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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20362 E Bronco Drive Queen Creek, AZ 85142

Open House

$714,900

3 Beds

2 Baths

1,800 SqFt

Status Active

MLS # 6770422

Property Type Single Family Residence

Price Type --

This is the dream home you've been waiting for in the exclusive Will Rogers Equestrian Ranch community! With over $250K recent high-end upgrades, the owner spared no detail in this meticulously remodeled contemporary masterpiece. The chef's kitchen is a showstopper, featuring custom-designed ShowPlace cabinetry with 42'' high wall cabinets in a chic Heron Plume finish, soft-close hardware, a pie-cut lazy susan, LED lighting, Blanco ''Diamond'' undermount sink and a 36'' x 42'' decorative tapered range hood with a Vent-A-Hood 600 CFM blower. Enjoy brilliant Pental Quartz countertops paired with a designer tile backsplash in the Paloma Picket pattern, new stainless steel appliances, and stunning wood-look tile flooring throughout. The master bath has been elegantly reimagined (see more). with new cabinetry, countertops, sinks, faucets, lighting, and stylish new flooring. The guest bath also boasts a sleek remodel, featuring a tub-to-shower conversion, new cabinetry, and modern finishes. Even the 3-car garage has been revamped with new flooring, cabinetry, and paint. The home is freshly painted inside and out, with custom backyard doors adding to its appeal. Nestled in the heart of Queen Creek, Will Rogers Equestrian Ranch is a one-of-a-kind horse community, complete with a 15-acre equestrian center offering stables, arenas, round pens, and access to scenic trails. Community perks also include a pool, RV parking, sport courts, and a clubhouse, all just minutes from Queen Creek's best shopping, entertainment, and parks. Bring your horses and your toysthis is the dream home you've been searching for! Don't forget to check out the documents tab for a full list of top-of-the-line upgrades!

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15626 N 12th Avenue Phoenix, AZ 85023

New

$714,800

4 Beds

2.5 Baths

2,241 SqFt

Status Active

MLS # 6783981

Property Type Single Family Residence

Price Type --

These Folks DON'T WANT TO SELL, but a job opportunity made this a very hard decision. Items done to this home were done with a ''forever'' home in mind not a flip. What they loved about this home is the Family/ living room split that provides an open floorplan for family and friends to gather. The downstairs primary bedroom gives great privacy for kids & guests with 3 additional bedrms upstairs. The nearly ¼ acre lot has a pool for warmer days and spa and fireplace for cooler nights along with plenty of space for a soccer game or dog, no rear neighbors for privacy. Upgrades include all windows, interior/exterior paint, New electrical outlet, switches & lighting, Primary bath remodel to start. Plz view all pictures and check out the doc tab for a complete list of over $100k in improvemen

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10726 E Tillman Avenue Mesa, AZ 85212

$714,000

2 Beds

2 Baths

2,005 SqFt

Status Active

MLS # 6767264

Property Type Single Family Residence

Price Type --

Highly upgraded home on private oversized corner lot backing to greenbelt in desirable 55+ Encore at Eastmark. Over $150k in upgrades in this flowing floor plan of 2 bedrooms + Den/2 bathrooms with large open great room. Enter through the front gated courtyard with decorative custom iron security gate and enclosures complete with pavers and custom iron/glass front door. Open Den is perfect for an office, reading nook or even a 3rd bedroom. Formal dining room has many options. Gourmet kitchen is full of upgrades including GE Cafe Series appliances, large island with ''Chipped Ice'' Quartz counter tops/back splash and LED lighting under and above the cabinets. No lack of storage in this kitchen! Soft close cabinets and drawers throughout home. Great room has multi-sliding door which opens up into one pane to enter the backyard retreat. Enjoy the sparkling spa and professionally installed putting green while grilling and relaxing. Travertine patio and extensive pavers throughout. View fencing with no neighbors behind, to take in the beautiful Arizona evenings. Low voltage lighting in front/back enhances the property features and security. 8' interior doors and wood look 12x24 tile throughout the home, no carpet. Bathrooms feature quartz counter tops, LED front and backlit dimmable wall mirrors and anti-bacterial fans. Owners suite includes shower with tile surround, walk-in closet and large bedroom with bump out for perfect sitting area. Wi-fi smart thermostat has 3 separate zones, for perfect comfort. Walk-in closet in 2nd bedroom. Garage has top of the line epoxy floor, tankless water heater, stainless steel hand sink, and side entry door. Clubhouse has a vast amount of amenities such as Cafe, classes and activities, fitness center, community pool/spa and much more! Must see to appreciate!!

