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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3331 W Hemingway Lane Anthem, AZ 85086

$710,000

4 Beds

4 Baths

3,366 SqFt

Status Active

MLS # 6771562

Property Type Single Family Residence

Price Type --

Welcome to Anthem living at it's finest! This 4bed+Den/4bath/3,366 sqft home has everything you need! Upon entering, you're greeted by soaring ceilings & warm neutral tones. Celebrate holiday cooking in the updated kitchen which blends contemporary style w/ modern farmhouse finishes. The pool is ready for the last days of summer & the gas fireplace is primed for those upcoming cool winter nights. Fresh carpet upstairs & all three guest bedrooms conveniently have access to their own bathrooms. Turn the loft into your perfect game or theatre room. Anthem offers a community center w/ gym, indoor/outdoor basketball, pickleball, rock climbing wall, water park, three fishing lakes, skate park..the list goes on. Don't miss your chance to own your dream house in your dream neighborhood!

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2824 E Santa Fe Court Gilbert, AZ 85297

$710,000

4 Beds

2.5 Baths

2,446 SqFt

Status Active

MLS # 6772843

Property Type Single Family Residence

Price Type --

Immerse yourself in the comfort of this stunning, impeccably maintained four-bedroom, 2.5-bathroom residence. Located on a quiet cul-de-sac and freshly painted in neutral hues, it creates the perfect canvas for your personal touch. The heart of the home, an upgraded kitchen, is a culinary dream with extended cabinets, a spacious pantry, and ample counter space. The open floor plan flows naturally into the living area. It offers the perfect amount of space for enjoying your favorite show or entertaining with friends. The home's thoughtful split floor plan ensures your privacy, placing the expansive primary suite away from the other three bedrooms. The spacious den/playroom is also set apart from the main living area, offering flexibility

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9515 E Rainbow Avenue Mesa, AZ 85212

$710,000

4 Beds

3 Baths

2,236 SqFt

Status Active

MLS # 6775615

Property Type Single Family Residence

Price Type --

Experience Exceptional Living in Eastmark, Mesa's Premier Community. This stunning single-story residence features 4 bedrooms, 3 bathrooms, and 2,236 sqft of thoughtfully designed, open-concept living space. The dining and living areas both offer seamless transitions to the patio through large sliding glass doors, flooding the home with natural light and creating a spacious, welcoming atmosphere. Situated on a prime 8,456 sqft corner lot, the property provides ample outdoor space and privacy. At the heart of the home is the gourmet kitchen, showcasing white shaker cabinets, elegant pendant lighting, a wall oven, gas cooktop, and an oversized island, ideal for both casual meals and entertaining guests. The design extends throughout with sleek, long hallways and a functional mudroom, all without carpet, ensuring easy maintenance and a clean aesthetic. This home is move-in ready, fully equipped with a washer, dryer, and refrigerator, offering a seamless transition for the new homeowner. As part of the highly sought-after Eastmark community, you'll enjoy access to award-winning schools, lush parks, a vibrant community center, and proximity to major employers and amenities. Don't miss the opportunity to experience the best of Eastmark living.

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1835 E Joy Ranch Road Phoenix, AZ 85086

$710,000

3 Beds

2 Baths

1,635 SqFt

Status Active Under Contract

MLS # 6710667

Property Type Single Family Residence

Price Type --

Assumable 4.75% loan w/ this horse property on a fully fenced 1.25 acre lot w/mountain views. Voted BEST ON TOUR for the desert hills area. This North facing, true split floor plan 3 bed & 2 bath home boasts vaulted ceilings, updated kitchen, freshly remodeled bathrooms, new interior paint, new tile flooring, Water heater & RO System & 3-Stage whole house water filtration System. The kitchen has SS appliances, granite countertops, abundant cabinetry & overlooks the great room, tons of natural light & an oversized dining area. Every inch of this home exudes comfort & style. Outside, discover the covered patios, 6- 12x12 horse mare motel, arena, tack room/shop & RV parking w/50 amp connection. NO HOA! Steps away from state preserve land. Don't miss this opportunity to own piece of land!

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7120 E Kierland Boulevard Unit 412 Scottsdale, AZ 85254

$710,000

1 Bed

1 Bath

727 SqFt

Status Active Under Contract

MLS # 6722977

Property Type Apartment

Price Type --

Rare West-facing 1 bed, 1 bath on 71st St offers picturesque views and privacy with impressive upgrades including: Motorized Shades, Italian crafted cabinetry, Bosch appliances, Kohler fixtures, Reverse Osmosis, Granite Counters, 9FT floor to ceiling glass windows, 125 SQ FT covered patio with gas stub. Includes secure Garage Parking Space with EV Charger. Come live the Ultimate Urban Luxury Lifestyle at Optima Kierland. Resort style living at its finest with world class amenities including fitness center, yoga studio, steam rooms, spas, cold plunge, basketball, pickle ball & squash courts. Massage, party/theatre room, 25yd heated & cooled Skydeck pool, towel service, table tennis, golf simulator, fire pits, BBQs, bocce ball, pool table and doggie park. It doesnt get any better than this!

