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.

What’s Your Home Worth?

Search for Your New Home

Listing types.

For Sale

For Rent

Land

Multifamily

Commercial

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Distressed

Open House

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Price MaxAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Neighborhood

Address, MLS# or Keyword

Location Search Nearby

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

School District

Address, MLS# or Keyword

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Address, MLS# or Keyword

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

View As: Thumbnails List

Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

16800 E El Lago Boulevard Unit 1019 Fountain Hills, AZ 85268

$695,000

2 Beds

2 Baths

1,898 SqFt

Status Active

MLS # 6775435

Property Type Apartment

Price Type --

Highly upgraded, GROUND FLOOR 2 b/2 bath condo with DEN (can be an office, 3rd bedroom, etc) located in the heart of scenic Fountain Hills. This idyllic home boasts a large 2 car garage, well designed gourmet kitchen with 14th level upgrade suede maple cabinets and tile backsplash, open, bright and sunny floorplan and an ideal view of the Fountain and Four Peaks from patio, primary and living room. Upgraded tile, wood floors & carpet in bedrooms only. Custom accent paint thru out. Both baths have Granitex vanity tops. All appointments are rich neutral earth tones. 2 car garage has epoxy floor and ceiling storage racks, but best of all, direct access to condo, all one level. Village at Towne Center is an upscale community with heated pool, hot tub and fitness center, GATED community.

View Property

8216 E Del Cuarzo Drive Scottsdale, AZ 85258

$695,000

2 Beds

2 Baths

1,737 SqFt

Status Active

MLS # 6776952

Property Type Single Family Residence

Price Type --

OPPORTUNITY KNOCKS!! Your chance to remodel this 1 level home w/ a 2 car garage in the heart of highly desired McCormick Ranch. Enjoy the signature green lush grass/mature tree look that defines the very essence of beautiful McCormick Ranch! This 2 bedroom/2 bath 1 level patio home features a spacious great room that opens to lovely dining room & bright, light & airy kitchen w/ nook. Additionally, the great room opens to a lovely private back patio for incredible AZ outdoor living! Spacious primary bedroom also opens to the private back patio for additional access to your lovely private outdoor living space! There is a 2nd bedroom w/ a bathroom (that serves as the powder room too). Heritage Village 3 enclave features tennis courts, 2 swimming pools & lots of green grassy common areas!

View Property

650 E Silver Creek Road Gilbert, AZ 85296

$695,000

3 Beds

2 Baths

2,012 SqFt

Status Active

MLS # 6782090

Property Type Single Family Residence

Price Type --

WOW! A BEAUTIFULLY remodeled home near the COVETED downtown Gilbert Food & Entertainment District is waiting for you! *Every inch of this OPEN & BRIGHT single level has been UPDATED w/ tasteful, trend forward finishes including the GOURMET kitchen & LUXURIOUS baths. *The SPLIT floor plan is super functional & includes a 2-way fireplace separating the great room from the living room adding CHARM & WARMTH. *The RESORT-style backyard has a REFRESHING, newer 2020 lap pool & a SPORTY putting green for those golf enthusiasts. *This home is PERFECT for entertaining or gathering family members from the COZY front porch to the INVITING back patio & everywhere in between. *Hurry! This TURN-KEY, low maintenance property in the Gilbert School Dist is nestled under a NEWER roof (2023) and won't last!

View Property

1113 W Wagner Drive Gilbert, AZ 85233

New

$695,000

3 Beds

2 Baths

2,043 SqFt

Status Active

MLS # 6782308

Property Type Single Family Residence

Price Type --

Tons of CHARACTER and love awaits you as you arrive at this beautiful home! Located on one of the largest lots in the entire subdivision - 1/3 acre!! Indoor/outdoor living abounds with multiple sitting areas to enjoy the backyard and pool! So many special features make this a truly perfect entertainers dream home!! This home almost feels like you are living in a trendy Arcadia-like home, but with all the suburban living conveniences and conveniently located in the Islands in Gilbert! Vaulted ceilings! Many updates and upgrades throughout! There is a casita that is currently being used as an exercise room, but it would also make an excellent office or kids special playhouse, and plenty of room to expand it in size (add bed/bath/kit etc). Open concept throughout! Located on a quite cul-de-sac. Updated bathrooms, kitchen, pool, roof, flooring, casita and more! 9 impressive palm trees add to the character of this home! Huge backyard and side yards. Plenty of room to expand the casita and more! There are plenty of track homes, but this home is Unique on many levels and once it's gone there isn't anything even close!! Don't miss this RARE Opportunity!! More photos and information will be uploaded in the upcoming days!

