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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705 W Carob Place Chandler, AZ 85248

$699,900

5 Beds

3.5 Baths

2,992 SqFt

Status Active Under Contract

MLS # 6740758

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the prestigious Fox Crossing lake community! This stunning 5-bedroom, 3.5-bath residence offers an open floor plan perfect for modern living. Primary bedroom and bath has a giant walk-in closet and is located on the first floor. The large upstairs loft would be perfect for a teen area or relaxation space. Jack-n-Jill bathrooms in the secondary bedrooms offer maximum versatility. The spacious eat-in kitchen flows seamlessly into a large living room, ideal for entertaining. The resort-style backyard is a true oasis, featuring a sparkling pool, lush grass area, and ample space for outdoor activities. With a 3-car garage, you'll have plenty of room for vehicles and storage. Enjoy the convenience of being within walking distance to a beautiful greenbelt and park. This home combines luxury, comfort, and an unbeatable location. Don't miss out

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26203 S Flame Tree Drive Sun Lakes, AZ 85248

$699,900

2 Beds

2.5 Baths

2,862 SqFt

Status Active Under Contract

MLS # 6718489

Property Type Single Family Residence

Price Type --

Beautifully-Remodeled, Move in Ready Home. *** Seller offering 3.5% concessions to buyer at closing with accepted offer.*** Very Active, Gated, Golf Course Neighborhood. Home boasts Solar Panels, 3-Car Garage and Backs to a walking path. All New Flooring, Cabinetry, Countertops, Lighting, Fans, Paint, Kitchen Appliances and Hardware. Large Office, NO Interior steps and double closets in Primary Bedroom. Updated Primary suite features New Handicap Accessible Curbless Shower and Stand alone soaking tub. Home is move in ready and truly better than new! New Turf and Landscaping. Sun Lakes is a gated community with amenities including golf, tennis, pickleball, pools, countless clubs and two excellent restaurants!

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4150 E Rancho Tierra Drive Cave Creek, AZ 85331

$699,900

4 Beds

2 Baths

2,284 SqFt

Status Active Under Contract

MLS # 6763660

Property Type Single Family Residence

Price Type --

Beautiful home in the heart of Tatum Ranch with vaulted ceilings throughout and a spacious open floor plan. A huge premium corner lot with over 12,500 SF, very private and quiet. Gorgeous kitchen w/ custom cabinets, granite countertops & SS Appliances. All windows throughout home recently replaced w/ dual pane energy efficient & a transferable lifetime warranty. Huge private backyard with plenty of space to enjoy the quintessential desert lifestyle in Cave Creek. Entire interior home recently repainted along with all carpet replaced. New primary closet built out, electrical panel replaced in 2023 & water heater replaced in 2024. Property has been very meticulously maintained!

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11040 E Tumbleweed Avenue Mesa, AZ 85212

$699,900

4 Beds

3.5 Baths

3,155 SqFt

Status Active

MLS # 6751775

Property Type Single Family Residence

Price Type --

Discover this stunning 4-bedroom, 3.5-bath home on a premium lot in the vibrant Bella Via community, adjacent to Eastmark, and just minutes from the Mesa Gateway area, home to innovative businesses, schools, retail, and dining. Featuring a 3-car tandem garage with a dedicated storage room, this home offers versatility with a den that easily converts to a 5th bedroom and a loft bonus space perfect as a second living room. Enjoy an outdoor oasis with a private saltwater pool, and travertine patio. Inside, experience functional elegance with contemporary finishes throughout. Steps away from a park with playground and splash pad, this home blends luxury with family-friendly amenities and scenic mountain views.

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31854 N 132nd Avenue Peoria, AZ 85383

$699,900

5 Beds

3.5 Baths

2,933 SqFt

Status Active

MLS # 6766516

Property Type Single Family Residence

Price Type --

Welcome to this stunning home in the highly sought-after Vistancia community in Peoria! Surrounded by breathtaking desert landscapes, top-rated schools, and endless recreational options, Vistancia offers a lifestyle like no other. Located just down the road from boating, fishing, scuba diving, and camping at Lake Pleasant, this beautiful home with all-new interior carpeting sits on an oversized lot and features nearly 3,000 sqft of luxurious living space, with 5 spacious bedrooms, a den, and 3.5 bathrooms. The backyard is perfect for entertaining, with a pool, artificial turf, and plenty of room to relax. Enjoy access to not one, but two community centers, over 6 miles of lighted walking and hiking trails, and a 3-car garage with ample storage.

