NAR Data Shows Now Is a Great Time to Sell!

NAR Data Shows Now Is a Great Time to Sell! | Simplifying The Market

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).

NAR Data Shows Now Is a Great Time to Sell! | Simplifying The Market

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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42715 N Courage Trail Anthem, AZ 85086

$685,000
3 Beds
2 Baths
2,458 SqFt
Status Active
MLS # 6777081
Property Type Single Family Residence
Price Type --
You will be blown away by the stunning Anthem property located in Anthem Parkside. This former model home has 3 bedrooms 2 bathrooms, a separate den/office and a great room! This home sits on a 10,000 sqft lot with a 3 car garage. The kitchen has ample amounts of storage and opens up to the living room where you can relax and get cozy by the fireplace. The master bathroom has dual sinks, walk in closet, garden tub and shower. The backyard is equipped with everything you need to entertain in the extremely inviting oasis. Enjoy the Bullfrog Hot Tub under the stars while your chef created master piece cooks in the wood fire pizza oven. To top off a lovely evening serve up a slice of pizza under the pergola while staying warm by the fire pit to create a unique dining experience

601 E Clarendon Avenue Phoenix, AZ 85012

$685,000 - 4Br/3Ba -  for Sale in Alamo Place Amd, Phoenix
Open House
$685,000
4 Beds
3 Baths
2,186 SqFt
Status Active
MLS # 6765156
Property Type Single Family Residence
Price Type --
Welcome to this modernized 4-bedroom, 3-bathroom home that combines comfort and convenience in a desirable uptown location. The spacious primary suite offers a cozy sitting area, a generous walk-in closet and private balcony overlooking the lush secluded back yard. The updated kitchen is a highlight, featuring an island with granite countertops and stainless-steel appliances that opens seamlessly to the dining and family rooms, all warmed by a stylish dual-sided fireplace. This layout is perfect for both everyday living and entertaining guests. Step outside to the lush, landscaped backyard, complete with flower beds and a covered patio, ideal for outdoor relaxation. You'll also appreciate the detached 2-car garage, a rare find in the area, offering extra storage and convenience. Additional features of this home include new mechanicals, appliances, and roof (all updated in 2020); New sewer line replaced in 2024; Energy-efficient tankless water heater; USB charging outlets in all bedrooms and a Whole house water conditioning system installed by Aquasana. With so many amenities and a fantastic location, this home is a must-see.

2213 W Virgil Drive San Tan Valley, AZ 85144

$685,000 - 3Br/2Ba -  for Sale in Chandler Heights Ranches Unit Iii, San Tan Valley
Open House
$685,000
3 Beds
2 Baths
1,870 SqFt
Status Active
MLS # 6707507
Property Type Single Family Residence
Price Type --
Bordering the picturesque backdrop of San Tan State Park, this Arizona oasis offers a harmonious blend of luxury and natural beauty. Breathtaking views and sunsets can be seen unobstructed by other homes and properties not only from the spacious back patio, but also through the living room bay window and gourmet kitchen. The kitchen features an oversized island that opens to the living room and tall, warm wood cabinets complete with crown molding, soft close doors and drawers, topped with premium granite countertops. Sheltered beneath a steel 60 ft x 24 ft, 5 stall vehicle shade, your vehicles will find relief from the Arizona sun and can accommodate not only cars, but also trailers, equipment, horses or any other outdoor items. Buyer to verify all material facts and measurements. The garage is not just a storage space; it's a well-equipped workshop, featuring insulated walls, a dedicated mini-split system that provides 648 square feet of air-conditioned space, 220v DeWalt air compressor with metered compressed airline connections, and a 200-amp subpanel with multiple 220v outlets for heavy duty equipment. The main bedroom serves as a private retreat, with a convenient door leading to the back patio. While the main bathroom offers a spa-like experience with a walk-in shower with elegant tile work from floor to ceiling, a private lavatory and walk-in closet. The additional bedrooms are oversized which can easily accommodate a king-sized bed with plenty of space for other large furniture. The back patio can be accessed from the leaving room leading to fenced backyard with a spanning with ample space for outdoor activities and relaxation. Adjacent to it lies a generous fenced side yard complemented by a shaded chicken coop measuring 20 ft x 10 ft with 8 nesting boxes. This property is more than just a home; it's a sanctuary where luxury meets functionality and natural beauty.

