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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8746 W Denton Lane Glendale, AZ 85305

$679,990

4 Beds

3 Baths

2,866 SqFt

Status Active

MLS # 6744884

Property Type Single Family Residence

Price Type --

MLS#6744884. Ready Now!! The Bradshaw at Stonehaven is a beautiful single-level home featuring 5 bedrooms, 3 baths, and a study. From the moment you step inside, the open floor plan creates a bright and welcoming atmosphere. The heart of the home is the island kitchen, which seamlessly connects to the dining area, large gathering room, and covered outdoor living space, making it perfect for entertaining. The private owner's suite is located at the back of the home, offering a spacious walk-in closet and a luxurious, spa-like bathroom. At the front of the home, you'll find four secondary bedrooms, a study, and an oversized laundry room. Structural options include: bedroom 5 and bath 3 in lieu in of tandem, 12' x 8' sliding glass door, shower in lieu of tub at secondary bath, and gas line for future outdoor kitchen.

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2933 W Tumbleweed Drive Phoenix, AZ 85085

$679,990

4 Beds

3 Baths

2,422 SqFt

Status Active Under Contract

MLS # 6733414

Property Type Single Family Residence

Price Type --

Discover your North Phoenix oasis in this upgraded split-level gem! Boasting 4 bedrooms, 3 full bathrooms, and a versatile den convertible into a 5th bedroom, this home promises comfort and style at every turn. Modern upgrades abound, featuring wood plank-style tile, coffered ceilings, 8' doors and custom lighting throughout with fresh paint and new carpet. Enjoy a gourmet kitchen with granite countertops, custom glass tile backsplash, upgraded cabinets, and stainless steel appliances including a gas range with double ovens. Entertain effortlessly with a great room wired for surround sound, pre-wired TV mounts, and a three car garage with epoxy/chip coated floor for easy maintenance. Plus, an OWNED solar system ensures energy efficiency and cost savings. You don't want to miss this one!

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13055 W Eagle Talon Trail Peoria, AZ 85383

$679,975

2 Beds

2 Baths

2,101 SqFt

Status Active

MLS # 6754883

Property Type Single Family Residence

Price Type --

Yes, the joy of community living in 55+ Trilogy at Vistancia. Enjoy walking trails, golf course views, Kiva Club spa in an award winning Guard Gated oasis. Serenitas Model Tall Ceilings greet you at the formal entrance. Large Dining Rm perfect for sharing your favorite meals w/friends & neighbors. Gourmet Kitchen with convection/standard oven, extra large Island for gathering conversation during snack preparation. Large Great Room for sharing sports, great conversations or movies. South facing backyard for warm Arizona sunshine days + shade when you want under the large covered patio. Light bright Primary BR with bay window to enjoy the outdoor light. Two separate closets, all tile upgraded walk-in shower, separate sinks & vanity. Study/hobbie RM east facing for blue skys all day long.

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12484 W Calle De Baca -- Peoria, AZ 85383

$679,949

4 Beds

3 Baths

2,649 SqFt

Status Active Under Contract

MLS # 6747087

Property Type Single Family Residence

Price Type --

Discover the perfect blend of luxury and versatility at 12484 W. Calle De Baca in the rapidly growing community of Lake Pleasant Heights in North Peoria. This exceptional NextGen home offers an innovative living solution with a private suite that includes its own entrance, living area, full kitchen with granite countertops, bedroom, bathroom, washer & dryer, separate A/C & thermostat, with private patio and separate one car garage, that is perfect for multi-generational living, a home office, or guest accommodations. This meticulously maintained home features 4 spacious bedrooms and 3 bathrooms, designed with an open-concept layout that seamlessly connects the gourmet kitchen, dining, and living areas. The kitchen is a chef's dream with granite countertops, high-end stainless steel appliances, and a large island perfect for entertaining. Outside, you'll find a beautifully landscaped backyard with a covered patio, pavers, and brand new artificial grass making this private space ideal for enjoying Arizona's sunny days and warm evenings. Residents of the Mystic community enjoy access to the community pool, spa, workout facility, as well as media and recreation room! Along with proximity to top-rated schools, shopping, dining, and recreational amenities, this NextGen home is a rare find that caters to modern living needs. Buyers currently living in Maricopa or Pinal County ask about an ADDITIONAL $7,000 home buyer credit available via the Community Promise Program. Rate Relief Rebate Program: Benefit from a 2% seller credit to reduce your mortgage payments by Approximately $692/month in year 1 and $354/month in year 2. This exclusive offer makes homeownership more affordable now, while you await potential rate decreases.