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52108 N 461st. Avenue Wickenburg, AZ 85390

Open House

$699,900

2 Beds

1 Bath

1,200 SqFt

Status Active

MLS # 6763978

Property Type Apartment

Price Type --

Income-Producing Horse Training Facility in the perfect location! This ag-exempt property offers everything needed for successful equine living. It includes a barn, arena, and cattle pens, ideal for boarding, or livestock management. The facility boasts multiple stalls, a wash rack, tack room, and a round pen for all your horse-related needs. Live comfortably in the 2 bed, 1 bath w/ walk in shower home. Giving you inside laundry, laminate floors, butcher block & laminate counter tops. Added conveniences are 3 full RV hookups. There is a 1 and 1 Casita with laundry. A private well for the entire property. This fully equipped facility is ready to support your equestrian dreams. Your Arizona Horse Ranch awaits you! See docs tab for list of all the great things this property offers.

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9379 E Windrose Drive Scottsdale, AZ 85260

Open House

$699,900

3 Beds

2 Baths

2,112 SqFt

Status Active

MLS # 6774485

Property Type Single Family Residence

Price Type --

Welcome to this delightful 3-bedroom + 2 office/casitas and 2-bathroom single-story home nestled on a tranquil cul-de-sac lot. Boasting 2112 square feet of meticulously designed living space which includes 2 bonus rooms, this property offers an ideal blend of comfort, convenience, and elegance. Upon entering, you'll be greeted by an inviting open floor plan that seamlessly connects the living, dining, and kitchen areas, perfect for both relaxing and entertaining. The well-appointed kitchen features modern appliances, ample counter space, and a breakfast bar, making meal preparation a joy. The primary bedroom suite is a private retreat, complete with an en-suite bathroom and generous closet space. Two additional bedrooms provide...

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6083 W Abraham Lane Glendale, AZ 85308

Open House

$699,900

4 Beds

3 Baths

2,676 SqFt

Status Active

MLS # 6742530

Property Type Single Family Residence

Price Type --

Gorgeous Lakefront Property that feels like your own private oasis! This stunning home features an enormous back yard with new grass turf, private pool and spa (New Motor and New Pump), surrounded by various Palms and a canopy of large Ficus Trees, backing directly to the lake!! The interior of the property features brand new carpeting, new interior paint, new light fixtures and new fans in each room, and a newly painted front door and cabinets. Plenty of living space in this gorgeous lakefront home. Upon entering, you are greeted with a large family room w/ formal dining area. The 2nd family room connects to the kitchen with a patio door giving access to the beautiful backyard. Kitchen includes granite counter tops, newly painted cabinets, island, separate pantry and gas range. The 2nd level features another living space/game room, along with 3 bedrooms. Large master bedroom with vaulted ceilings, garden tub, separate shower, double vanity and oversized walk-in closet.

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21523 N 72nd Avenue Glendale, AZ 85308

Open House

$699,900

5 Beds

3 Baths

3,128 SqFt

Status Active

MLS # 6753093

Property Type Single Family Residence

Price Type --

Move-in ready 5 bedroom, 3 bathroom home in the highly sought-after Sierra Verde Community of Glendale offers both comfort and style. Step inside to find a formal dining and living area, complete with a cozy 2-way fireplace and elegant plantation shutters, all beneath stunning vaulted ceilings that create an open and airy feel. The kitchen is a chef's delight, featuring a stainless steel appliance package, granite countertops, abundant cabinet space, and a pantry for all your storage needs. The master bedroom serves as a private retreat with its luxurious amenities, including double sinks, walk-in tile shower, and a spacious walk-in closet. Sitting on a large lot with mature trees, the backyard is perfect for outdoor living, featuring a sparkling pool and a covered patio.. ...for relaxing or entertaining. Additional highlights include new carpet, a 3-car garage, RV gate, and plenty of space for storage or recreational toys. The home also boasts several recent upgrades, ensuring peace of mind for years to come: a brand new AC unit installed in 2021, a beautifully remodeled upstairs bathroom completed in 2024, a new pool filter added in 2024, and a full roof replacement in 2018. Get a private tour today!

