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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13944 N 88th Place Scottsdale, AZ 85260

$694,900

3 Beds

2 Baths

1,369 SqFt

Status Active

MLS # 6772846

Property Type Single Family Residence

Price Type --

SELLER IS OFFERING BUYER CONCESSIONS with a competitive offer! Discover the stunning beauty of this Scottsdale home, exuding charm with its fresh exterior paint that enhances its curb appeal. Step through the entryway adorned with designer tile, setting the stage for the open family room that seamlessly flows into a chef's dream kitchen. Here, new cabinets, gleaming quartz countertops, a stylish tile backsplash, and upgraded appliances await. The informal dining area features a sliding door leading to a screened patio and inviting pool, perfect for relaxation. The luxurious primary suite offers a spacious walk-in closet and an elegant double sink vanity, while secondary bedrooms share a beautifully updated bath. Every inch of this home shines with all-new LVP flooring, patterned carpet and modern fixtures, making it a true gem!

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8894 W Garnet Mountain Drive Casa Grande, AZ 85194

$694,900

4 Beds

2 Baths

2,353 SqFt

Status Active Under Contract

MLS # 6739670

Property Type Single Family Residence

Price Type --

Wow! Gently lived in, single story, 2 year old, 4 bedroom house with a beautifully landscaped yard on 1+ acre on private lot in Casa Grande. Low HOA fee. Mountain views - even has a putting green and hot tub. No carpet, large kitchen, open concept, double slider in great room with views of the mountains & back yard, split floor plan with sizable bedrooms and dual sinks in both bathrooms. Modern color schemes and tile flooring perfect for pets or kids! 4 car garage with storage units and an RV gate with driveway to the gate and behind the gate - great for toy storage. If you're looking for a large home with lots of space, come see this today! Conveniently located to Freeway and Casa Grande mod-cons.

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9762 E Research Avenue Mesa, AZ 85212

$694,850

4 Beds

3 Baths

2,474 SqFt

Status Active

MLS # 6742774

Property Type Single Family Residence

Price Type --

Welcome to this beautiful Lennar NextGen home in Eastmark! The main home has 3 bedrooms and 2 bathrooms and the casita, 1 bedroom, 1 bathroom, a living room, a stackable washer and dryer, and a full kitchen! The great room has beautiful wood-looking tile, a modern ceiling fan, and surround sound. You will love the upgraded shutters throughout! The kitchen offers quartz countertops, stainless steel appliances, and pendant lighting over the island breakfast bar. The primary suite has an ensuite bathroom with a large shower, dual sink vanity, and 2 walk-in closets. The remaining bedrooms are move-in ready with shutters and a ceiling fan. The backyard is cozy with an above-ground spa, a covered patio with a ceiling fan and a covered extension. Additional features include a shed, screens on the windows, prewired for surround sound, garage flooring is epoxied and finished with cabinets. Do not miss out on this home! Eastmark is an amenity-rich community offering its residents a resort-style community has a pool that's heated, a kid recreational center, a splash pad, lakes, and a farmers' market.

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4283 E Bernice Street Gilbert, AZ 85295

$694,180

3 Beds

3.5 Baths

1,869 SqFt

Status Active

MLS # 6773948

Property Type Single Family Residence

Price Type --

This beautiful Cavalcade plan, 1869 is our most popular plan of our Seaboard Homes, Beautifully laid out with 3 bedroom and 3.5 baths and spacious great room and open gourmet kitchen. The master bedroom has a French door to a large covered patio and features a roomy walk in closet and a beautifully master bath highlighted by a gorgeous spa shower. Beautiful wood look - Luxury Vinyl Plank flooring shows off the wonderful great room which opens to the outside with an expansive 16'' atrium glass door. The gourmet kitchen features upgrade cabinets with upgraded crown molding. The Quartz countertops are highlighted by the upgraded tile backsplash. This home shows like a dream!

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34327 N Sandpiper Trail San Tan Valley, AZ 85144

$694,161

3 Beds

2.5 Baths

2,553 SqFt

Status Active

MLS # 6726633

Property Type Single Family Residence

Price Type --

Welcome to this gorgeous home in Emblem at Oro Ridge boasting a well thought out great room floorplan, and a 3 car tandem garage with service door! The gourmet chefs kitchen is stunning with quartz countertops, a waterfall kitchen island with a breakfast bar, Urban Coffee Cabinets, stainless steel appliances, and a pantry. The primary suite is spacious with a lavish ensuite featuring a dual sink vanity, walk-in shower, and a walk-in closet. Bedrooms 2 and 3 are spacious! Plus a den! The backyard is huge!

