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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27794 N Sierra Sky Drive Peoria, AZ 85383

$675,000

5 Beds

3 Baths

3,081 SqFt

Status Active

MLS # 6767127

Property Type Single Family Residence

Price Type --

Welcome to this exceptional 5-bedroom, 3-bathroom residence in Westwing Mountain, featuring a private pool and stunning curb appeal with low-maintenance landscaping. The well-appointed kitchen boasts sleek stainless steel appliances, granite countertops, and a central island perfect for casual dining and entertaining. Ample pantry space provides additional storage.Ascend to the second level to find the luxurious primary suite, complete with dual sinks, a separate soaking tub, and a spacious walk-in closet. The thoughtful floor plan promotes seamless indoor and outdoor entertaining, with easy access to the covered patio and inviting pool area. This home offers numerous inviting spaces for relaxation and social gatherings. Conveniently located just minutes from hiking trails and parks, this property is a true oasis for both comfort and recreation.

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9709 E Mountain View Road Unit 1701 Scottsdale, AZ 85258

$675,000

2 Beds

2 Baths

1,644 SqFt

Status Active

MLS # 6769773

Property Type Single Family Residence

Price Type --

Corner location, fabulous private spacious courtyard in The Racquet Club at Scottsdale Ranch! Plenty of light in this open floorplan with with high ceilings and great windows, french doors and an inviting fireplace. The formal dining room has mirrored walls for a spacious feel, glass windows into courtyard. Perfect for hosting memorable dinner gatherings or reading in the shade of mature trees. The kitchen boast granite counters, ample cabinetry with crown moulding, a stone tile backsplash, chic pendant lighting, SS appliances, a handy pantry, and an island with a breakfast bar for casual dining. The main bedroom includes plantation shutters, direct backyard access, an ensuite with dual sinks, and a walk-in closet. Charming home close to restuarants, shopping & Honor Health hosp and Mayo

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16619 S 27th Avenue Phoenix, AZ 85045

$675,000

4 Beds

3.5 Baths

3,125 SqFt

Status Active

MLS # 6773372

Property Type Single Family Residence

Price Type --

Welcome to your dream home located in Foothills Reserve Community! With 4 beds, 3.5 baths, a 2-car garage, & a cozy front porch, it tastefully blends modern design & comfortable living. Beautifully upgraded interior boasts wood-look flooring, graceful archways, fresh neutral paint, soaring ceilings, clerestory windows, & a seamlessly flowing living & dining room ideal for receiving guests. Harmonious great room offers a clear view of the backyard. Open-concept kitchen is equipped with abundant cabinetry topped with crown moulding, recessed lighting, SS appliances, desk area, a prep island with a breakfast bar, & granite counters. Sizable loft is excellent for a study or TV area. Spacious primary retreat features an ensuite with two vanities, a separate shower & tub, & a walk-in closet. PLUS! 2nd main bedroom, with its own bathroom, provides privacy for guests. Enjoy fantastic mountain views from the serene backyard with a covered patio & artificial turf. This gem is ready for you to move in & enjoy!

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8754 S Maple Avenue Tempe, AZ 85284

$675,000

3 Beds

2 Baths

2,340 SqFt

Status Active Under Contract

MLS # 6743448

Property Type Single Family Residence

Price Type --

Discover your dream home in the highly sought after Pecan Groves of South Tempe! This charming 3-bedroom, 2-bathroom property features an open living space, formal living room, large master suite, and a bonus home office that's perfect for remote work. The private backyard provides space for plenty of future improvements. This home also features a spacious 2-car garage with an expansive bonus attic storage. The roof was also fully replaced in 2019, providing peace of mind for years to come. Located in a highly desirable area, this home offers easy access to scenic parks, a variety of shopping, and dining options. With convenient freeway access, you're just minutes away from everything Tempe has to offer. Don't miss this fantastic opportunity!

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2152 E Cathy Court Gilbert, AZ 85296

$675,000

4 Beds

3 Baths

2,291 SqFt

Status Active Under Contract

MLS # 6758842

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This freshly painted 4-bedroom, 3-bath gem is perfect for anyone looking to enjoy comfort and style. Step inside to discover brand-new tile flooring throughout, giving the home a fresh, modern feel. The spacious eat-in kitchen boasts designer cabinet finishes, sleek granite countertops, and a large pantry—ideal for those who love to cook and entertain. The expansive master suite offers a private retreat, complete with a huge master bath featuring a luxurious walk-in shower. Additionally, there's a versatile den and office space, perfect for work or relaxation. Outside, unwind by the pool while soaking in the stunning Arizona sunsets or immerse yourself in the hot tub on those cool AZ winters nights. The low-maintenance artificial turf and a sizeable side yard provide plenty of outdoor space without the hassle. For some peace of mind, updated new pool pump system, new roof and new carpet. Come see this beautiful home, make it your home sweet home.

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4324 E Vallejo Court Gilbert, AZ 85298

$675,000

4 Beds

3 Baths

2,640 SqFt

Status Active Under Contract

MLS # 6760716

Property Type Single Family Residence

Price Type --

Beautifully well maintained Picasso floorplan by Shea in desirable Seville. This home features 4 bedrooms, 3 full bathrooms, large loft, den, 3 car garage, a guest bedroom, and full bathroom downstairs. Open floor plan with living room, dining room, huge family room and eat in kitchen create the perfect space for entertaining. Kitchen features granite countertops, gas stove and stainless steel appliances. Primary bedroom has a large bathroom with separate tub and shower, walk in closet and double sinks. Additional 2 bedrooms, full bathroom, loft and den upstairs. Laundry room with built in additional storage and room for a 2nd fridge. Backyard features beautiful swimming pool with covered patio.