View Property

5742 N 18th Place Phoenix, AZ 85016

$695,000

3 Beds

2 Baths

1,440 SqFt

Status Active Under Contract

MLS # 6782020

Property Type Single Family Residence

Price Type --

Welcome to this lovely, move-in ready 1,440 square foot red brick home nestled in one of the most desirable neighborhoods in Central Phoenix. With 3 spacious bedrooms and 2 beautifully appointed bathrooms, this home has been thoughtfully updated and impeccably maintained. The kitchen shines with modern upgrades, perfect for meal prep and entertaining, while the hall bath has also been stylishly refreshed and expanded. The exterior boasts a well-kept yard surrounded by lush privacy hedges to the west that provide substantial shade, offering a peaceful outdoor retreat. The backyard also has a large back patio and separate garden area with a large covered sitting area. A 150 square foot (not included in listing square footage) fully functional game room/office space with a large loft sits next to the backyard garden area. It provides extra space for and office, game room, she-shed, or guest quarters, adding both convenience and versatility. Don't miss this gem, come see today!

View Property

1406 E Ellis Drive Tempe, AZ 85282

$695,000

4 Beds

3 Baths

2,301 SqFt

Status Active Under Contract

MLS # 6754437

Property Type Single Family Residence

Price Type --

The property features a versatile mother-in-law suite or attached rental unit, ideal for extended family or generating rental income. This separate kitchenette living space includes a zero entry shower, w/d hookups. Indulge in relaxation with a luxurious private outdoor soaking tub and dual shower area, offering a serene escape right in your own backyard, The outdoor kitchen and bar provides an ideal setting for entertaining. Year round gatherings are comfortable under the covered patio outfitted with a high pressure misting system. Enjoy the Big Game from 3 large screen TVs, or have quiet conversations in front of the fireplace.

View Property

5357 W Tonopah Drive Glendale, AZ 85308

$695,000

3 Beds

2 Baths

1,925 SqFt

Status Active Under Contract

MLS # 6768380

Property Type Single Family Residence

Price Type --

Welcome to Arrowhead Lakes Luxury! This gorgeous 3-bedroom property Boasts a huge lake view. Vaulted ceilings and elegant luxury floors that create a warm and inviting atmosphere. The sizable great room is perfect for relaxation and gatherings, enhanced by recessed lighting. Unleash your culinary creativity in the delightful kitchen, featuring a skylight, crisp white cabinets, a charming bay window, a stone-accented backsplash, granite countertops, and a spacious center island, perfect for entertaining. The main suite is a true retreat, offering a walk-in closet, direct access to the backyard, and a private bathroom with dual sinks. Step outside to entertain on the covered patio, take a dip in the sparkling pool, and enjoy the scenic lake view. This home has it all. Don't miss out

View Property

1367 E Verde Boulevard San Tan Valley, AZ 85140

$695,000

2 Beds

2.5 Baths

2,247 SqFt

Status Active

MLS # 6687159

Property Type Single Family Residence

Price Type --

*** STUNNING, MINT CONDITION, MOVE-IN READY... SINGLE-STORY BEAUTY!!!*** Don't miss this GORGEOUS, METICULOUSLY MAINTAINED home in the highly sought-after ENCANTERRA community. This OPEN FLOOR PLAN features 2 MASTER SUITES w/2 BATHS, Large 1/2 BATH...PLUS a LARGE BONUS ROOM...ideal for FORMAL DINING, OFFICE or DEN!! Absolutely LOADED w/ UPGRADES including GOURMET KITCHEN W/ GRANITE COUNTER TOPS, STAINLESS STEEL APPLIANCES ...including LG 4-Drawer fridge w/ CRAFT ICE MAKER...BOSCH DISHWASHER & CUSTOM CABINETRY. PLANTATION SHUTTERS & WOOD-LOOK TILE FLOORING THROUGHOUT. Finishing touches include SPACIOUS COVERED PATIO w/ MISTER SYSTEM...and a FULLY AIR CONDITIONED, 3-Car TANDEM GARAGE w/ EPOXY FLOORING, CUSTOM STORAGE CABINETRY, WORKSHOP AREA & EXTRA REFRIGERATOR!! HURRY...THIS WON'T LAST The award-winning Encanterra Community offers SOMETHING FOR EVERYONE... featuring amazing amenities including a 60,000 sqft La Casa club house with restaurants, wine room, cafe, two outdoor pools, spa, indoor pool, exercise rooms, billiards and poker lounge and so much more. In addition, you'll find four tennis courts and pickle ball courts, bocce courts and more...including a beautiful Tom Lehman-designed 18-hole golf course!!