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1572 W Chicago Street Chandler, AZ 85224

$710,000

4 Beds

2 Baths

2,313 SqFt

Status Active Under Contract

MLS # 6753393

Property Type Single Family Residence

Price Type --

Price Reduced! Come home to your own resort, located in the heart of Chandler. Minutes from the 101, 202 and the US60, 20 min drive to either airport,& less than 2 miles to Chandler Mall or Downtown Chandler. Walking distance to Chandler YMCA. local grocery stores, Chandler Regional Hospital blocks away, many medical offices, all major employers in Chandler. This great family 4 bedroom, 2 bath home, sits on the largest lot in the subdivision, and has been lovingly remodeled by the same licensed Master Craftsman on all projects. The attention to detail is obvious throughout. The kitchen remodeled Jan. 2023 and boasts New Custom Cabinets with soft close drawers/doors. Pull out shelves in lower cabinets. Butcher Block Island Counter Top with Quartz Countertops on rest. SEE MORE..... A fully permitted 413 sq ft great room is a fantastic addition to your entertainment areas and Double Glass French Doors opens onto a very expansive patio and pool deck with fenced in pebble tec pool/spa resurfaced 2022. The large lot wraps around the home features a citrus orchard with lemon, two kinds of orange and grapefruit trees. Smaller patios off the family room and the Master bedroom add to your outdoor living experience. For pet owners the addition of a doggy wash/potting station with Hot and Cold running water is a must! Lot is landscaped with flowering trees, shrubs and palms, creating a secret garden for your enjoyment. Located on a cul de sac lot with only one story homes as your neighbors, gives you the privacy you crave. Many improvements recently! See Attached Improvements/Remodeled and Does not Convey List in Documents Tab. Installed new roof and fresh interior paint through out July 2024. Become only the third owner of this much-loved home. It won't last long!

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3055 E Austin Drive Gilbert, AZ 85296

$710,000

3 Beds

2 Baths

1,924 SqFt

Status Active Under Contract

MLS # 6764794

Property Type Single Family Residence

Price Type --

This upgraded 3-bedroom, 2-bathroom home with a den offers 1,924 sq. ft. of comfortable living space in the desirable Morrison Ranch community. With a split floor plan, neutral paint colors, and quality finishes throughout, including a custom fireplace and gourmet kitchen appliances, this home is both stylish and functional. The primary suite features an updated walk-in shower and a custom California closet, offering both luxury and practicality. The low-maintenance backyard, featuring finished turf and pavers, provides a perfect space for relaxation and outdoor gatherings. Located in Morrison Ranch, you'll enjoy walking trails, fishing lakes, and the convenience of being near the new EpicCenter. Plenty of shopping and dining options just minutes away.

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9324 W Coolidge Street Phoenix, AZ 85037

$709,999

6 Beds

6.5 Baths

3,949 SqFt

Status Active

MLS # 6729765

Property Type Single Family Residence

Price Type --

Welcome to your upgraded and spacious dream home, boasting 6 bedrooms and 6.5 bathrooms. This property is currently a successful Airbnb, offering an incredible investment opportunity. **Key Features:** - **Newly Renovated Kitchen:** Enjoy cooking in a gourmet chef's kitchen with brand new appliances, granite counters, and an oversized granite island. - **Modern Flooring:** Brand new tiled flooring throughout the home, providing a sleek and contemporary feel. - **En Suite Bathrooms:** Each bedroom comes with its own dedicated en suite bathroom, ensuring privacy and convenience for all residents. One bedroom even includes a living room, making it perfect for guests or extended family. - **Main Bedroom:** The main bedroom, located on the first floor, features an en suite bathroom for easy accessibility. - **Outdoor Oasis:** The backyard is newly paved with turf, creating a low-maintenance and water-conscious space. The upstairs balcony, which can be accessed from two bedrooms, has been newly renovated, offering a great place to relax and enjoy the views. - **Recent Upgrades:** The home has a brand new roof and was painted in 2022. Fresh paint inside and out ensures a move-in-ready experience. - **Prime Location:** Located just five minutes from the State Farm Stadium and the new hotels being built in Glendale, this home is perfectly positioned to generate consistent Airbnb income. - **Eco-Friendly Yard:** The backyard is equipped with a new irrigation system, trees, and pavers, making it both beautiful and environmentally friendly.

