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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16814 E Palm Beach Drive Queen Creek, AZ 85142

Open House

$690,000

4 Beds

3 Baths

2,313 SqFt

Status Active

MLS # 6729133

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Welcome to this elegant property featuring a neutral color scheme and a cozy fireplace, RV gate, a three car garage and no HOA. Bring your toys! The kitchen is a chef's dream, with a center island, and stainless steel appliances. Travertine tile in the right places. The primary bedroom includes a walk-in closet and an en-suite bathroom with double sinks, a separate tub, and a shower. Enjoy the outdoors on the covered patio, dip in the private in-ground pool, or relax in the fenced backyard. The home has fresh interior paint and partial flooring replacement, adding to its charm. This property is a perfect blend of comfort and style.

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6850 E Mcdowell Road Unit 7 Scottsdale, AZ 85257

$689,999

3 Beds

2.5 Baths

1,759 SqFt

Status Active

MLS # 6723887

Property Type Townhouse

Price Type --

Aire Luxury Living Is Here! Your new 3 bed, 2.5 bath townhouse is waiting for you to move in. A unique opportunity to own a 3 story end-unit, private rooftop home. Fully loaded kitchen is a chef's dream with counter space and storage you are looking for. First floor rec with laundry room, second floor living room opens to large balcony, third floor living quarters all with natural lighting and 10 foot ceilings. Entertain guests from home, use turf pathways for your fury friends, community gym pairs well with large pool, there is just no reason to leave. With views of Papago Park and Camelback Mountain, you are just minutes away from Downtown Scottsdale. Hiking, biking and local amenities are a huge plus.

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2428 W Rowel Road Phoenix, AZ 85085

$689,990

3 Beds

3.5 Baths

2,455 SqFt

Status Active

MLS # 6755372

Property Type Single Family Residence

Price Type --

Welcome to your NEW HOME at Aster in Union Park! 2,455 sq ft of living space with 3 bedrooms, 3.5 bathrooms, Loft and a 2-car garage. All three bedrooms have their own bathroom. Highly upgraded Elite package of upgrades including 42'' white cabinets, marble quartz countertops, custom backsplash, a large island, GE Cafe' stainless-steel Refrigerator & gas appliances & Blanco Valea single bowl sink. Upgraded 8x40'' tile and carpet, 2'' blinds and more! 2 car garage has 18' wide door. Union Park, residents can indulge in amenities including a 5800 sq ft clubhouse, Resort pool, Pickleball courts, playgrounds, basketball courts and 11 Parks. Central Location to nearby shopping, dining and entertainment. Access to 3 different freeways within 15 minutes and be at the airport in 30 minutes.

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7689 W Tether Trail Peoria, AZ 85383

$689,990

3 Beds

2.5 Baths

2,197 SqFt

Status Active

MLS # 6707350

Property Type Single Family Residence

Price Type --

Welcome to Ashton Woods newest community in Peoria -The Sanctuary at Aloravita. This 2,197 Ruby floorplan features a Spanish style elevation and includes 3 bedrooms, 2.5 baths, a den plus 4-car super garage. The impressive kitchen island is perfect for family and friends to gather as it opens to the home's great room for easy entertaining. The kitchen includes stainless steel appliances with a gas cooktop, large undermount sink, under cabinet hood, beautiful stained shaker style cabinets with crown molding, Carrara Breeze quartz countertops, and large pantry. The great room offers a 4 panel center sliding glass door so you can step out into your covered patio to enjoy indoor/outdoor living in your backyard with friends and family. Other features include, 8' interior doors, 6x36 wood plank style floor tile, upgraded carpet/pad, a soft-water loop, and much more! For the car enthusiasts out there, this home includes 4-car super garage. Great location close to dining, freeways, parks, and

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25915 N 23rd Avenue Phoenix, AZ 85085

