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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1372 E Carla Vista Drive Chandler, AZ 85225

$675,000

4 Beds

3 Baths

2,676 SqFt

Status Active

MLS # 6763242

Property Type Single Family Residence

Price Type --

Beautifully updated 4 bedroom, 3 bath home with a pool in a prime Chandler location—no HOA! With a new roof, high-efficiency HVAC units, and solar, this home is a must-see. It boasts a formal living and dining area, a spacious family room with a gas fireplace, flowing into a large kitchen with an island breakfast bar, eat-in area, ample cabinets, and granite countertops. The main floor includes a bedroom/office and a full bathroom. Upstairs, you'll find two generous bedrooms and a primary suite featuring double sinks, a separate tub and shower, and a walk-in closet. The backyard is an entertainer's dream, offering a large covered patio, sparkling pool, beautiful grass, built-in BBQ, and a beehive fireplace. Additional highlights include a 3-car garage with built in cabinets and a drive-through door to the backyard to an extended concrete pad. Conveniently located just a short walk from Pima Park, award-winning BASIS school and Sanborn Elementary schools minutes away, close to Intel, Wells Fargo Center, and Downtown Chandler.

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15802 N 71st Street Unit 256 Scottsdale, AZ 85254

$675,000

2 Beds

2 Baths

1,540 SqFt

Status Active

MLS # 6770000

Property Type Apartment

Price Type --

Welcome to the Landmark's supreme location flanking the Acacia Golf Course & walking distance to Kierland Commons! True resort-like living w/concierge, guard gate, porters, swimming pool, wine storage, BBQ, pizza ovens, aps, fitness w/lockers, pet are. Freshly painted spacious 2bed/2bath roomy dining, living, kitchen w/elevated finishes, appliances, travertine, granite. Large laundry room. Large covered patio w/views of McDowell Mountains. Two storage & Two parking spaces. Price includes most furnishings!

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177 S Ellison Road Coolidge, AZ 85128

$675,000

4 Beds

3 Baths

2,419 SqFt

Status Active

MLS # 6770194

Property Type Single Family Residence

Price Type --

This beautifully crafted 2021-built country home, set on a spacious two-acre lot, offers the perfect blend of modern comfort and rural charm. Spanning 2,419 sq. ft., the home features 4 bedrooms plus a versatile den/office, providing ample space for family, work, and guests. The master suite is a luxurious retreat, with an expansive bedroom, a spa-like bathroom complete with a large walk-in shower, and an oversized closet. The heart of the home is the gourmet kitchen, boasting a massive island, perfect for meal prep and gatherings, as well as an oversized pantry for all your storage needs. A dedicated laundry room offers additional storage space. Outside, enjoy the benefits of irrigated land, perfect for gardening or landscaping to your heart's content. This home offers country living at its finest, with modern amenities and plenty of room to grow.

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2700 N Horseshoe Street Unit 69 Flagstaff, AZ 86004

$675,000

2 Beds

2 Baths

1,557 SqFt

Status Active

MLS # 6772735

Property Type Townhouse

Price Type --

Discover the perfect AIR CONDITIONED home in the exclusive Saddleback Lodge at Continental Country Club! This fully furnished, SINGLE-LEVEL townhome invites you to unwind on a private deck with breathtaking golf course views surrounded by the serenity of mature trees and lush landscaping. Includes a 1-car garage, fireplace, stainless appliances appliances, and proximal to the clubhouse, restaurant, pools and resort amenities such as pickleball & fitness center. Whether for a weekend getaway or a long-term escape, this beautifully remodeled home offers unmatched comfort & convenience - an investment you will return to again and again! 2nd Bedroom currently being utilized as a den/office.

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4270 Blacksmith Way Wickenburg, AZ 85390

$675,000

2 Beds

2.5 Baths

1,999 SqFt

Status Active

MLS # 6770391

Property Type Single Family Residence

Price Type --

This beautifully upgraded Hotel California model in Wickenburg Ranch offers the perfect blend of elegance and functionality. Situated on a premium corner lot, the home features 2 bedrooms, 2.5 bathrooms, a rare find for this model, and an open floor plan designed for modern living. The upgraded kitchen boasts a large island and a premium gas stove package, ideal for home chefs and entertaining. The guest bedroom is thoughtfully extended by 2 feet, complete with an en suite bathroom for added privacy. The entire home showcases unique upgrades with stylish tile flooring, upgraded lighting fixtures, and ceiling fans throughout. Outside, the spacious backyard impresses with extensive landscaping and a large paver patio, perfect for outdoor gatherings. The three garage offers custom cabinetry, epoxy flooring, and a mini-split AC, providing extra comfort and storage solutions. This home is move-in ready with every detail meticulously planned for luxury living.

