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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49011 N 7th Avenue New River, AZ 85087

$720,000

6 Beds

3 Baths

2,758 SqFt

Status Active

MLS # 6735916

Property Type Single Family Residence

Price Type --

Looking for income potential? 2 distinct residences, both offering private patios and unlimited space. Or...keep your family/parents/kids close! If you've grown tired of looking at all the same territorial style homes, this is your beautiful chunk of turquoise in that boring desert of houses! Homesteaders, are you looking for that vintage, farm house style that is also multigenerational? Your search is over! Perfectly situated on a little over an acre of land, everything about this home was made with great thought to detail for optimal space usage while capturing phenomenal mountain views. Main home, 1727 sq ft, is three bedrooms, 1.75 bathrooms, wood flooring in living room, dining, office & hall, large laundry/mud room/pantry plus private entrance gym or bonus room. Permitted Second residence, 1032 sq ft, is three bedrooms, 3/4 bath with custom walk-in shower. Chevron Butcher Block counter, stained concrete floors finish the farm house theme. Both homes are equipped with an RO system. Parking will be a breeze with all the designated parking areas for your family/friend gatherings. All of the extras that make both of these homes both classic and cowboy chic! From the covered patios to the free standing deck and outdoor BBQ & bar area,every detail was designed to embrace your gatherings. Privacy fenced storage areas, 3 sheds, works shop and a huge 34X24 garage completes this rare find. Lush desert landscaping for easy maintenance, No HOA's so bring those toys and horses. Get out the city and embrace peace and endless star gazing again, Welcome Home!

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21147 W Hillcrest Boulevard Buckeye, AZ 85396

$720,000

3 Beds

3 Baths

2,519 SqFt

Status Active

MLS # 6747757

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Verrado! This exquisite single-level residence, featuring custom finishes throughout, offers both elegance & functionality. With 3 spacious bedrooms, a versatile den, & 3 luxurious bathrooms, this home is designed for comfort & style. The inviting gourmet kitchen boasts top-of-the-line appliances, granite counters, a gas stove & giant walk-in pantry. The open living areas are enhanced by 12-foot ceilings & stylish plantation shutters, adding a touch of sophistication & maximizing natural light. The split master bedroom suite provides ultimate privacy, with a spa-like master bath showcasing his-&-her sinks, a large hidden step-in shower, & a generous walk-in closet. Step outside to discover a no-maintenance backyard designed for relaxation & enjoyment... Welcome to your dream home in Verrado! This exquisite single-level residence, featuring custom finishes throughout, offers both elegance & functionality. With 3 spacious bedrooms, a versatile den, & 3 luxurious bathrooms, this home is designed for comfort & style. The inviting gourmet kitchen boasts top-of-the-line appliances, granite counters, a gas stove & giant walk-in pantry. The open living areas are enhanced by 12-foot ceilings & stylish plantation shutters, adding a touch of sophistication & maximizing natural light. The split master bedroom suite provides ultimate privacy, with a spa-like master bathroom showcasing his-&-her sinks, a huge tiled snail shower, & a generous walk-in closet. Step outside to discover a no-maintenance backyard designed for relaxation & enjoyment. Featuring lush turf, a raised deck , & hot tub readiness with pre-installed electrical, this space is perfect for both entertaining & unwinding. The backyard is also plumbed for gas that feeds the resort style fire feature and BBQ, making outdoor cooking a breeze. Enjoy breathtaking views & an unparalleled location with a private park right across the street & sought-after hiking trails, Victory stairs, and Victory Golf course just a short walk away. The home is in the Highlands area that is at the base of the White Tank Mountains. Verrado has 3 pools, newly remodel Gym and several community activities like the weekly farmers market for residents. Additionally, this property offers a unique financial benefit: an assumable VA loan, providing an excellent opportunity for those qualified buyers. Come see this home today and make it yours!

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1431 S Wayne Drive Chandler, AZ 85286

$720,000

4 Beds

3 Baths

2,669 SqFt

Status Active

MLS # 6753818

Property Type Single Family Residence

Price Type --

The search is finally over! Take a look at this gorgeous 4 bed, 3 bath residence showcasing spacious 3-car garage in Arizona Estates! Inside, you will find a bright living/dining area featuring bountiful natural light, soothing palette, wood-look floors, & recessed lighting. The stunning kitchen boasts a plethora of white shaker cabinets, stylish light fixtures, granite counters/backsplash, black SS appliances, a walk-in pantry, & a peninsula with a breakfast bar. Fabulous loft is perfect for an entertainment area! Main bedroom enjoys a lavish ensuite with dual sinks, soaking tub, & a walk-in closet. Spend relaxing afternoons in the wonderful backyard with extended seating area, green grass, & endless blue skies. You must see it! Owned Solar! The search is finally over! Take a look at this gorgeous 4 bed, 3 bath residence showcasing spacious 3-car garage in Arizona Estates! Inside, you will find a bright living/dining area featuring bountiful natural light, soothing palette, wood-look floors, & recessed lighting. The stunning kitchen boasts a plethora of white shaker cabinets, stylish light fixtures, granite counters/backsplash, black SS appliances, a walk-in pantry, & a peninsula with a breakfast bar. Fabulous loft is perfect for an entertainment area! Main bedroom enjoys a lavish ensuite with dual sinks, soaking tub, & a walk-in closet. Spend relaxing afternoons in the wonderful backyard with extended seating area, green grass, & endless blue skies. You must see it! Owned Solar!1