$689,990

3 Beds

2.5 Baths

2,567 SqFt

Status Active

MLS # 6740971

Property Type Single Family Residence

Price Type --

Welcome to this beautifully designed Alta plan, offering 2,567 square feet of luxurious living space. With its charming farmhouse exterior elevation and inviting covered entry paved with elegant pavers, this home is designed for both style and comfort. The heart of this home is the stunning kitchen, featuring stainless steel GE appliances, including an under-cabinet hood, built-in gas cooktop with five burners, and a built-in wall oven and microwave with a sleek trim kit. The kitchen is a chef's dream with two tone painted shaker cabinetry, white on kitchen perimeter and urbane bronze on kitchen island. All is accented by stylish matte black and satin nickel cabinet hardware which perfectly complementing the 42'' upper cabinets and 3'' crown molding. Enjoy the beauty of Della Terra Pilar countertops, adorned with delicate veining, and a contemporary Dal Tile white 4x12 backsplash. The large single basin stainless steel sink, paired with a Moen Align matte black kitchen faucet, adds both functionality and style. Retreat to the luxurious bathrooms featuring urbane bronze painted shaker cabinets, white cultured marble countertops with rectangular sinks and Moen Gibson matte black premium 8 widespread faucets. Upgraded Calhoun matte black vanity lights illuminate your space. The Dal Tile Vicinity 6x36 Natural wood look tile flows seamlessly throughout the downstairs and into bath 2 and the laundry room upstairs. The primary bathroom showcases exquisite AZ Tile Futura Ivory 12x24 tile, providing a spa-like experience. Upstairs, a tasteful paint grade mission stair rail and is complimented by plush Shaw Kennfield carpet in the shade Ecru adding warmth and comfort, all trimmed with upgraded 4 ¼ baseboards. Throughout, the 8' interior doors adorned with Milan Lever matte black door hardware throughout, adding a touch of sophistication. The side yard is perfect for entertaining, featuring a convenient gas stub for a BBQ, making outdoor gatherings a breeze. This home also includes a soft water loop for added convenience. Located in Union Park at Norterra this home offers not just a living space, but a lifestyle. Don't miss the opportunity to make this your forever home and experience the epitome of modern farmhouse living! Tree-lined streets, pedestrian-friendly sidewalks and a 5,500 sf recreation center with resort style pool an kiddie pool, shaded ramadas, parks, gathering areas, pickelball courts and basketball. Close to I-17, 101 and 303. Walking distance to restaurants, movies, entertainment and shopping.

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866 W Flatiron Trail Apache Junction, AZ 85120

$689,990

4 Beds

3 Baths

2,607 SqFt

Status Active

MLS # 6750774

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. The Livorno floor plan offers a stylish single-story design with four bedrooms, an All Gen suite, and a spacious flex area ideal for an office, TV room, or study. The home includes front yard landscaping and will be ready for occupancy in October. Conveniently located near community parks, grocery stores, and a variety of dining options.

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19020 W Ocotillo Road Waddell, AZ 85355

$689,990

4 Beds

3 Baths

2,588 SqFt

Status Active

MLS # 6739358

Property Type Single Family Residence

Price Type --

READY FOR YOU TO MOVE-IN!!! It's the stunning Benissa with 4 bedrooms, 3 baths, formal dining, courtyard, covered patio. 12'x8' sliding glass door off the great room for easy access to the back yard. Pavers at drive, walk and entry. Kitchen upgrades includes stainless steel gas appliance package with 36'' cooktop, wall oven, glass canopy hood. Linen-''off white'' cabinets throughout with 42'' kitchen uppers, pull out trash drawer/ AZT Silver Falls granite in kitchen including the enhanced kitchen island. Stainless steel undermount single bowl sink. Upgrade flooring includes 5'' baseboards and 3 1/4'' door casings. EMS Cabo II 17x17 Ocean tile in all areas except beds & closets. Two tone interior ''Whiskers' paint. Soft water loop, gas stub for future BBQ and so much more.