25940 N 22nd Lane Phoenix, AZ 85085

$684,990
4 Beds
3 Baths
2,618 SqFt
Status Active
MLS # 6779633
Property Type Single Family Residence
Price Type --
Welcome to this beautifully designed Pinnacle plan, offering 2,618 square feet of luxurious living space. With its charming Spanish 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 charcoal stained shaker cabinetry all accented by stylish square satin nickel cabinet hardware. The 42'' upper cabinets and 3'' crown molding perfectly complement the kitchen which showcases beautiful Carrara Breeze quartz countertops, adorned with delicate veining, and a contemporary marble mosaic backsplash. The large single basin stainless steel sink, paired with a Moen Align spot resistant stainless kitchen faucet, adds both functionality and style. Retreat to the luxurious bathrooms featuring white cultured marble countertops with rectangular sinks and Moen Eva brushed nickel 8 widespread faucets. Upgraded Melrose brushed nickel vanity lights illuminate your space. The Dal Tile Hill HOuse 6x36 wood look tile flows seamlessly throughout the downstairs and into bath 2 and the laundry room upstairs. The primary bathroom showcases elegant 12x24 Bianco Carrara Matte tile, providing a spa-like experience. Upstairs, a tasteful paint grade mission stair rail enhances the home's character and is complimented by plush Shaw Kennfield carpet in the shade Ecru adds warmth and comfort, all trimmed with upgraded 4 ¼ baseboards. Throughout, the 8' interior doors adorned with satin nickel 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 urban meets suburban living! Tree-lined streets, pedestrian-friendly sidewalks and a 5,500 square foot recreation center with resort style pool an kiddie pool, shaded ramadas, parks, gathering areas, pickleball courts and basketball. Close to I-17, 101 and 303. Walking distance to restaurants, movies, entertainment, and shopping.

682 E Coho Drive San Tan Valley, AZ 85140

$684,990
4 Beds
3 Baths
2,513 SqFt
Status Active
MLS # 6768788
Property Type Single Family Residence
Price Type --
Estimated completion November 2024! - Welcome to Edgewood Estates! This stunning home features the popular Belfast plan, offering 4 bedrooms and 3 bathrooms. The interior boasts beautifully designed Loft-inspired selections, including a chef's kitchen with sleek white cabinets, stylish floating shelves, sparkling white quartz countertops, and a spacious island. The great room, with its vaulted ceiling, creates a perfect space for relaxation or entertaining. The private primary suite provides a serene retreat, complete with a spa-like bathroom and a large walk-in closet. Additionally, this home includes an Extra Suite Plus with a private entrance, perfect for multi-generational living or offering guests maximum comfort and privacy. Homes have been significantly discounted and have the option of short/long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

18950 W Ocotillo Road Waddell, AZ 85355

$684,990
4 Beds
3 Baths
2,623 SqFt
Status Active
MLS # 6739881
Property Type Single Family Residence
Price Type --
Topaz floor plan with 4 bedrooms + study, 3 baths. Large multi slide door off the great room and leads out to the extended covered patio. Pavers at drive, walk and entry. Stainless steel 36'' gas cooktop, wall oven, micro, canopy hood. Sonoma Maple Slate (gray) cabinets with pull out trash drawer, 42'' kitchen uppers, and stainless steel under mount single bowl kitchen sink. Himalaya white granite countertops in kitchen and owner's bath. 8' tall interior doors. Upgrade flooring includes EMS Novales 12x24 Astra tile in all areas of the home except beds/closets. 5'' baseboards and 3 1/4 door casings throughout. Dual sinks at bath 2, 8' tall garage door with two controls, garage service door for easy access into the backyard and so much more. Completion in September.

3002 W Josiah Trail Queen Creek, AZ 85144

$684,990
4 Beds
3 Baths
2,481 SqFt
Status Active
MLS # 6750855
Property Type Single Family Residence
Price Type --
Welcome to this beautifully maintained 4-bedroom, 3-bathroom home with an office/den which is nestled in the mountains of San Tan Valley, AZ. This spacious property boasts a modern open floor plan, with a gourmet kitchen featuring upgraded kitchen cabinets and quartz countertops. The large master suite offers a private retreat with a walk-in closet and luxurious ensuite bathroom with a claw foot soaking tub. Enjoy the expansive views of the valley from the living room and outdoor patio. The large 1.25 acre backyard is perfect for entertaining, storing your RV and many endless possibilities. Located in a quiet, family-friendly neighborhood, where your home is the last home on the street which is perfect for your added privacy. This home is a must-see!

3054 E Rochelle Street Mesa, AZ 85213

$684,900
4 Beds
3 Baths
2,776 SqFt
Status Active
MLS # 6779469
Property Type Single Family Residence
Price Type --
Welcome to this charming two-story home located in the desirable gated community of Lehi Crossing. Featuring a large kitchen island with quartz countertop situated near a wall of floor-to-ceiling sliding doors that open to a backyard oasis with saltwater pool, pergola and low maintenance turf, this home is perfect for entertaining. The downstairs guest room can be used for company or multi-generational living and an upstairs loft offers a versatile space for your family's needs. The air conditioning units, RO system, and salt cell for pool have recently been replaced. This home is conveniently located to freeway access and near community parks and walking paths.

3466 E Azalea Drive Gilbert, AZ 85298

$684,900
4 Beds
2.5 Baths
2,177 SqFt
Status Active
MLS # 6735445
Property Type Single Family Residence
Price Type --
Beautiful, highly upgraded home in desirable Bridges at Gilbert community, located near Gilbert Regional Park and great schools. This bright and modern home features one bedroom downstairs, great for a home office or entertaining. The living room is complimented by a beautiful kitchen with kitchen island, granite counter tops, and stainless steel appliances. Upstairs is floored with luxury vinyl with hardwood appearance, two large bedrooms, a comfortable master suite with a rain glass walk-in shower, a laundry room with washer, dryer and cabinets, and a loft. All windows are covered with shutters. The garage has an epoxy floor, the soft water system is owned. The huge, resort-like backyard features a paved and covered patio as well as a gazebo, perfect for those hot Arizona summers. A built-in barbecue and a gorgeous, heatable and coolable pool invite you outside anytime of the year.