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15156 W Las Brizas Lane Sun City West, AZ 85375

$709,999

3 Beds

2.5 Baths

2,265 SqFt

Status Active

MLS # 6757906

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Sun City West! This stunning 3-bedroom, 2.5-bathroom residence with a den is a true gem, perfectly situated on the 6th hole of the Desert Trails Golf Course. With over $140,000 in upgrades, this propenerty seamlessly combines luxury and comfort. Enjoy PAID OFF SOLAR!!! in addition! Bills average $13 a month year round. Step through the brand new 8ft iron door and into a world of sophistication, where you'll find a gourmet kitchen featuring exquisite granite countertops, premium gas cook top and modern appliances, perfect for culinary enthusiasts. All bathrooms have been thoughtfully remodeled, showcasing stylish finishes and fixtures that elevate everyday living. The home is even equipped with automated rolling safety shutters. The roof was replaced in 2021, and with 51 owned solar panels, your average summer electricity bill is an incredible $15, making this home energy-efficient and cost-effective. Offering spacious living areas, this home includes three generously sized bedrooms plus a den, ideal for a home office or additional guest space. The 2-car garage comes equipped with an additional stall designed specifically for a golf cart, ensuring convenience for golf lovers. Enjoy breathtaking views of the golf course while relaxing in your oversized backyard patio, creating an outdoor oasis for entertaining or unwinding. This property is not just a home; it's a lifestyle, whether you want to relax with your steam shower in the primary bath or enjoy the evening on your oversized 25 x 31 patio. You have access to top-notch amenities, recreational opportunities, and a vibrant community. Don't miss out on this exquisite home! Schedule your private tour today and experience the luxury and tranquility this property has to offer!

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2806 E Tina Lane Gilbert, AZ 85298

$709,900

3 Beds

2 Baths

2,375 SqFt

Status Active

MLS # 6772750

Property Type Single Family Residence

Price Type --

ONE-OF-A-KIND RANCH HOME on a 1/3 ACRE CORNER LOT in the HEART OF GILBERT! This original owner home boasts a front living space with panoramic backyard views, a spacious kitchen/great room, with NEW APPLIANCES, 2 split bedrooms, and a large multipurpose room (perfect as a game room, home gym, 4th bedroom or convert to a THIRD CAR GARAGE. The primary suite is generously sized, and bathrooms have been recently updated. Small office off the entry! The huge side yards include an RV gate with tons of additional gated parking in the rear, and a gated pebble tec pool and SPA with a WATERFALL + artificial turf. Other side yard features lots of additional space and horseshoe pits. Just steps from Gilbert Regional Park, Shamrock Estates parks, and Chandler Traditional Academy. Don't miss this one!

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3131 N Central Avenue Unit 6012 Phoenix, AZ 85012

Open House

$709,900

2 Beds

2 Baths

1,419 SqFt

Status Active

MLS # 6607993

Property Type Apartment

Price Type --

*Construction Completed* 5% BUYER INCENTIVE! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom plus den condo is one of the larger two bedroom floor plans and offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Spacious balcony to capture the amazing views while outside as well. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.

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8823 W Wagon Wheel Drive Glendale, AZ 85305

$709,000

5 Beds

4 Baths

3,841 SqFt

Status Active

MLS # 6773169

Property Type Single Family Residence

Price Type --

Just minutes from Westgate entertainment district is everything you've been looking for! This 5 bedroom home in Rover Park showcases an excellent curb appeal, a 3 car garage, and a paver driveway/entryway. The impeccable interior boasts a highly desirable open layout with tall ceilings, plush carpet, ceramic tile flooring, contemporary light fixtures/ceiling fans, and a front room ideal for a formal dining or living room. The sophisticated chef's kitchen features ample white cabinets, contrasting black hardware & granite counters, a waterfall island with breakfast bar, and high-end SS appliances that include a gas cooktop & a double wall oven. Multigenerational suite on the main level with its own private living and bedroom space. The large loft upstairs is a perfect game/TV room spot. The oversized owner's suite hosts an attached den/sitting room and an immaculate ensuite bathroom with a large dual vanity, a soaking tub, a step-in shower, and a walk-in closet. The expansive backyard offers a blank canvas with endless potential to be a desert oasis, with room for a pool that'll make it an entertainer's dream. Great location! Steps away from one of the many community playgrounds, close to schools, main roads, and the Westgate entertainment district. Hurry, a deal like this won't last!

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