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6121 E Vernon Avenue Scottsdale, AZ 85257

$689,990

3 Beds

2 Baths

1,868 SqFt

Status Active

MLS # 6753488

Property Type Townhouse

Price Type --

The home is fully remodeled and looks amazing. The property is completely turnkey and boasts a wealth of new features: Triple-pane windows in all bedrooms Custom triple-pane sliding windows Elegant custom shower enclosures Thoughtfully designed custom closet systems Razor-sharp tile, wood burning fireplace Brand new bath vanities New Upgraded cabinets throughout Beautiful granite countertops Modern light fixtures Fully remodeled showers with new fixtures Backlit LED mirrors with defog function in the master bath Outside, the landscaping has been freshly installed, a worry-free irrigation system. Anderson installed all windows and sliding doors. Family-friendly! Minutes form Arcadia, Papago park, Scottsdale Fashion square&Camleback Corrider.

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908 W Superstition Dr Drive Queen Creek, AZ 85140

$689,980

3 Beds

2.5 Baths

2,748 SqFt

Status Active

MLS # 6760460

Property Type Single Family Residence

Price Type --

NEW Palo Verde COMMUNITY! Inviting 3 bed 2.5 bath plus Den single level home with 10' ceilings that you are sure to fall in love with. Chefs' paradise featuring gourmet kitchen w/ stacked cabinets, quartz countertops, high end appliances & a Morning Kitchen/Butler's Pantry. The primary bedroom is very spacious, and the primary bath features a very large walk-in shower that is a must see. Plus, a 4 CAR TANDEM GARAGE! Amenities galore at North Creek including pool, outdoor fireplace, BBQ's, basketball & pickleball courts, Parks & playgrounds, walking paths, exercise stations & a nature sensory park! Home is under construction and should be complete December 2024.

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6907 E Pinchot Avenue Scottsdale, AZ 85251

$689,900

3 Beds

2 Baths

1,393 SqFt

Status Active

MLS # 6758050

Property Type Single Family Residence

Price Type --

Beautifully remodeled gem nestled in the heart of Scottsdale, AZ. This exquisite 3-bed, 2-bath home gleams a fresh, contemporary style with a fully cosmetic renovation that merges modern convenience with desert charm. Step inside to discover a bright and airy open floor plan, highlighted by sleek white shaker cabinets, pristine quartz countertops, and top-of-the-line stainless steel appliances. The spacious kitchen is a culinary delight, perfect for both everyday meals and entertaining guests. The highlight of the backyard is the large, inviting pool, perfect for relaxing or hosting gatherings under the Arizona sun.

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18956 N 264th Lane Buckeye, AZ 85396

$689,900

2 Beds

2.5 Baths

2,212 SqFt

Status Active

MLS # 6747772

Property Type Single Family Residence

Price Type --

Gorgeous, turn key, Refuge model, home by Del Webb 55+Active Community. Breathtaking, extended, backyard oasis offers a fully walled lot for privacy. Sunsets and White Tank Mountain views (partial) encourages regular gatherings with family and friends. Custom landscaping includes an inviting heated swimming pool with large waterfall feature, alumawood solid pergola covered gourmet outdoor kitchen, large gas fire pit, enclosed patio with ceiling fan. Home interior boasts $100,000+ in upgrades: custom tile flooring, Chef cabinet layout, granite counters throughout, designer closet in master with separate walk-in shower and soaking tub, open corner sliding glass patio door, expanded walk-in pantry, plantation shutters, and more. Fully owned, 35 solar panels. Stainless steel appliances.

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9533 E Solina Avenue Mesa, AZ 85212

$689,900

3 Beds

2.5 Baths

2,703 SqFt

Status Active

MLS # 6698544

Property Type Single Family Residence

Price Type --

INCREDIBLE 3 bed, 3 bath, PLUS teen AND flex room in this remarkable like-new residence nestled in the Eastmark Community! They say location, location, and you are in heart of it all! Incredible community with high-end amenities, easy access to multiple freeways, and shopping! The stunning chef's kitchen is a cook's delight offering a wall oven, white cabinetry adorned with crown molding, quartz counters, SS appliances, chic mosaic backsplash, walk-in pantry, butler's pantry, & an island complete with a breakfast bar. The main suite boasts soft carpet, a private bathroom with dual vanities & walk-in closet with pass-through. Let your creativity flow in the charming backyard, providing plenty of potential to become your own private oasis! Don't wait for new, see it today!

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