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8487 W Washington Street Peoria, AZ 85345

$699,888

4 Beds

2 Baths

1,832 SqFt

Status Active

MLS # 6733259

Property Type Single Family Residence

Price Type --

Prime Mixed-Use Property in Downtown Peoria! Discover this modern 2017 custom-built home perfect for both living and business! Located in the heart of downtown Peoria, this 1,832 sqft property offers residential comfort and commercial potential. The open floor plan features granite kitchen countertops, an island, white cabinetry, and stainless steel appliances. Enjoy ceramic tile flooring, neutral paint, and dual-pane windows with sunscreens. The master suite includes a walk-in closet and tiled shower. With four large bedrooms, two with built-in desks, and an entertainer's backyard complete with a gazebo and pavers, this home is designed for comfort and style. Additional features 2-car garage with epoxy flooring, an in-ground safe, and a surveillance system. Business-ready

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25555 N Windy Walk Drive Unit 57 Scottsdale, AZ 85255

$699,847

2 Beds

2 Baths

1,337 SqFt

Status Active

MLS # 6762081

Property Type Townhouse

Price Type --

Welcome to this stunning home in the exclusive guard-gated community of Skye Top at Troon Village. Completely gutted and remodeled in 2017, this single-level, end-unit property is being sold turn-key and fully furnished. It features 2 bedrooms and 2 baths with no interior steps. Enjoy up-close views of Troon Mountain from the private covered patio and take advantage of the short walking distance to Troon Country Club. The Skye Top community also offers a pool, spa and clubhouse for your relaxation. The home is well-maintained, with an HVAC system that is only five years old and a roof coating that was applied three years ago. Inside, the light and bright tile floors and vaulted ceilings create an open and inviting atmosphere. The kitchen is equipped with stainless steel appliances, wood cabinetry, quartz counters, and countertop seating, all open to the family and dining areas. The family room features view windows and a cozy fireplace. The large primary suite includes clerestory windows, a walk-in closet with custom storage built-ins, dual sinks, vanity seating, a soaking tub, and a large walk-in shower. The guest hall bathroom is conveniently located across from the guest bedroom. Additional features include an interior laundry room and an attached two-car garage.

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3314 Lodgepole Drive Overgaard, AZ 85933

$699,777

3 Beds

2 Baths

2,200 SqFt

Status Active Under Contract

MLS # 6764930

Property Type Single Family Residence

Price Type --

Nestled among towering pines, this stunning house of windows offers spectacular views in a private, secluded setting on 1.25 acres. With 3 bdrms & 2 baths, this home features two master suites, one on each level. The third bedroom, accessible thru upstairs master huge walk-thru closet, functions as an office, nursery, or craft room. Inside, enjoy a loft accented by beautiful peel pole log railing, vaulted T&G ceiling, & stone-faced floor to ceiling fireplace. The property showcases knotty oak cabinets & stain-grade interior doors & trim, while the outdoor space is designed for entertaining, featuring 10-foot wrap-around Trex deck on two sides of property, an outdoor kitchen w/refrigerator, sink, & BBQ, as well as a paver patio seating area. Relax in the hot tub, swing on the deck or enjoy fun games like putt-putt golf & bocce ball. The property also includes an 8x10 greenhouse, a gardening shed w/sink, & a 12x30 insulated shed w/metal roof. Additional features include an attached oversized two-car garage w/pellet stove, a fenced yard, & a stunning remote-operated security gate. With over 10 fruit trees & a landscaped backyard adorned w/honeysuckle vines & flowers, this low-maintenance home is a rare gemonly a few hundred yards of privately maintained gravel road, located at the end of a paved subdivision w/no HOA & horses allowed! Must See!

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