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5328 N Cordes Drive Eloy, AZ 85131

$679,900

3 Beds

3.5 Baths

2,489 SqFt

Status Active

MLS # 6772685

Property Type Single Family Residence

Price Type --

BEAUTIFUL home w/CASITA, SPA, PAID SOLAR & NEW AC unit! Kitchen features Custom staggered cabinets, wall oven & microwave, Granite counters, pot filler over the GAS stove & wine cooler. Master has bay window, crown molding & custom closet system. Den w/custom built-in shelving & desk. Surround Sound throughout. Entertainment center & TV stay! Sellers just replaced back windows & slider. Casita has Murphy bed, closet & full bath. Garage has a 4 ft extension, AC, new water softener & water heater, 50 AMP RV Hookup, epoxy flooring, workshop & built-in cabinets. The nearly 14,000 sq ft backyard is perfect for Entertaining! New Hot Tub, new landscaping w/lighting, 2 GAS FIRE PITS & Outdoor kitchen w/new built-in Grill w/searing burner covered by large custom pergola. Come see today!

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13332 W Palo Verde Drive Litchfield Park, AZ 85340

$679,900

5 Beds

3.5 Baths

4,464 SqFt

Status Active

MLS # 6654021

Property Type Single Family Residence

Price Type --

Nestled in the prestigious gated community of Dreaming Summit, this exquisite home is just a stroll away from top-notch schools, welcomes you with open arms. New Turf landscape for both front and rear yards provides for more time to relax with friends and family. The custom leaded glass front door sets the tone for the elegance that awaits inside. Discover a harmonious blend of spacious living and refined aesthetics with 5 generously-sized bedrooms, 3.5 baths, and ample space for the whole family. Revel in the details, from the sleek tile and easy-care laminate flooring, along with a spacious 3-car garage and new RV gate, add a touch of luxury to everyday living. Picture yourself unwinding on the extended patio, overlooking a picturesque backyard oasis complete with a sparkling swimming pool, and breathtaking mountain views. This home is not just beautiful but also functional, boasting an enormous chef inspired kitchen with island, stainless steel appliances and double wall ovens. It's a turnkey masterpiece! The grand main suite is a retreat within itself and deluxe ensuite bathroom with dual vanities, soaking tub and separate shower. Experience the grandeur that awaits in every corner of this remarkable residence! Your dream home is ready for you! Litchfield Park is a picturesque city nestled in the West Valley of the Phoenix metropolitan area. Known for its tree-lined streets, manicured lawns, and a mix of historic and modern architecture, the city offers residents a serene and welcoming environment. The city hosts various events and festivals throughout the year, fostering a strong sense of community among its residents. The Wigwam Resort, a historic landmark in the area, adds to the city's appeal with its luxurious amenities and world-class golf courses. There are countless beautiful parks and green spaces as well as the Wildlife World Zoo, Aquarium & Safari Park, both located nearby, offering an exciting adventure for families and animal lovers. Foodies will enjoy the vast range of dining options from cozy cafes to upscale fine dining.

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8351 E Monte Avenue Mesa, AZ 85209

$679,900

2 Beds

2 Baths

2,920 SqFt

Status Active

MLS # 6679154

Property Type Single Family Residence

Price Type --

This Extraordinary home offers wide open living space. Open kitchen to family room to large eating area is entertaining and family orientated. Home also offers a formal dining area. The Double Master Bedroom set up for both family and guests. A third bedroom/den gives even more space when needed. The kitchen has a Breakfast bar, plus an island. Appliances are top of the line Kitchen Aide including the trash compactor. The granite counter tops are beautiful. Upgraded tile flooring with carpet in all the right places. The huge main master is a suit with plenty of room. The home sits on an oversized lot offering the owner to set up a resort style entertaining. Larger two car garage with cabinets & workshop with room to park the golf cart. Sunland Village East Offers loads of activities and events. Low HOA Fee of $825 annually.

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7180 E Kierland Boulevard Unit 204 Scottsdale, AZ 85254

$679,900

1 Bed

1 Bath

773 SqFt

Status Active

MLS # 6701124

Property Type Apartment

Price Type --

PRICE IMPROVED! Don't miss out on this AMAZING opportunity to own a FULLY FURNISHED home at Optima Kierland, the ultimate in luxury lifestyle starts here! Urban walkability and resort style amenities await you. Luxurious one bedroom suite with floor to ceiling windows & a glass door that opens to a large covered terrace with gorgeous courtyard views! Stainless steel Bosch appliances, gas cooktop and full size stacked washer and dryer. Amenities include a rooftop pool and spa, running track, cabana seating,state of the art fitness center, locker rooms, hot/cold plunge, sauna & steam rooms,massage room, indoor basketball court, gaming room, golf simulator, putting area, bocci ball, business center, conference rooms and so much more. Walking distance to Scottsdale Quarter & Kierland Commons

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1412 N Bernard -- Mesa, AZ 85207

