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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10430 E Breathless Drive Gold Canyon, AZ 85118

New

$675,000

3 Beds

2.5 Baths

2,225 SqFt

Status Active

MLS # 6780282

Property Type Single Family Residence

Price Type --

VIEWS, VIEWS, VIEWS! Ideally located on a SPRAWLING ACRE HOMESITE with CAPTIVATING VIEWS of Dinosaur Mountain and the Superstition Mountains, this NICELY UPDATED home exudes character and charm throughout! The 640 sq. ft. covered deck and adjacent pergola patio area offer perfect, PICTURESQUE locations to enjoy breathtaking sunrises/sunsets in a PRIVATE, PEACEFUL SETTING (the properties behind this home are located on lots larger than 3 acres). Delightful inside and out, this wonderful property offers a remodeled kitchen with granite countertops and beautiful cabinetry; newer HVAC systems; wood doors; upgraded flooring; stunning brick fireplace; main suite with MOUNTAIN VIEWS and separate spa/exercise room; 2 car garage; shaded pergola parking area; spacious, enclosed side yard; and more!

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8723 E Hillview Street Mesa, AZ 85207

New

$675,000

4 Beds

2 Baths

2,298 SqFt

Status Active

MLS # 6770992

Property Type Single Family Residence

Price Type --

This beautifully maintained 4-bedroom home, with an additional office and flex room, offers an abundance of living space, totaling 2,298 sqft. Featuring a den, family room, great room, and bonus room, this home is perfect for comfortable living and entertaining. The 10-foot ceilings, along with a mix of carpet and tile flooring, create a spacious and inviting atmosphere. Dual-pane low-E windows ensure energy efficiency. The large split primary bedroom includes a walk-in closet and a full bath for your privacy and convenience. The kitchen boasts granite countertops, a large island, ample cabinet space, and an eat-in kitchen. Step outside to a stunning backyard, beautifully landscaped with lush green grass, a patio for outdoor dining, and a sparkling pool complete with a rock water feature.

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8619 E Thornwood Drive Scottsdale, AZ 85251

$675,000

4 Beds

2 Baths

2,039 SqFt

Status Active

MLS # 6775667

Property Type Single Family Residence

Price Type --

You will LOVE this charming brick Hallcraft home near Old Town Scottsdale. A RARE find in this neighborhood - it not only has 4 bedrooms & 2 baths, but also a 2 car garage PLUS a 300 sq ft workshop/bonus room with laundry. That room is untapped potential! It has a private entrance from the backyard & would make the PERFECT detached home office, yoga/exercise room, art or pottery studio, a wood-worker's dream, game/movie/billiards room - you name it! Create the dream space that fits your lifestyle & needs - especially if you add a mini-split A/C & make that space temperature controlled! The charming eat-in kitchen was just completely remodeled in 2024. Beautiful white shaker cabinetry with stunning quartz counters, an apron front farmhouse sink, & new light fixtures. Stainless steel ... appliances - refrigerator included! GORGEOUS brand new wood plank vinyl floors & tall baseboards throughout the home plus neutral tile in the bedrooms & bathrooms - NO carpet! New front door plus security screen door, new kitchen door to side yard, & new slider door from bedroom #4 to front courtyard. Fresh exterior paint! No 'big ticket' projects needed here since the following items were done ... roof (2011), A/C (2015), water heater (2016), both bathrooms remodeled (2016), & more! The primary suite has his/hers closets with European opaque slider doors. One of the spacious secondary bedrooms has the new slider door to the home's front entry courtyard. Another one of the spacious secondary bedrooms has a charming window seat bench. Dual pane windows, w/d included, RV gate & much more! Enjoy relaxing with family or entertaining friends in the peaceful, private backyard with serene patio spaces & custom shade sail covers. Enjoy your own lush pomegranate & fig trees. NO HOA! The home is PERFECTLY located close to everything that makes living in Scottsdale great! Great restaurants, shopping, entertainment, sports complexes, walking/biking trails, parks, recreation, wonderful schools, easy freeway access, & MORE! Tour today & you will want to call this house home!