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21408 S 224th Place Queen Creek, AZ 85142

$720,000

4 Beds

2.5 Baths

2,423 SqFt

Status Active

MLS # 6759995

Property Type Single Family Residence

Price Type --

Built in 2020 by Richmond American Homes, the Deacon floor plan offers 3 bedrooms, a versatile den or office space with doors for added privacy, and 2.5 bathrooms. The open-concept design is further elevated by beautiful upgrades and finishes throughout, creating a bright and welcoming space. This stunning home has been meticulously maintained and is truly move-in ready! Out back, you'll love the low-maintenance turf landscaping, perfect for easy upkeep. For those with extra toys, the attached spacious RV garage provides all the storage you need. This home is located in the highly sought-after Spur Cross community, where residents enjoy fantastic amenities such as a community pool, basketball court, beach volleyball court, and playgrounds. With ample storage and a prime location just minutes from Queen Creek's top amenities and attractions, this home is the ultimate basecamp for all your Arizona adventures. Don't miss out!

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16112 E Carmel Drive Fountain Hills, AZ 85268

$720,000

3 Beds

2 Baths

1,817 SqFt

Status Active

MLS # 6768968

Property Type Single Family Residence

Price Type --

STUNNING VIEWS!!! This fully renovated home offers the perfect blend of luxury and comfort. Inside, you'll find an open-concept living space with brand new features like AC, cabinets, stainless steel appliances, and a cozy fireplace. Step outside to your private pool oasis, complete with a new patio deck. High-quality finishes throughout, including tile and marble floors, quartz countertops, and new doors and windows, create a sophisticated and inviting atmosphere. This energy-efficient home is not only beautiful but also practical. Enjoy the convenience of a new 2-car garage with epoxy floors and a freshly painted interior. With a stunning pergola adding a touch of elegance, this move-in-ready masterpiece is a must-see.

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20750 N 87th Street Unit 2011 Scottsdale, AZ 85255

$720,000

3 Beds

2 Baths

1,825 SqFt

Status Active

MLS # 6772543

Property Type Townhouse

Price Type --

Luxury living at Encore at Grayhawk. This property features a spacious open floor plan with a large kitchen with stainless steel appliances and a breakfast bar, all open to a great room with gas fireplace, large windows and an exit to a spacious north facing balcony with mountain views, and featuring a separate dining room ideal for entertaining. The split floor plan offers the primary suite privacy and boast mountain views, balcony access, a large walk-in closet and well appointed full bath. The fantastic location is just steps from golf, dining, shopping, hiking, and events. This gated community offers resort amenities such as pool, spa and fitness room so you can enjoy a relaxing lifestyle.

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4590 Fletcher Court Wickenburg, AZ 85390

$720,000

2 Beds

2.5 Baths

2,109 SqFt

Status Active Under Contract

MLS # 6738238

Property Type Single Family Residence

Price Type --

You have to see this Home! This highly desirable Brasada model located in the Premier Golf Community of Wickenburg Ranch is packed with impressive upgrades & designer features. This luxurious home is an entertainers dream. Positioned high on a cul-de-sac lot with breathtaking views. You will enjoy the Mountain View's from every room of this home! Easy care landscape leaves you time to do all the fun activities that WR has to offer. Beautiful gourmet kitchen with a serving pantry is just the beginning. It all starts with a grand entry leading you to the great room with a glass wall of doors that opens to the outdoor living space. The outdoor area features electric shades that will enclose this area completely. Remote controlled window treatments continue throughout home. The additional living space includes a Den, an office space off of the kitchen, huge laundry area with additional storage, a custom built primary closet & stunning spa-like bath. The garage offers built in storage & is climate controlled with a mini split A/C. You will also enjoy the whole house water filtration system, upgraded appliances, incredible granite countertops and designer lighting throughout out this gorgeous home.