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11223 N 40th Street Phoenix, AZ 85028

$714,000

3 Beds

3 Baths

1,988 SqFt

Status Active Under Contract

MLS # 6743157

Property Type Single Family Residence

Price Type --

Don't miss your chance to see this stunning, fully renovated 3-bedroom, 3-bathroom home with an office, a sparkling pool, and an exceptional outdoor entertainment area, all located near the highly sought-after Paradise Valley Mall. Cooking enthusiasts will fall in love with the chef's dream kitchen, complete with an induction cooktop and a full outdoor kitchen featuring a wood-fired pizza oven, two gas burners, and a propane grill. Imagine hosting poolside gatherings and inviting friends and neighbors to experience your outdoor oasis. Two expansive panoramic doors open fully, effortlessly blending indoor and outdoor living spaces to create a warm and inviting atmosphere. During the winter, relax in the cozy living room by the crackling fire that fills the room with a warm glow.

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15911 W Montana De Oro Drive Surprise, AZ 85387

$713,891

6 Beds

4 Baths

3,362 SqFt

Status Active

MLS # 6689397

Property Type Single Family Residence

Price Type --

Big Price Correction!!! READY FOR IMMEDIATE OCCUPANCY!! Brand New Home! This 6 br., 4 ba., (4 bed down, 2 up) 3 car garage home has all the designer touches. Truly move in ready. Features include, master BR down, SS appliances,, upgraded kitchen cabinets, deco tile back splash, Plank Vinyl flooring, window blinds, fans in all the rooms, 16' atrium doors, Surround sound, security system, front yard landscaping plus so many more exciting included features - 10' ceilings, 8' doors, Quartz tops in the kitchen, gourmet kitchen, garage service door, tank less water heater, and so much more! 5 Star Resort Style Amenities include, hiking trails, Aquatic Center, 8 select parks, Picnic Ramada's, Basketball, 3 Pickle Ball courts, bocce ball courts, 18 hole disc golf course, and a Zip Line for the kiddos! This home is Energy Star and Indoor Air Plus qualified. Includes full Builder Warranties plus so much More..

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16092 W Questa Drive Surprise, AZ 85387

New

$713,302

3 Beds

2.5 Baths

2,357 SqFt

Status Active

MLS # 6783096

Property Type Single Family Residence

Price Type --

Calling all garage guys!!! 5 1/2 Car Air conditioned garage, The gals will love it too! This Home is finished with all the designer touches. Plank floor tile tru out all the traffic areas. Granite Kitchen Countertops, with Tile Backsplash, SS. Appliances, oversided Spa Shower in the Master Bath! Located on a 8800+ SF homesite. Plenty of room for a pool and garden. Energy Star Qualified Home with all builder warrantees. This Home is Ready for Immediate Occupancy!!! 5 Star Resort Style Amenities include, hiking trails, Aquatic Center, 8 select parks, Picnic Ramada's, Basketball, 3 Pickle Ball & bocce ball courts, 18 hole disc golf course, and a Zip Line for the kiddos! This home is Energy Star and Indoor Air Plus qualified Home. 5 Star Resort Style Amenities include, hiking trails, Aquatic Center, 8 select parks, Picnic Ramada's, Basketball, 3 Pickle Ball courts, bocce ball courts, 18 hole disc golf course, and a Zip Line for the kiddos! This home is Energy Star and Indoor Air Plus qualified. Includes full Builder Warranties plus so much More..

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1945 W Bramble Berry Lane Phoenix, AZ 85085

$713,000

3 Beds

2 Baths

2,044 SqFt

Status Active Under Contract

MLS # 6762042

Property Type Single Family Residence

Price Type --

Welcome to your stunning like-new single story home in North Phoenix! This beauty was just built in May 2024 and includes nearly $90K in builder upgrades. The Barletta model features 3 bedrooms, 2 baths, and a versatile den to offer a spacious open floor plan. The primary bedroom includes a show-stopping walk-in glass shower, double sinks, a private toilet room, and huge walk-in closet. Your chef's kitchen boasts a gas cooktop, deluxe appliances, a walk-in pantry, and quartz countertops. Enjoy indoor-outdoor living with a center slider to the covered patio and premium backyard landscaping. The community center offers a pool, basketball, tennis, pickleball, 2 dog parks and more! The perfect combination of a newly constructed home without builder delays - ready for you to move in and enjoy!