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16376 W Glacier Court Surprise, AZ 85387

$675,000

3 Beds

2 Baths

1,872 SqFt

Status Active Under Contract

MLS # 6769233

Property Type Single Family Residence

Price Type --

A MUST SEE!! This spacious Borgata model with custom casita has 3 BR/3 BA, great curb appeal w/Precision AlumWood covered courtyard and tons of upgrades. Custom Solid Front Door; custom electric code locks w/matte black hardware on 4 entry doors, all new Milgard windows & Patio door w/lifetime warranty; 3 bathrooms remodeled; HVAC 5 ton/15 Seer Trane 2024; 40 gal HWH 2022; Granite kitchen & casita sinks, kitchen has granite countertops, pantry, newer appliances, upgraded RO system, bay window in breakfast room. Lovely Primary bedroom with upgraded bathroom. Inside laundry has new custom cabinets. 2-car garage has new opener, custom cabinets and custom floor. 50 amp RV plug, long length driveway to accommodate your RV! Covered Aluma Wood Patio. Rock and surrounding walls outside. Custom texture on all concrete services. Private patio perfect for entertaining. This is a must see home!

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5235 W Davis Road Mcneal, AZ 85617

$675,000

4 Beds

3 Baths

1,414 SqFt

Status Active

MLS # 6655794

Property Type Single Family Residence

Price Type --

Old World Charm near Tombstone! This 144 acre ranch has tons of elbow room and boasts a 1938 homestead residence featuring 1414 square feet of living space with 2 bedrooms and 1 bath. In addition there are two, 495 square foot studio/casitas with full kitchens and baths. This property is perfect for a horse operation and has a 150 x 300 roping arena and cattle pens, a 150 foot round pen, a 60 foot round pen as well as working corrals, 10 stalls and a Mare Motel! The combined 144 acres is divided into 5 pastures with water! The property is ideal for a working ranch, or a compound! The owner would consider carrying terms with a substantial downpayment!! Don't put off your plans to own a ranch/horse/cattle operation and come see this exceptional property.

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11625 N 40th Way Phoenix, AZ 85028

$675,000

3 Beds

2 Baths

1,710 SqFt

Status Active

MLS # 6706586

Property Type Townhouse

Price Type --

Rare opportunity to own in the Roundhill community!! Nestled into the beauty of Stone Creek Golf Club. This immaculate 3bdrm & 2 bthrm patio home has everything you've been looking for. Open concept living area featuring vaulted ceilings with fireplace and lots of natural light. A spacious kitchen with ample room for entertaining. Enjoy dinner out on your private patio that backs on to the golf course, offering gorgeous views and tranquil privacy. You can also enjoy the views from your expansive primary suite that features a large walk-in closet, ensuite and sliding glass doors that take you to your patio. An attached 2 car garage gives you plenty of room for your vehicles and extra storage. New AC and roof were installed in 2021. This home is in a prime location close to Scottsdale and Paradise Valley providing you with multiple options for grocery stores, Costco, dining and shopping. You are also in close proximity to Piestewa Peak and Phoenix Mountain Preserve hiking trails, freeways and the Mayo clinic. Community benefits include a large swimming pool, hot tub and tennis courts. Come see for yourself everything this home has to offer.

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1431 W Spirit Drive Anthem, AZ 85086

$675,000

3 Beds

2.5 Baths

2,544 SqFt

Status Active

MLS # 6721017

Property Type Single Family Residence

Price Type --

View this beautiful San Juan model in Anthem C.C., featuring recent updates, south facing back patio with desert views and convenient proximity to the Ironwood Clubhouse. This wonderful home is 2544 sq. ft, 3 bed/2.5 bth, dedicated office, open floor plan and 3 car garage with new epoxy floor and built-in cabinets. The recently remodeled gourmet kitchen includes new stainless appliances; the master bath was completely remodeled in 2023 and features a huge walk in shower. Other highlights include plantation shutters, surround sound, soft water and R.O. systems, all new exterior paint and a new water heater. Your backyard outdoor living space enjoys a full length covered patio, flagstone hardscape, professional landscape design and a gas firepit. Let Anthem Country Club Welcome you home.

