & waiting to be your home!!

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727 E Citrus Hollow Way Queen Creek, AZ 85140

$720,731

2 Beds

2 Baths

1,928 SqFt

Status Active

MLS # 6567515

Property Type Single Family Residence

Price Type --

The heart of this Nice model home is the stunning gourmet kitchen, featuring sleek white cabinets that complement the contrasting black quartz countertops flawlessly. The spacious kitchen island offers both functional workspace and a stylish centerpiece for entertaining guests or enjoying casual meals. The blonde tile flooring throughout adds a touch of warmth and complements the bright and airy ambiance, creating a seamless flow from room to room. The contemporary design elements combine to create a space that is as visually striking as it is inviting. Prepare to be amazed by the rolling wall of glass, blurring the lines between indoors and outdoors, and allowing natural light to flood the living spaces. Huge rolling wall of glass, exterior fireplace, landscaping and so much more!

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20663 E Avenida Del Valle -- Queen Creek, AZ 85142

$720,241

6 Beds

4.5 Baths

3,601 SqFt

Status Active

MLS # 6774329

Property Type Single Family Residence

Price Type --

MLS#6774329 January 2025 Completion. The Lewiston is a spacious 2-story floor plan, offering 3,601 sq. ft. of living space with 6 bedrooms, 4.5 bathrooms, a 2-car garage, formal dining, a study, a drop zone, and a versatile loft. As the second-largest home in our Landmark Collection at Ellsworth Ranch, it's designed to impress. The foyer opens to the study and formal dining room, which seamlessly flow into the open-concept kitchen, great room, and a secondary dining area. Just off the great room, you'll find a guest bedroom with its own private bath. Upstairs, the primary suite awaits along with 4 additional bedrooms, 3 bathrooms, and a loft. The primary bathroom features dual vanities with a convenient knee space, allowing two people to comfortably prepare for the day. A spacious walk-in closet ensures ample storage. The laundry room is also located upstairs, offering the convenience of not having to go up and down the stairs. This home is designed to fall in love with! Structural options include: 6th bedroom and bath, doors at study, rainshower head at primary shower.

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