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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7064 E Osage Avenue Mesa, AZ 85212

Open House

New

$675,000

4 Beds

2.5 Baths

2,698 SqFt

Status Active

MLS # 6780359

Property Type Single Family Residence

Price Type --

Awesome move in ready home in great Mesa location, Gilbert Schools. Pull up to this adorable home with front porch. Open the door to an exceptional family home. sellers have done it all here. Plantation shutters, unique wood features, drop zone off garage, 2 pantries. Large loft area would make great office or children's play area, fenced saltwater pool w/slots for volleyball,/basketball. 2 1/2 baths, .2nd floor laundry, tasteful decor. This home is very special! Newer a/c has transferable warranty, 5 years labor, 10 years parts. see upgrades list in documents. Don't miss this one!!!

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2167 E Browning Place Chandler, AZ 85286

Open House

$675,000

3 Beds

3 Baths

2,322 SqFt

Status Active

MLS # 6777403

Property Type Single Family Residence

Price Type --

'Temporary 1-0 Buydown offered by preferred lender for qualified buyers.' Don't miss the opportunity to own this stately home in an ideal S Chandler location, offering 3 bedrooms plus a den with murphy bed and 2 baths. Enjoy 10 foot ceilings adding to the feel of space & grandeur. This wonderful home includes a split floorplan w/ separate entrance into the secondary bedrooms & bath for the ultimate luxury of privacy. This is ideal for guests or multigenerational living arrangements. The ample open kitchen includes RO, maple cabinets, granite counter tops & includes tons of storage and counter space, perfectly lending it to large gatherings. Enjoy a sizeable and serene primary suite complete with an en-suite bathroom including separate shower enclosure & tub as well as private toilet room The home has everything to suit a new owner including the addition recently of a new HVAC. The backyard is ideal for entertaining with a pebble-tec pool thoughtfully adorned with shades to protect everyone from the intense summer sun. All this and just a few minutes from the 202, 101, Downtown Chandler, Downtown Gilbert, Chandler Fashion Park, restaurants and so much more!!

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25720 N 140th Drive Surprise, AZ 85387

Open House

New

$675,000

3 Beds

3 Baths

2,185 SqFt

Status Active

MLS # 6779155

Property Type Single Family Residence

Price Type --

Ready to Live in Your Dream Home? This 3 bed, 3 bath beauty is packed with jaw-dropping updates and designer touches that make it feel like a luxury retreat - but with all the comfort of home. From the moment you enter, you'll be struck by the natural light pouring in through oversized windows and the stunning herringbone plank tile flooring. Every room has been carefully designed with modern ceiling fans and lighting. It's all about the details here. The kitchen? Wow. Think extended island with a farmhouse sink, touchless faucet, sleek quartz countertops, and custom soft-close cabinets. Plus, with top-tier KitchenAid and Bosch appliances, cooking feels like a dream. The master suite is your own private escape. The en-suite bathroom features a custom shower with multiple heads and heated floors for that spa-like vibe. Need entertainment? There's a superhero-themed game room -- yes, you read that right. And for the ultimate hangout, the backyard is it. A custom BBQ station, an amazing pool with a water wall and bubblers, plus a covered patio that's perfect for hosting large parties or just chilling with a cold drink. Low-maintenance artificial turf and outdoor lighting that you can remotely adjust. On top of all this, you've got solar panels for energy efficiency, plus a 2-car and RV garage with climate control. This home isn't just beautiful -it's designed for an extraordinary way to live. Come see what makes this place so special!

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3460 E Azalea Drive Gilbert, AZ 85298

Open House

New

$675,000

4 Beds

3 Baths

2,087 SqFt

Status Active

MLS # 6778428

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This beautifully upgraded 4-bedroom, 3-bathroom residence boasts just under 2,100 square feet of luxurious living space. Step inside to discover an open and airy layout, perfect for entertaining and family gatherings. The modern kitchen features stainless steel appliances, elegant granite countertops, and stylish backsplash, making it a chef's paradise. Relax in your private oasis with a sparkling pool, surrounded by a beautifully landscaped yard—ideal for summer fun or quiet evenings under the stars. The Bridges community in Gilbert, AZ offers a serene atmosphere, amenities, complete with scenic views and friendly neighbors.