7037 N 11th Drive Phoenix, AZ 85021

$684,900
3 Beds
3 Baths
2,761 SqFt
Status Active
MLS # 6759247
Property Type Townhouse
Price Type --
RARE FIND with MID-CENTURY CHARM * This Quiet Hidden Gem boasts 3BR 3Ba 2G located in a peaceful cul-de-sac community of 12 homes offering a unique blend of privacy and 2,761 interior space. This home is attached at garage only, adjacent to the Greenbelt with a side yard entrance to an over 7,800 sf lot. The largest lot in this subdivision. Enter through a private gated courtyard entrance showcasing an outdoor sanctuary. The front door from this courtyard oasis opens onto a landing with a solid wood entry door, flanked by side light window panels. Upon entering the front foyer, you're greeted by a skylight above a cornered mirrored wall, expanding the space that introduces you to the bedroom wing on the left and the eat-in kitchen to the right with a long gallery hall. . . The spacious eat-in kitchen boasts solid oak cabinetry, deep cabinets and shelves, with ample storage, including a large walk-in pantry. It features a built-in wall oven, built-in microwave, and both a center island and peninsula island, providing abundant counter space and a lighted tray ceiling, adding a touch of elegance and warmth. The breakfast nook is beautifully illuminated by natural light from sliding doors that lead to the front courtyard, complete with floor to ceiling custom built-in shelf case. The spacious Primary suite offers luxury with sliding door exit to front courtyard, 2 closets, one is walk-in while the other is lengthy and mirrored in the dressing area. The ensuite bath is light and bright with 2 skylights, dual sinks, sunken tub & private toilet room. The third bedroom (split), currently used as a library/den with an attached office, is perfect for multigenerational living or a mother-in-law suite. It has its own exit to the covered back patio, entrance from the garage, and a 3/4 bath. The office can also be converted into a spacious walk-in closet, providing endless possibilities for this guest suite space. The living room features near floor-to-ceiling custom windows, framing picturesque views of the lush backyard and filling the space with natural light. A central French door provides easy access to the outdoors, inviting you to step into the serene surroundings. The formal dining room is enhanced by a stunning 10ft high tray ceiling, illuminated with soft lighting, creating a grand yet intimate atmosphere. Together, these rooms provide a perfect balance of grandeur and charm, ideal for both everyday living and elegant entertaining. The private backyard features a block fenced lot surrounded by lush grass, mature shade & citrus tree, a storage unit, and the only property with alley access. This home is brimming with custom features and has been meticulously maintained by its original owner. Wood accent trim throughout and custom triple and dual pane wood-framed windows, in excellent condition, ensuring energy-efficiency and quiet living. HVAC units replaced in 2015 and 2017. Foam roof replaced in 2016. Patio Roof replaced Sept 2024. Home features inside laundry, water softener and whole house water filtration system. Ample storage throughout the home. HOA is self-managed. Monthly Fee covers cable, internet, Greenbelt & Main entrance maintenance and street maintenance. The home is well-maintained and ready to be enjoyed as-is, with only cosmetic updates needed to suit your personal style. The primary improvement required is replacing the carpet and interior paint, allowing you the flexibility to move in comfortably and update the space to your liking over time. Fantastic Uptown Phoenix location. Quick and easy freeway access. Minutes to downtown shops, dining and entertainment. This home is truly a must-see to fully appreciate its charm and potential. Don't miss this one - See it Today!

35925 N 30th Drive Phoenix, AZ 85086

$684,500
4 Beds
2 Baths
2,350 SqFt
Status Active
MLS # 6754194
Property Type Single Family Residence
Price Type --
Experience luxury living in this newly remodeled home featuring brand-new cabinets, state-of-the-art appliances, and elegant countertops. The remodeled bathrooms offer a spa-like retreat, while the spacious 3-car garage provides ample storage. Enjoy the benefits of a water softener and relax in the sparkling pool or chip & putt with your private putting green. Nestled in a prime Phoenix location, you'll have easy access to top-rated schools, shopping, dining, and entertainment.

33337 N Maverick Mountain Trail San Tan Valley, AZ 85144

$684,369
4 Beds
3 Baths
3,124 SqFt
Status Active
MLS # 6775177
Property Type Single Family Residence
Price Type --
Elegant new, Spanish-style home featuring 4-bedrooms, 3-bathrooms, a game room, an attached 3-car garage, and designer selections throughout! The kitchen boasts Gourmet appliance including a gas cooktop, extended kitchen cabinet, quartz countertops, and matching quartz kitchen back splash. Other upgrades include maple rye cabinets with 42'' uppers, 12 x 24 tile, upgraded carpet, and a roomy frameless walk-in shower with a rain can shower head. The exterior of the home boasts a covered patio with a gas line for a future BBQ and pavers at the driveway, walkway, and courtyard.

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