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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823 W Clay Avenue Flagstaff, AZ 86001

$675,000

6 Beds

2.5 Baths

2,422 SqFt

Status Active

MLS # 6738092

Property Type Single Family Residence

Price Type --

ATTENTION ARTISTS, INVESTORS, & SMALL BUSINESS OWNERS! Looking for the perfect work life balance? This super cool 6 BD 2.5 BR home in Old Town Flagstaff checks all the boxes! Zoned Highway Commercial, this mixed-use property provides a perfect place to call home while doubling as a workspace in the center of the busiest traffic corridor in Flagstaff. The nearby university and high-density residential areas pack in foot traffic to and from NAU. Clay Ave is a well known ''back street'' for motorists looking for a quick route from Butler or Milton to Route 66 and back. Tucked away from the hustle, but still in the heart of it all! The main level opens into a sizeable mud room that gives way to the main living room and guest bathroom. Through the kitchen, you'll find a second living space, flanked with a ¾ bathroom, laundry room and back bedroom with exterior access to what could be a parking lot area. At the center of the building, stairs lead you up to 4 unique bedrooms featuring built ins, a dormer window, and a full, separate bathroom. At the base of the stairs, the final 6th bedroom awaits, each with authentic wood floors serving the historic value of this home. Pine bead board, craftsman style windows, cottage glass doors, shiplap walls, nooks and crannies...this old soul house is as far away from millennial gray as you can get! Don't miss this one of a kind opportunity to own a true piece of art. Research the Downtown Mile Project for more area developments!

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15044 N Calle Del Prado -- Fountain Hills, AZ 85268

$675,000

3 Beds

2 Baths

1,653 SqFt

Status Active

MLS # 6767549

Property Type Single Family Residence

Price Type --

This modern home has a split floor plan with fireplace, tile floors, large great room with vaulted ceilings, modern kitchen, counter seating, large built-in pantry and separate laundry room. The primary bedroom has a separate office space/sitting room with large window. The primary bath ensuite has been updated with free standing luxury tub, round glass shower and vanity with double sinks. Located on one of the largest lots in the area, it is about 1/3 acre, completely walled in with a 12' wide RV gate, a stucco storage building 12x12, with additional covered area for boat storage or RV parking. The expansive back yard has a back gate to wash/greenbelt behind property which provides privacy and no homes directly behind you. Room to build private backyard oasis. Owner related to agent.

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26647 W Covey Lane Buckeye, AZ 85396

$675,000

3 Beds

2.5 Baths

2,736 SqFt

Status Active

MLS # 6746036

Property Type Single Family Residence

Price Type --

A stunning FURNISHED Voyage floor plan, where elegance & comfort converge. Enter through a private courtyard featuring a custom wrought iron gate & tranquil fountain. Inside you're greeted by warm hardwood flooring & soaring 10-foot ceilings, creating a welcoming & spacious atmosphere. The gourmet kitchen boasts chiseled granite countertops, perfectly complemented by faux wood beams & equipped with a oversized walk-in pantry. A stone-walled foyer adds a touch of sophistication, while the media wall offers an ideal space for entertainment. An impressive owner's suite features dual spacious walk-in closets. Interior arches add a unique architectural flair. Enjoy the convenience of a golf cart garage, along w/ the luxury of a covered patio & a cozy gas fire pit. Recent exterior paint ensures this home is as beautiful on the outside as it is on the inside.

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16160 W Indianola Avenue Goodyear, AZ 85395

$675,000

4 Beds

3 Baths

3,572 SqFt

Status Active

MLS # 6751096

Property Type Single Family Residence

Price Type --

Discover luxury resort living in an ideal location close to everything. Welcome home to one of the largest homes in Pebble Creek! This property boasts over 3500sf of living space with zero maintenance yard, 3 car garage, 4 bedrooms, 3 baths, office, primary bedroom has sitting room and his and her closets, hardwood floors, vaulted ceilings, large open kitchen with island, formal dining room, breakfast nook and a cozy Arizona room off the kitchen. The solar panel's are a HUGE bonus to this gem adding to extremely low cooling bills!

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4350 E Abraham Lane Phoenix, AZ 85050

$675,000

3 Beds

2 Baths

1,661 SqFt

Status Active

MLS # 6758239

Property Type Single Family Residence

Price Type --

PRICED TO SELL.... Perfect home in Desert Ridge. This well maintained home has open concept kitchen living room space, vaulted ceilings, updated kitchen with stainless steel appliances, backyard features low maintenance artificial turf and kids play ground that conveys with the home. If you want location then this is the home for you.

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50704 N 292nd Avenue Wickenburg, AZ 85390

$675,000

3 Beds

2 Baths

1,792 SqFt

Status Active

MLS # 6760426

Property Type Single Family Residence

Price Type --

5 ACRES with 360-degree view property! Breathtaking! Recently renovated Beautifully done! This is a uniquely constructed home that has been built on the top of the mountain. It has 2bdrm 2 baths with a loft, and a detached 2 car garage with carport and additional bedroom/guest room. The home has been completely updated with new kitchen cabinets, appliances windows split units new paint & fixtures. Internet tower connection to home comes with FREE internet. Has geo-thermal cooling! Along / solar panels (owned) for hot water. Wood burning fireplace and water filtration system also included. Light & Bright with windows for those incredible views, and quiet evenings star gazing. Call now to set up appointment to preview. Enjoy a True Arizona Lifestyle!