$679,900

4 Beds

3 Baths

2,752 SqFt

Status Active

MLS # 6703900

Property Type Single Family Residence

Price Type --

Step into luxury living with this stunning 3-bedroom plus den, 3-bathroom oasis boasting breathtaking mountain views. Nestled in a serene neighborhood, this home offers more than just comfort—it offers an experience. As you enter, natural light floods the spacious den, perfect for a home office or cozy reading nook. Glide into the heart of the home, where a chef's kitchen awaits, adorned with granite countertops, an expansive island, and top-of-the-line appliances. Whether you're whipping up a gourmet meal or hosting a gathering, this kitchen is your culinary sanctuary. Easy access to the 202. Relaxation knows no bounds in the master suite, complete with its own ensuite bathroom and a private patio overlooking the pool and majestic mountains beyond. Two additional bedrooms offer ample space for family or guests, each designed with comfort in mind. Step outside into your personal paradise, where a sparkling pool awaits refreshment on warm summer days. Entertain under the stars on the expansive patio, or simply soak in the tranquil ambiance of the surrounding landscape. Convenience meets luxury with the addition of an RV gate, providing easy access for all your outdoor adventures. Whether you seek relaxation, adventure, or simply a place to call home, this property offers it all. Live the lifestyle you deserveschedule your showing today.

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10633 E Sheffield Drive Mesa, AZ 85212

$679,900

3 Beds

2.5 Baths

2,475 SqFt

Status Active

MLS # 6726269

Property Type Single Family Residence

Price Type --

Welcome to your oasis in Mesa's Eastmark community! Showcased like a MODEL home by the ORIGINAL owners, this stunning residence offers the opportunity to own a highly desirable floor plan that rarely becomes available. Enjoy the spacious layout featuring 3 bedrooms PLUS a den, ideal for today's lifestyle. The gourmet kitchen boasts DOUBLE ovens, GAS range, stainless steel appliances, and a large island, complemented by a charming white subway tile backsplash. Relax in the luxurious master suite featuring a huge walk-in shower, dual sinks, and a walk-in closet with direct access to the laundry room. All enhanced by wood plank-look tile flooring throughout. Outside, entertain effortlessly with a built-in barbecue, bar/counter seating, and an in-ground spa surrounded by travertine! set amidst a manicured, low-maintenance backyard. Why wait months for a builder when you can have this like-new beauty complete with modern custom upgrades!

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2851 N Ricardo -- Mesa, AZ 85215

$679,900

3 Beds

2 Baths

2,691 SqFt

Status Active

MLS # 6750965

Property Type Single Family Residence

Price Type --

BACK ON MARKET-SELLER WILL PROVIDE UP TO $20,000 FOR BUYERS CLOSING COSTS AND/OR INTEREST RATE BUY DOWN with acceptable offer. Beautiful home in great northeast Mesa location. Just minutes from the Salt River and near shopping and entertainment centers. Brand new roof with 30 year transferable warranty, large 3 car garage with upgraded electric, ramada, large covered patio, open paver patios, large private back yard with water feature. The interior has an open floorplan with vaulted ceilings, fireplace, french doors, MB with bath large walk in shower, updated kitchen with large island, granite counters and custom backsplash, custom built ins, upgraded lighting, 2'' wood blinds, and wood look tile flooring. Owner occupied. Please give 1 hour notice to show. Agent is related to seller.

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10337 E Brown Road Mesa, AZ 85207

$679,900

3 Beds

2 Baths

2,238 SqFt

Status Active

MLS # 6756063

Property Type Single Family Residence

Price Type --

**PRICE REDUCED! HORSE PROPERTY, AMAZING INVESTMENT POTENTIAL WITH RU43 ZONING! Welcome to this expansive 3-bedroom, 2-bathroom ranch-style home in Mesa, sitting on OVER AN ACRE OF LAND! With 2,238 sq. ft. of living space and a total lot area of 46,623 sq. ft., this property is perfect for those seeking space, privacy, and versatility. As you enter, you'll notice the tile flooring throughout the house, adding durability and a cohesive look. The spacious living and dining areas provide ample room for gatherings and family time. The kitchen features a convenient island and plenty of cabinets, making it ideal for cooking and storage. The bedrooms are generously sized, with the primary suite offering a walk-in closet and a bathroom with double sinks for added comfort. There's also an indoor laundry hookup for your convenience. The exterior boasts a huge covered patio, ideal for outdoor entertaining or relaxing in the shade. The roof was updated in 2016, and the brand-new A/C unit ensures the home stays cool year-round. The water heater was replaced in 2023, giving you peace of mind. This property is a horse lover's dream, featuring a stable and corral with plenty of space for riding or caring for animals. An additional garage and shed provide extra storage, and with over an acre of land, there's ample room for expansion or customization. There's also potential to convert part of the home into a separate apartment, creating opportunities for rental income or multi-generational living. The motivated seller is ready to make a deal, so don't miss out on this fantastic opportunity to own a spacious, versatile property in a great Mesa location.

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