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3009 E Hemberg Drive Flagstaff, AZ 86004

$694,000

3 Beds

2.5 Baths

2,223 SqFt

Status Active

MLS # 6693899

Property Type Single Family Residence

Price Type --

Nestled amidst the breathtaking landscapes of Flagstaff, Arizona, in the esteemed Swiss Manor neighborhood, this enchanting property offers a harmonious blend of natural beauty and living. Situated near the majestic mountains, this residence boasts a prime location for outdoor enthusiasts and nature lovers alike. Step inside this spacious abode to discover a thoughtfully designed layout featuring three bedrooms plus a den, providing ample space for relaxation and productivity. With two bathrooms, including one ensuite, convenience is paramount in this mountain retreat. Ascending through the three stories of this home, you'll find yourself immersed in a world of comfort and style. With five interior levels, each offering its own unique ambiance and purpose, there's no shortage of space for living, entertaining, and unwinding. Whether you're enjoying the panoramic views from the topmost level or cozying up by the fireplace in the family room, every corner of this home exudes warmth and tranquility. Embrace the allure of mountain living while still enjoying the convenience of amenities and easy access to Flagstaff's vibrant community. With its captivating surroundings and versatile living spaces, this property offers the perfect opportunity to embrace the Flagstaff lifestyle and create cherished memories for years to come. Don't miss your chance to make this mountain retreat your own slice of paradise.

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6608 N Cima Vista Drive Casa Grande, AZ 85194

$694,000

3 Beds

2.5 Baths

2,393 SqFt

Status Active

MLS # 6710519

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This exquisite 3 bedroom, with a versatile den, 2.5-bathroom residence offers 2,393 square feet of luxurious living space, situated on a sprawling 1-acre lot with no rear neighbors. The stunning natural surroundings offer unparalleled desert, mountain, and sunset vistas, creating a serene and picturesque backdrop for your new home. The interior features a spacious great room that flows seamlessly into a gourmet kitchen, making it perfect for entertaining. The kitchen boasts upgraded stainless steel appliances, granite countertops, 42-inch soft-close cabinets, a walk-in pantry, an island with breakfast bar seating, and elegant pendant lighting. The private owner's retreat serves as a tranquil escape, featuring a large en-suite bathroom with a dual sink vanity, an oversized walk-in tiled shower, and a generous walk-in closet. Additional bedrooms and a den provide ample space for family, guests, or a home office, with luxury vinyl plank flooring in all bedrooms, plus ceiling fans throughout. This home also includes a massive 47x15 ft RV garage, an additional 2-car tandem garage, and a 1-car garage, complete with an RV clean-out located right outside the RV garage. Tons of natural light flood the home, highlighting the upgraded lighting fixtures, door hardware, and the brand new Polywood Plantation Shutters installed throughout. Tile plank flooring in the common areas and stylish 2-tone paint enhance the modern convenience and aesthetic appeal. The exterior of this property is just as impressive, with its expansive 1-acre lot providing privacy and space for outdoor activities. A small section of the backyard is fenced in with Vinyl fencing, plus enjoy the covered patio with ceiling fans installed to help keep you cool! This home is the perfect blend of modern luxury and natural beauty. Please do not show up to the property unannounced!

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26119 S 196th Street Queen Creek, AZ 85142

$694,000

3 Beds

2 Baths

1,571 SqFt

Status Active

MLS # 6738050

Property Type Single Family Residence

Price Type --

Discover your dream equine retreat in the heart of Queen Creek! This charming country farmhouse is nestled on 1.2 flat acres of premium horse property, offering breathtaking views of the majestic San Tan Mountains. Situated on a County Island with no HOA, this home is designed with horse enthusiasts in mind. The property features three shaded stalls, an expansive grooming and tack area, and a nearly new tack shed, ensuring all your equestrian needs are met. Enjoy the generous turnout and riding area, complete with a 50-foot round pen that's perfect for training and exercise. The inviting farmhouse has recently undergone thoughtful renovations, including fresh paint, new vinyl flooring, contemporary baseboards, a stylish breakfast bar, and new blinds throughout the home. The guest bathroom has also been beautifully remodeled, adding to the home's charm and functionality. This property is truly a haven for horse loversbring your horses, your toys, and make this picturesque home your own! Located just minutes from Horseshoe Park & Equestrian Center, miles of picturesque riding trails, and an abundance of shopping and dining options, you'll have everything you need right at your fingertips. Don't miss this exceptional opportunity to own a slice of equestrian paradise, where country living meets city convenience!