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4083 S San Carlos Drive Globe, AZ 85501

$675,000

4 Beds

4 Baths

3,934 SqFt

Status Active

MLS # 6771870

Property Type Single Family Residence

Price Type --

This immaculate 4 bedroom 3 1/2 bath home sits on almost two acres with spectacular 360 views. There is plenty of space for entertaining in the formal living room, den with a wood burning fireplace, bonus room and formal dining room. Enjoy the beautiful manicured yard with mature fruit trees and relaxing outdoor patio. This home brings the outside in with three atriums and skylights throughout the house. The stainless steel appliances in the kitchen are newer and both heating/cooling units have been replaced in the last 6 months. There are double pane windows throughout the house for natural light and energy efficiency. Every inch of this elegant home has been lovingly maintained. Seller is offering an $8000 flooring allowance to buyer

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6501 W Crocus Drive Glendale, AZ 85306

$675,000

4 Beds

3 Baths

2,561 SqFt

Status Active

MLS # 6772871

Property Type Single Family Residence

Price Type --

Take advantage of this charming tri-level home with no HOA! This beauty displays brick accents, a verdant front yard, a 3-car garage, and a courtyard. Be welcomed by an inviting living room adorned with vaulted ceilings, plantation shutters, and a trending palette complemented by beautiful wood-look tile flooring. Continue onto the lower level and find formal dining and sizable family rooms featuring a brick-wall fireplace, great for cold evenings. Kitchen is fully equipped with granite counters, white cabinetry, a tile backsplash, recessed lighting, a pantry, and a breakfast nook. Upstairs, the main retreat has plush carpeting, a pristine ensuite with dual sinks, and a walk-in closet. Out the back, you have a covered patio & a refreshing pool ready to enjoy. Don't miss out!

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7837 E Carefree Estates Circle Carefree, AZ 85377

$675,000

2 Beds

2.5 Baths

2,282 SqFt

Status Active

MLS # 6772979

Property Type Single Family Residence

Price Type --

Step into a beautifully renovated, single-level retreat, masterfully designed by a renowned architect. This modern oasis features a sought-after south-facing back patio, perfect for enjoying your morning coffee or grilling in the afternoon sun. Inside, you'll find two generously-sized master suites, offering versatile living options. The cozy den, with its expansive windows overlooking the serene surroundings, is an ideal space for a reading nook or a home office. Constructed with durable and timeless slump block, this home boasts abundant natural light, thanks to numerous windows. During cooler months, the inviting fireplace adds a touch of warmth and ambiance. Full-time resident or seeking a low-maintenance getaway, this home offers the perfect blend of comfort, style & ease of living

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4939 E Roberta Drive Cave Creek, AZ 85331

$675,000

3 Beds

2.5 Baths

2,016 SqFt

Status Active

MLS # 6775602

Property Type Single Family Residence

Price Type --

Updated 3 BR, 2.5BA home, den/office downstairs, game/media area upstairs, in the heart of Tatum Ranch. Stunning finishes throughout. All new master bath vanity & 2nd bath, luxury vinyl flooring & baseboards w entire interior painted. All new plumbing fixtures, door hardware, ceiling fans, lighting, 2'' blinds, updated front & back yard. Kitchen features stainless steel appliances, granite countertops, gas stove, soft close cabinets, under & above cabinet lighting! Master bath w dual sinks, soaking tub, walk-in shower, custom walk-in closet. Spacious low maint backyard w covered patio & synthetic turf. North/south oriented lot backing to a desert offers privacy. New garage epoxy floor, w/cabinets. Close to Desert Ridge, great schools, Dynamite park & shopping.

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3222 N Sagewood Circle Mesa, AZ 85207

$675,000

3 Beds

2 Baths

1,794 SqFt

Status Active

MLS # 6773702

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the desirable Las Sendas community of Mesa, AZ! This stunning single-level 3-bed, 2-bath residence boasts an updated kitchen featuring granite counters and a gas cooktop, perfect for culinary enthusiasts. Enjoy the airy feel of vaulted ceilings and sleek vinyl flooring throughout. The primary bedroom offers a cozy sitting room ideal for an office, yoga space, or nursery. Situated on a peaceful cul-de-sac lot, this home includes a spacious 3-car garage. Step outside to your private backyard oasis with a refreshing pool and a rooftop deck showcasing breathtaking mountain and sunset views. Plus, save on energy costs with the installed solar system. Don't miss out on this perfect blend of comfort and luxury!

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15240 N Del Ray Drive Fountain Hills, AZ 85268

$675,000

3 Beds

2 Baths

1,343 SqFt

Status Active

MLS # 6775272

Property Type Single Family Residence

Price Type --

Looking for the perfect ''lock-and-leave'' home where you can stargaze every night? Look no further! This beautifully updated property boasts a fully remodeled interior, including new floors, kitchen, and bathrooms, so all you need to do is unpack. With 3 cozy bedrooms and 2 bathrooms, this home is designed for comfort. The backyard is perfect for entertaining year-round, featuring a pool, covered patio, gazebo, and hot tub. Enjoy ultimate privacy with the serene desert wash right behind you. The open kitchen and living area create an inviting space for relaxation. Nestled in a peaceful neighborhood, you'll love the tranquility of this quiet community. As the ''snowbirds'' flock to Fountain Hills for the ideal Arizona season, this home is the perfect getaway.

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17166 W Alice Avenue Waddell, AZ 85355

$675,000

4 Beds

3 Baths

2,542 SqFt

Status Active

MLS # 6775606

Property Type Single Family Residence

Price Type --

Built in 2019 by semi-custom home builder, Elliot Homes, you'll see the luxury displayed in every aspect of this home. Open and inviting living and dining area surrounding the gourmet chef's kitchen keeps all your family and friends together for fun days and relaxing nights. Oversized 16 foot sliding glass doors lead to the resort-like backyard with custom pool and baja step for relaxing in the sun. The entire extended back patio and surrounding pool deck is coated in a non-slip rubber coating that lets you enjoy the entire outdoor area without burning your feet, you simply have to check it out! With almost $100,000 in upgrades and landscaping, living in this home will make you feel like you're living at a resort! The children's play park is located diagonally across the street 🙂

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