View Property

1275 Pebble Springs Prescott, AZ 86301

$695,000

3 Beds

3 Baths

2,213 SqFt

Status Active

MLS # 6759048

Property Type Single Family Residence

Price Type --

Welcome to this stunning single-level home located in the gated Creekside neighborhood of Prescott Lakes. Boasting exceptional curb appeal, the property features a paver driveway and beautifully landscaped front yard, complementing the stucco exterior with elegant stacked stone accents. As you enter, you'll be greeted by rich, dark engineered wood floors that flow throughout the main living areas, setting the tone for the inviting open floor plan. The great room exudes comfort and sophistication, seamlessly connecting the living room, dining area, and kitchen, while offering a versatile bonus space. At the heart of the great room is a cozy gas fireplace with a rock surround and wood mantel, flanked by a wall of windows that fill the space with natural light. The kitchen is a chef's dream, equipped with stainless steel appliances, including a 4-burner gas range, granite countertops, glass tile backsplash, and a walk-in pantry. The large kitchen island, with a breakfast bar and undermount sink, serves as a central gathering spot, perfect for casual meals or entertaining. The dining area, open to both the kitchen and great room, provides a seamless flow for hosting guests. The den offers additional flexibility, easily transformed into a breakfast nook, library, or office, with sliding glass doors that allow you to customize the space to your preferences. Escape to the luxurious primary bedroom suite, where you'll find granite counters with double sinks, a dressing table, a walk-in closet, and a spa-like glass-enclosed walk-in shower. Two additional bedroomsone carpeted and one with wood flooringshare a Jack and Jill bathroom with granite countertops, dual sinks, and a walk-in tub/shower combination. Additional features include a convenient powder room and laundry room, both located off the foyer. The spacious 3-car tandem garage provides ample storage, workshop space, or room for an extra vehicle. Outdoors, the expansive covered paver patio, open side patio, and fully landscaped backyard offer plenty of space to relax and enjoy the crisp mountain air of Prescott.

View Property

310 S 4th Street Unit 1905 Phoenix, AZ 85004

$695,000

2 Beds

2.5 Baths

1,435 SqFt

Status Active

MLS # 6706728

Property Type Apartment

Price Type --

Location is everything and this unit has perfect city views as well as amazing sun set views. Great location in the city as it's nestled between the Phoenix Suns and AZ Diamondbacks venues. Restaurants, easy light rail access, theatre's and symphony's are all around. Popular Open Floor plan. This unit was recently completely remodeled with high end finishes. Murphy bed at Guest/Office room. Lift parking space allows for two vehicles. This unit also has an extra large balcony. Located on the 19th floor of this 23 floor building, it's really one of a kind. 24 Hour Lobby Security/Attendant. Fitness Center, Outdoor pool and hot tub overlooks Diamondback stadium. Don't let this one get away.

View Property

29825 W Bellview Street Buckeye, AZ 85396

$695,000

4 Beds

2 Baths

2,841 SqFt

Status Active

MLS # 6716717

Property Type Single Family Residence

Price Type --

Welcome to a Brand-New Home 2023 on a little over an acre. This home has a split 4 bedroom 2 bathroom with a 3 car extended garage. Large open concept living area featuring countless upgrades such as 9' ceilings, extra large kitchen island with quartz counter tops and backsplash. LED Lighting and tile floors throughout the entire house. Primary bedroom has a spa-like bathroom with a seamless walk-in shower, water closet, walk-in closet, dual sinks. Shared well with one neighbor. This one is a must see! 2x6 Constructions with foam sprayed in walls and roof. 400 amps service, plenty of power for an RV garage/casita. 50 amp outlet in garage for your electric vehicle. Not your average new built. We have the Occupancy Cert in hand!! Ready to move!

View Property

6850 S Birdie Way Gilbert, AZ 85298

$695,000

3 Beds

2 Baths

2,361 SqFt

Status Active

MLS # 6717020

Property Type Single Family Residence

Price Type --

Don't miss out on this fabulous Seville Country Club home . Single level, 3 bedrooms plus Den, 2 bathrooms, 2 car garage, and single car garage. Resort-style backyard with plenty of space to entertain including spa, built in BBQ and firepit. This prime golf course lot offers beautiful views of the pristine course. Granite countertops and matching stainless appliances. Outside of home freshly painted. Much more to see.

View Property