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229 E Alcatara Avenue San Tan Valley, AZ 85140

$675,000

3 Beds

2 Baths

1,928 SqFt

Status Active

MLS # 6761734

Property Type Single Family Residence

Price Type --

Welcome to Trilogy at Encanterra, a stunning Resort Community that offers a Lifestyle of Luxury and Leisure. Enjoy Exclusive Amenities such as 4 Pools and Spas, an 18-hole Private Golf Course, Pickleball, Tennis, Bocci Ball and so much more! Indulge in the On-Site Restaurant, Spa, Salon and Fitness Center. This Beautiful 3 bedroom/ 2 bath home features a Gourmet Kitchen, Spacious Bedrooms and Private Backyard Oasis. DON'T Miss the Opportunity to Experience true Resort-Style Living at its Finest. Come view this home today to witness the perfect blend of comfort and elegance in this immaculate home!! You will not be disappointed!

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19700 N 76th Street Unit 2169 Scottsdale, AZ 85255

$675,000

2 Beds

2 Baths

1,843 SqFt

Status Active

MLS # 6765007

Property Type Apartment

Price Type --

Gorgeous Village unit on a fantastic interior lot w/fresh new floors, fireplace surround, master bath, & interior paint. Spacious 2 beds plus den floor plan w/cinnamon cabinets, ss appliances, granite counters, newer ceiling fans, & large covered patio. South facing exposure and backing up to open space vs other condos make this a premium unit for your prospective buyers. The Village boasts a gated community w/3 pools, workout facility, lots of guest parking, and is extremely well managed. Location within Grayhawk means access to world class golf, shopping, dining, & easy freeway access. This unit is pristine so show it first as it may not last very long.

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805 E La Palta Street Queen Creek, AZ 85140

$675,000

3 Beds

2 Baths

1,927 SqFt

Status Active

MLS # 6759693

Property Type Single Family Residence

Price Type --

Resort Living in gorgeous Encanterra at the base of the San Tan Mountains. A Lifestyle that offers it all. Pickleball courts, tennis courts, bocce ball, 4 pools, spa, fitness center, restaurants, not one but two beautiful clubhouses. Last, but not least the stellar Tom Lehman designed golf course. Or you can also just sit back, relax in your own backyard or the many peaceful park like settings in the community. Now...here is the best part...how about an amazing home to go with the lifestyle? So many fun details! Sought after ''Nice'' floorplan with a rare third bedroom. South facing backyard floods the house with natural light. Desert landscape buffer between you and your neighbor for additional privacy. Covered patio, a multiple purpose room used for office and utility space. Split bedroom floor plan. Open concept living at its best. Come see this well-maintained home, you won't be disappointed.

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21320 N 56th Street Unit 1085 Phoenix, AZ 85054

$675,000

2 Beds

2 Baths

1,884 SqFt

Status Active

MLS # 6761032

Property Type Apartment

Price Type --

Spectacular 2 bedroom + office/den condo in the gated community of Bella Monte! Maple cabinets, slab granite and custom tile backsplashmake this kitchen pop! Gas & electric, enjoy premium cooking and a fireplace. Extra ordinary features include raised ceilings, walk in master shower, 2 cargarage, & covered patio.

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12603 W Blackstone Lane Peoria, AZ 85383

$675,000

5 Beds

4 Baths

2,943 SqFt

Status Active

MLS # 6762420

Property Type Single Family Residence

Price Type --

Beautifully Upgraded 5 Bed 4 Bath home with attached Casita with a separate entry door. This move in ready home has 2943 Sqft. of total living space. There is one bedroom on the main floor, along with a separate bathroom that has a shower/tub combo. The Casita has an additional bedroom. The kitchen includes Granite Countertops, Stainless Steel kitchen appliances, upgraded kitchen cabinets, a spacious pantry, and kitchen island with separate breakfast bar. and a separate formal dining room. There is a large Great room for family enjoyment too. Upstairs has 3 bedrooms and a good sized loft with a separate small workspace/craftroom . The laundry room comes with extra storage cabinets. The backyard provides an extended covered patio with paver flooring. Next to it is a built -in, gated, private pool with water feature. The garage has built-in cabinets and a water softener connected to the main waterline. Located in the sought-after Vistancia community, residents enjoy access to a plethora of amenities including parks, trails, a gym, 3 pools, waterslides, tennis & pickleball courts!

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7639 W Mauna Loa Lane Peoria, AZ 85381

$675,000

4 Beds

2 Baths

2,327 SqFt

Status Active

MLS # 6762331

Property Type Single Family Residence

Price Type --

Step inside to find a beautifully designed interior featuring vaulted ceilings, granite countertops, and an open-concept kitchen with high-top bar seating—ideal for easy entertaining and gatherings. The family room flows seamlessly from the kitchen, providing a bright, inviting space for relaxation. Two charming bay windows fill the home with natural light, while French doors lead to a covered patio where you can enjoy the outdoors year-round. Outside, your personal oasis awaits, complete with a sparkling pool and mature landscaping, perfect for entertaining or simply relaxing. The mature landscaping offers both privacy and beauty, creating the ideal setting for summer barbecues or quiet evenings under the stars. With its vaulted ceilings, blinds throughout, and thoughtful touches like double sinks in both bathrooms and wood flooring in high-traffic areas, this home is move-in ready. Plus, its unbeatable prime location puts you just minutes from the 101 Freeway, Peoria Sports Complex, Arrowhead Mall, and an array of dining and shopping options. Whether you're hosting friends or enjoying a quiet night in, this home offers it all. Don't miss this rare opportunity to own a home in one of Peoria's most sought-after communities. Inquire within today its a must see!

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