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4858 E Shady Glen Avenue Scottsdale, AZ 85254

$720,000

3 Beds

2.5 Baths

1,832 SqFt

Status Active Under Contract

MLS # 6764373

Property Type Single Family Residence

Price Type --

This gorgeous Arabella home features 3 bedrooms, 2.5 bathrooms, and a 2-car garage. The stunning great room offers a seamless flow between living & dining areas. The gourmet kitchen boasts high-end stainless steel appliances, quartz countertops, RO system, a stylish tile backsplash, gorgeous wood cabinetry, and a breakfast bar. The main bedroom includes an ensuite bathroom with dual sinks, upgraded marble countertops, glass wall shower, a walk-in closet, and convenient access to the adjacent laundry room. Outdoor features of this home include a well shaded north facing covered patio accompanied by a low maintenance heat resistant turf backyard perfect for your pets.

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4067 S White Drive Chandler, AZ 85249

Open House

$720,000

3 Beds

2 Baths

2,363 SqFt

Status Active

MLS # 6769766

Property Type Single Family Residence

Price Type --

Highly sought-after lake community of Old Stone Ranch! This stunning home features 3 bd, 2.5 bath, den, plus bonus room. The gourmet kitchen is a chef's dream, featuring granite countertops, a large island with ample storage, and a breakfast bar. The open layout flows seamlessly into the living area, providing the perfect space for gatherings and family time. The spacious primary suite is your personal retreat, featuring a separate tub and shower, double sinks, and a walk-in closet. Two additional bedrooms, along with a versatile den and bonus room, offer flexibility for a home office, gym, or guest space. Oversized backyard, complete with sparkling pool/spa, large covered patio, built in BBQ, and low-maintenance turf are ideal for outdoor entertaining. Three car garage provides ample storage and parking. Stunning community features include greenbelts, walking paths, picket fences, waterfalls, just to name a few. Prime location near excellent parks, shopping, dining, and schools are additional highlights to this wonderful home. Don't miss the chance to make this exceptional home in a desirable lake community your own.

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1797 S Wallrade Lane Gilbert, AZ 85295

Open House

New

$720,000

4 Beds

3.5 Baths

2,518 SqFt

Status Active

MLS # 6783230

Property Type Single Family Residence

Price Type --

Welcome to this beautifully designed 4-bedroom, 3.5-bathroom home, offering 2,518 sq. ft. of modern living space in a highly desirable community. As you step inside, you'll find an open and spacious layout that perfectly blends the kitchen, family room, and formal dining areas, making it ideal for both family living and entertaining. The gourmet kitchen features a 5-burner gas cooktop, built-in microwave and oven, reverse osmosis water system, and stainless steel refrigerator—perfect for culinary enthusiasts. The main level also boasts a guest bedroom with an ensuite bathroom for added convenience, and a versatile formal dining or sitting room. Upstairs, you'll discover a cozy loft, an upstairs laundry room for added ease, and three additional bedrooms, including a luxurious primary suite with a walk-in closet, walk-in shower, and dual vanities. The secondary upstairs bathroom also features dual vanities and upgraded tile finishes. Additional highlights include a garage equipped with an electric vehicle charging station and built-in cabinets for extra storage. The low-maintenance backyard is beautifully landscaped with artificial turf and mature plants, providing a private outdoor space to relax. Located just steps from the community pool and close to the vibrant Verde Cooley Station and Epicenter, this home provides convenient access to popular dining options like Buck and Rider, Belly Kitchen & Bar, and Matt's Big Breakfast. With nearby shopping, entertainment, and easy access to Loop 202, you'll enjoy both a luxurious lifestyle and effortless convenience!

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1533 W Flower Circle Phoenix, AZ 85015

$719,995

3 Beds

3.5 Baths

2,375 SqFt

Status Active

MLS # 6749592

Property Type Single Family Residence

Price Type --

Fall in love with the highly sought after ICONIC ''inner circle'' of the North Encanto Historical district. This beautiful 40's ranch style home has been remodeled from the inside out! This charming property gives you a 3 bed 3.5 bath, two living spaces and a garage. The spacious backyard is perfect for outdoor activities. The property also includes 2 carport spaces. Make this historical house your new home.

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7669 W Tether Trail Peoria, AZ 85383

$719,990

3 Beds

2.5 Baths

2,197 SqFt

Status Active

MLS # 6749324

Property Type Single Family Residence

Price Type --

Welcome to Ashton Woods newest community in Peoria -The Sanctuary at Aloravita. This 2,197 Ruby floorplan features a Spanish style elevation and includes 3 bedrooms, 2.5 baths, a den, plus an RV garage. The impressive 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, under cabinet hood, beautiful painted shaker style cabinets with crown molding, quartz countertops, kitchen backsplash, and large pantry. The great room offers a 4 panel center sliding glass door so you can step out into your covered patio to enjoy indoor/outdoor living in your backyard with friends and family. Other features include, 8' interior doors, 6x36 wood plank style floor tile, upgraded carpet/pad, a soft-water loop, and much more! This home also includes an RV garage, perfect for an RV or a car enthusiast! Great location close to dining, freeways, parks, and entertainment!

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