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501 W Surrey Avenue Phoenix, AZ 85029

$694,000

4 Beds

2 Baths

2,581 SqFt

Status Active

MLS # 6755688

Property Type Single Family Residence

Price Type --

NEWLY REDUCED!! Don't miss this beautifully remodeled gem! Nestled in the highly sought-after Moon Valley neighborhood on a large spacious 0.23-acre corner lot, this 4-br, 2-bath home is updated with no detail overlooked. A split floor plan, 3 large bedrooms and a large primary suite with a relaxing ensuite bath features a separate shower and sunken tub. This home has been lovingly cared for and immaculately maintained, showcasing modern upgrades while preserving its charm. The expansive backyard provides endless opportunities for outdoor entertainment, relaxation, or even adding a future pool. A large covered patio offers plenty of shade and the perfect spot to enjoy breathtaking views of North Mountain. Enjoy easy access to hiking trails. Close to elementary, middle and high schools.

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15416 W Valentine Street Surprise, AZ 85379

$694,000

4 Beds

3.5 Baths

3,523 SqFt

Status Active

MLS # 6768034

Property Type Single Family Residence

Price Type --

Welcome to Marley Park! This desirable subdivision is well known for its amenities and sense of community. This absolutely gorgeous and well taken care of 3500+ sq ft home is one of the largest if not the largest single story home around. Home sits on a premium lot adjacent to Discovery park. Unique split floor plan is great for families, featuring a complete guest suite in front of the home and a secluded office in the master suite. Beautifully appointed kitchen featuring granite countertops, travertine backsplash, staggered cabinets, island with breakfast bar, and newer stainless steel appliances. Long list of features including: AC units 1 year old - 3 car tandem garage - Extended paver patio - Built in fire pit with seating area - Tuff shed - upgraded lighting and plumbing fixtures - newer interior paint - artificial turf in the front and back yard. Huge master suite with dual vanities, walk in shower, garden tub with attached office. If you are looking for a great place to raise a family, this home and community offers just that. Come visit today.

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5444 E Crescent Avenue Mesa, AZ 85206

$694,000

4 Beds

2.5 Baths

3,032 SqFt

Status Active

MLS # 6767756

Property Type Single Family Residence

Price Type --

Your dream home is within reach! Discover this beautiful 4-bed 2.5 bath home with a Pool, RV parking and, No HOA! Be greeted by a beautiful spacious courtyard w/skylights & exposed beams! Inside, you'll find a formal dining & a living room w/beehive fireplace & beamed ceiling. Continue into the open AZ room w/dual French doors & the lovely family room overlooking the kitchen. Delightful kitchen has ample cabinetry, a tile backsplash, SS appliances, & a pantry. The versatile den is ideal for an office or craft room ! The main bedroom offers access to its own patio area, a walk-in closet, & an ensuite w/two vanities. Entertainer's backyard boasts covered patio w/Ramada extended, built-in BBQ w/wet bar, refreshing pool, outdoor shower, & garden area, garage has built in workbench. Must see!

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2035 E Kael Circle Mesa, AZ 85213

$693,799

5 Beds

2 Baths

3,012 SqFt

Status Active

MLS # 6771229

Property Type Single Family Residence

Price Type --

Fantastic 5-bed, 2-bath home sits on a cul-de-sac! Great curb appeal with brick accent details, 2-car garage, paver front patio & pathway, and a mature landscape w/lush lawn & shade trees. The inviting interior features tons of natural light, layered crown molding, designer paint, and tasteful flooring - wood & soft carpet. You'll love the seamless flow between the living & dining areas, along with a cozy family room featuring a brick fireplace! The kitchen has SS appliances, ample wood cabinetry, & a peninsula w/breakfast bar. The main bedroom is on the main level, offering a full bathroom w/dual sinks. PLUS! This gem has a cozy den downstairs & a bonus room upstairs. Enjoy the entertainer's backyard with a grassy area, covered patio, storage shed, & a fenced private pool! Move-in ready!

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