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22886 E Alyssa Road Queen Creek, AZ 85142

$712,990

3 Beds

2.5 Baths

2,451 SqFt

Status Active

MLS # 6742073

Property Type Single Family Residence

Price Type --

Madera at Sultana , Aspen ~newest plan for Ashton Woods, brought to you by Americas largest private builder and builder of the year 2023. Madera allows for quiet living with convenient access to the 24 Freeway and Shopping while providing amazing community ammenities. The Aspen Floor Plan gives you spacious living with an open concept that provides the much needed outside storage for your trailers, toys,shop area in the 4 car supersize garage with rear door. Tankless water heater, 4 panel SGD,double gate, larger lot size in Madera. This home features a gourmet kitchen with built in appliances, extended nook cabinets,36'' gas cooktop, and beautiful shaker cabinetry and quartz counters in the kitchen. The main living areas are styled with 8' interior doors, wood plank tile floors and upgraded carpet, oversized spacious bedrooms, and the primary bathroom features an enlarged tiled shower and separate tub. Cabinet upgrades throughout the home, laundryroom with sink and cabinets. The 4 car supersize with rear access door is a must see garage. Stop by to see the newest master plan community in Queen Creek and newest floor plan.

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9314 S 40th Drive Laveen, AZ 85339

$712,490

4 Beds

3 Baths

3,024 SqFt

Status Active

MLS # 6747454

Property Type Single Family Residence

Price Type --

PHOTOS ARE OF MODEL HOME! Our beautiful Evolution plan features our Home within a Home including a large open great room, and has luxury Platinum features such as Quartz counter tops , Cherry Slate Cabinets and Super Luxury 8 x 36 plank tile flooring. This beautiful home has 4 bedrooms plus a study, 3 baths, 3 car garage. A copy of the public report is available on the Arizona Department of Real Estate's website.

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12613 S 183rd Avenue Goodyear, AZ 85338

$712,000

4 Beds

3 Baths

2,856 SqFt

Status Active

MLS # 6770241

Property Type Single Family Residence

Price Type --

Privacy and Views! This beautiful semi-custom William Ryan home is perfectly situated at the end of a cul-de-sac, offering privacy and stunning views of the Estrella Mountains and Golf Course. Enjoy spectacular sunrises, sunsets, and moonlit nights from the main living space, upstairs loft, or the back balcony and patio. Inside, the home features raised and coffered ceilings, upgraded staggered cabinetry, a marble and tile surround fireplace, updated walk-in primary shower, stainless steel appliances and split floor plan. Thoughtful window placements maximize the views. Enjoy the Estrella lifestyle with two lakes, community centers, state-of-the-art fitness centers and a water park. You must see this in person! Please don't miss the video. Turn up the volume to hear property features.

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2046 N Dayton Street Phoenix, AZ 85006

New

$712,000

3 Beds

3 Baths

1,693 SqFt

Status Active

MLS # 6782162

Property Type Single Family Residence

Price Type --

Check out this trendy 2 bed 2 bath home on a large corner lot in the centrally located Historic Coronado Neighborhood. The main house is 1112 sq ft 2bed 2 bath, guest house studio 581 sq ft. This beautiful home has been completely remodeled to include the detached guest house equipped with 12 ft slider, bathroom, murphy bed, full size refrigerator, & cabinets. Main house kitchen has been updated with quartz countertops, white cafe' appliances, white shaker cabinets, large under-mount black sink, and under & over cabinet lighting. Primary bedroom is stunning, with accent walls, electric fireplace and custom lighting. Walk-in closet includes washer/dryer & linen cabinet. All bathrooms include tiled walk-in showers, tiled floors and gold accents. The backyard is an entertainers delight with new pebble tech party pool with 2 Baja shelves, bench & table. Built in gas BBQ & Firepit. Above ground hot tub, artificial turf and travertine. Other upgrades include, new electrical panel, sub-panel and wiring, underground plumbing to the street completely replaced, both roofs replaced in 2021, tankless water heaters, HVAC's replaced in 2017 & 2022. Too much to list on this one!! This home can be sold turn-key and is perfect for someone looking for a ready to go Airbnb. You cannot beat the location, 7 minutes from the airport and a short 20 minute walk to Downtown Phoenix!!

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1462 E Tiffany Court Gilbert, AZ 85298

Open House

$711,461

5 Beds

3 Baths

2,551 SqFt

Status Active

MLS # 6774770

Property Type Single Family Residence

Price Type --

Exceptional new home in Vireo at Waterston Central, located on a corner cul-de-sac homesite for optimal privacy. The expansive 5-bedroom home boasts designer selections throughout, including a kitchen with a gas cooktop, separate wall oven, microwave, custom backsplash, quartz countertops, and a recycle center. Other features in the home include grey cabinets, upgraded Galeon bath fixtures and accessories, custom ceramic tile shower in the primary bath, cabinets in the laundry room, and metro mission iron maple stair rails. Flooring consists of ceramic tile and upgraded carpet. The home is on a soft water loop system and also includes 8 foot interior doors, structured wiring, and pavers at the driveway.

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