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10215 W Gambit Trail Peoria, AZ 85383

$675,000

4 Beds

3 Baths

2,192 SqFt

Status Active Under Contract

MLS # 6773300

Property Type Single Family Residence

Price Type --

Welcome to Northlands Passage in North Peoria, best value for the money in the area, where the skies are bigger and the sunset glow fills the sky with radiant pink, yellow, orange and purple hues. Step outside every morning and view the beautiful Calderwood Butte out your front door and back patio, plus with the trail head right down the street you'll get the full enjoyment of this very special home in a very special community. Step inside this Albany Model by Taylor Morrison, with 2192 sq.ft. of interior living space, 4 BEDS + 3 BATHS and a 3 CAR Garage.

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1487 Mcculloch Boulevard Lake Havasu City, AZ 86406

$675,000

3 Beds

2 Baths

1,846 SqFt

Status Active

MLS # 6734829

Property Type Single Family Residence

Price Type --

Southside home with epic sunsets, lake & mountain VIEWS. Custom landscaping, water features, covered patio & elevated concrete patio area for the Havasu outdoor living lifestyle. RV/Boat garage, additional gated RV side-yard parking with hookups. Entire garage has heating/cooling for year-round comfort. Abundant amounts of natural light fill this home. Open concept living area, dining area and kitchen. Primary suite covers one side of the home with dual vanity, oversized jacuzzi tub, oversized walk in shower and walk in closet. Split bedroom plan . Kitchen has granite counters & dark wood cabinetry . Bathrooms have custom tile throughout. New tile flooring throughout provides worry free living with pets or kids. Vaulted ceilings, skip trowel wall finishes, One owner home since new.

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6250 E Carolina Drive Scottsdale, AZ 85254

$675,000

3 Beds

2 Baths

1,415 SqFt

Status Active

MLS # 6764258

Property Type Single Family Residence

Price Type --

This newly renovated 3-bedroom, 2-bathroom home features sleek finishes throughout, a cozy fireplace in the living room, and a modern kitchen with stainless steel appliances. The primary bedroom boasts a spacious ensuite bathroom with double sinks. Enjoy seamless indoor-outdoor living with a private backyard, covered patio, and artificial turf area for convenience. This immaculate renovation also includes a new A/C unit and new water heater! Located near Kierland Commons, Scottsdale Quarter, and local parks, this home offers both comfort and convenience in a vibrant community. Don't miss out on this updated gem!

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2813 E Indian Wells Place Chandler, AZ 85249

Open House

$675,000

4 Beds

3 Baths

2,566 SqFt

Status Active

MLS # 6776954

Property Type Single Family Residence

Price Type --

Welcome to your dream 2-story home in the sought-after Cooper Commons community of Chandler! This stunning corner lot residence features 4 spacious bedrooms, 3 beautifully appointed bathrooms, and a generous loft, offering abundant space for your family's needs. Enjoy the convenience of having one bedroom and a full bathroom on the main level—ideal for guests or multi-generational living. This home is equipped with modern comforts, including Nest Thermostats, a Vivint security system with cameras, and air dryers in the bathrooms for added convenience. The included water softener enhances your home's efficiency and comfort, ensuring a quality living experience. Step outside to discover your personal oasis! The backyard is a true paradise, featuring a large covered patio perfect for entertaining, a heated pool for year-round enjoyment, and lush artificial turf for easy maintenance and play. This home is designed to impress and is sure to exceed your expectations. Don't miss out on this incredible opportunity to make it yours today!

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14023 W Monte Vista Road Goodyear, AZ 85395

Open House

$675,000

5 Beds

3 Baths

2,976 SqFt

Status Active

MLS # 6774191

Property Type Single Family Residence

Price Type --

Pristine, better-than-new gem in sought-after Palm Valley! Experience effortless flow & abundant natural light throughout. Whip up culinary masterpieces in the spacious kitchen complete with an expansive island just perfect for gatherings for breakfast with the family or a social spot for chatting and sipping vino. Use the versatile & flexible loft as an office, workout room, or game room—tailor it to your lifestyle. From elegant plantation shutters to stunning wood plank tile flooring, every detail has been meticulously chosen. Resort-like backyard features a sparkling pool, easy care turf & covered, extended patio. Community perks include a golf course & community pool. Why wait for new... this home is truly done to the nines so don't miss your chance to own this slice of paradise!

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4526 E Carob Drive Gilbert, AZ 85298

Open House

New

$675,000

2 Beds

2 Baths

2,114 SqFt

Status Active

MLS # 6779903

Property Type Single Family Residence

Price Type --

Very Special ''Agave'' model floor plan with POOL located in the active 55 plus adult community of Trilogy at Power Ranch. This home features 2 bedrooms, 2 baths, a den with built-in twin murphy beds (2) and desk, plus a formal dining room. The great room has a wall of windows overlooking the backyard. The kitchen has a large granite island, gorgeous cabinetry, pendant lighting and walk-in pantry. The perfect area for entertaining, or for a person who loves to cook. Just off the kitchen is a laundry room with lots of cabinets for storage. The master bedroom has windows overlooking the pool and backyard, plus its own bath with double sinks, custom lighting, walk-in shower, and large master closet. The guest room is located on the opposite side of the home giving all parties privacy. It has a tub/shower and is adjacent to the guest bedroom. The garage has built-in cabinets for extra storage. The backyard has artificial turf, covered patio, custom pavers, plus POOL and fully fenced backyard. The perfect area to relax and enjoy. Come see this wonderful home and all this community has to offer which includes golf, tennis, pickle ball, pools, workout facility, Bocce, and so much more.

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