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19743 W Exeter Boulevard Litchfield Park, AZ 85340

$675,000

4 Beds

2.5 Baths

2,982 SqFt

Status Active

MLS # 6722040

Property Type Single Family Residence

Price Type --

Looking for a new home? This fantastic 4 bed, 2.5 bath residence now on the market is for you! Charming curb appeal, a low-care landscape, and a 3 car tandem garage are just the beginning. Discover a spacious dining & living areas w/elegant wood-look flooring, recessed lighting, and neutral palette throughout. The fabulous kitchen is equipped w/everything you'll need for home cooking, ample cabinetry, a pantry, quartz counters, SS appliances, and an island complete w/a breakfast bar. Upstairs you'll find a sizeable loft perfect for an entertainment area. End your busy day in the primary bedroom, boasting soft carpet, a walk-in closet, and an ensuite w/dual sinks. Finally, the expansive backyard w/its covered patio is a blank ready to become your own private oasis! Don't miss out!

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20329 E Bronco Drive Queen Creek, AZ 85142

$675,000

5 Beds

3 Baths

2,778 SqFt

Status Active

MLS # 6748755

Property Type Single Family Residence

Price Type --

Gorgeous custom home in the sought after Horse community of Will Rogers Equestrian Ranch.This 5 bedroom, 3 bath + an office has a large great room with a split floor plan. The Kitchen has new appliances and sink with a generous island, that can fit the whole family. The freshly painted interior has two primary bedrooms with en suites. The other three bedrooms are spacious and inviting. The laundry room is large with built in shelves for storage. Not only does the home have a 3 car garage, it also has a new RV gate. Two new A/C units were installed in March. This unique community boast an equestrian center with 4 stall barns,4 turn out pens, 2 round pens and 2 250X150 arenas and a Community pool, sport courts and instant access to QC wash trails. Community RV and boat storage too!!

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1416 E Don Carlos Avenue Tempe, AZ 85281

$675,000

5 Beds

3 Baths

2,102 SqFt

Status Active

MLS # 6732217

Property Type Single Family Residence

Price Type --

Amazing ASU investment opportunity! Gorgeous top to bottom renovation with FIVE bedrooms and 3 baths on a LARGE cul-de-sac lot. NO HOA. Stainless appliances. GE Profile oven/convection microwave and LG dishwasher. Quartz countertops. Custom tile shower surrounds. Porcelain plank tile flooring. 5 ton AC and 3 additional, 17 SEER Lennox mini-splits. New dual pane/dual UV/Argon gas windows! Newer Roof (2020). Stone accented entry. Newer sewer lines. Ceiling wood accent beams, LED recessed lighting. Huge back yard, massive cool deck patio and storage shed. Heart of Tempe LOCATION - walking/biking distance to ASU, Mill Ave., Gammage performing arts and shopping/dining along the Rio Salado corridor.

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6364 E Star Valley Circle Mesa, AZ 85215

$675,000

2 Beds

2.5 Baths

2,432 SqFt

Status Active

MLS # 6738610

Property Type Single Family Residence

Price Type --

Stunning Custom home on the Golf Course at Red Mountain Ranch! This Dual Primary Suite home is the perfect set up! One on the lower level and other on second level. The whole top floor is a retreat with it's own balcony! Original owners have updated and maintained the property with Love. All new Vinyl windows and doors were put in 2021 with a lifetime warranty! New Roof 2022, upgraded the R.O. system 2023, Interior and Exterior Paint 2020, Main A/C replaced with a 6 Ton in 2018, new hot water heater, and the garage floor was just done this Year! Great room is open to the dinning area and kitchen with seating at the island. Perfect Play Pool or Spool if heated for year round enjoyment! Built in Grill, extended pergola and so much more! Large 3 car garage with tons of cabinet storage.

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3741 E Catalina Drive Phoenix, AZ 85018

$675,000

3 Beds

3 Baths

2,134 SqFt

Status Active

MLS # 6737385

Property Type Townhouse

Price Type --

END UNIT I PREMIUM LOT I 3 bedroom + Den, 2.5-bath in Arcadia Lite! This contemporary home is situated at the end of a quiet cul-de-sac within a gated featuring a community pool! Enter into a spacious layout featuring 10' ceilings on both levels, modern kitchen with 8' indigo island, granite countertops, ample cabinet space, walk in pantry, + Frigidaire Gallery matching appliance package! Main level offers a den/flex space, powder room, and open living space. 2nd level opens to a flex/loft space, laundry, primary + 2 secondary bedrooms, 2 full baths. Sliding glass to back patio w/paved seating space + synthetic grass are perfect for entertaining. End unit offers extra privacy and no neighbors to the East! EV charging station included!

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