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4518 E Hopi Street Phoenix, AZ 85044

Open House

$675,000

5 Beds

3 Baths

2,399 SqFt

Status Active

MLS # 6777929

Property Type Single Family Residence

Price Type --

AHWATUKEE! South Mountain Views! 5 bedrooms! Pool! Corner lot! This wonderful home sits in the heart of Ahwatukee. Living here gives easy access to I-10, AZ 202, downtown Phoenix, Sky Harbor, ASU, Tempe & Chandler. This great location is close to South Mountain Park, dining, shopping, private park, public parks, golf, farmer's market and schools (public, private & charter). 5 bedrooms / 3 bathrooms / 2 car garage / pool / covered patio / solar is owned / kitchen island / privacy (corner lot with arroyo behind) / wood floors / open floor plan / many updates / gardening opportunity / in-ground fire pit. This fantastic home is waiting for you!

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930 E San Juan Avenue Phoenix, AZ 85014

Open House

$675,000

3 Beds

3 Baths

1,903 SqFt

Status Active

MLS # 6766402

Property Type Single Family Residence

Price Type --

Location and Charm!! You do not want to miss this beautiful 3 bed/ 3 bath home nestled in the HEART of Uptown Phoenix. Highly coveted Madison School District! Cozy wood flooring and modern concrete floors will guide you throughout this well-designed residence. Your new kitchen awaits, with gorgeous granite countertops, stainless steel appliances and rich cabinetry, with a large walk-in pantry to store all of your cooking essentials. The primary suite and expansive walk-in closet, with welcoming natural light will surely impress! Your primary ensuite will provide double vanities, separate shower and a massive jetted tub! Entertain family and friends in your privately paved backyard with string lighting and mature trees, to set the mood for any occasion. The backyard storage shed could potentially be transformed into your very own casita or backyard office space, already equipped with electricity! The possibilities are at your fingertips. This home is ready for it's new owner, so book a private tour today!

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22155 N Cline Court Maricopa, AZ 85138

Open House

$675,000

4 Beds

2.5 Baths

3,880 SqFt

Status Active

MLS # 6767476

Property Type Single Family Residence

Price Type --

***No need to wait for mortgage rates to decrease—you can start saving hundreds of dollars a month on your mortgage payments now!! Secure next year's rate today with a 1-0 buydown, offered by the seller.*** This exceptional property boasts a vast 16433 square foot golf course lot with a 3880 square foot home, complete with a dazzling heated pool and a 4-car garage! Meticulously crafted by Hacienda builders, the 4-bedroom, 2.5-bath home features 2x6 framing for structural integrity and deep insulation. Discover exquisite cabinetry in the spacious chef's kitchen and great room, a luxurious downstairs owner's suite, generously sized bedrooms with walk-in closets, two separate loft areas, and a versatile den/family room. Step out onto the balcony that stretches the length of the house, offering breathtaking views of the Rancho El Dorado golf course and the San Tan Mountains. The expansive backyard beckons with its inviting pool, outdoor kitchen, dining space, spa, and a tranquil water fountain. Don't miss the opportunity to make this stunning property your own!

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6351 E Waltann Lane Scottsdale, AZ 85254

$674,999

3 Beds

2 Baths

1,587 SqFt

Status Active

MLS # 6755121

Property Type Single Family Residence

Price Type --

Looking for a MOVE IN ready home in the magic zip code of 85254? THIS IS IT! Welcome to Waltann Ln .. an updated 3 bedroom, 2 bath home ready for you to bring your clothes, put up your feet, relax and enjoy. With an open floor plan .. but plenty of separate spaces .. a fantastic kitchen that overlooks the backyard and den .. and perfectly sized bedrooms .. this home is perfect as a primary home, a home away from home or as an investment property. In the backyard, you'll find a refreshing play pool, an above ground hot tub, fire pit and a fantastic covered patio for some al-fresco dining. With NO HOA, easy access to the 101 and 51 and minutes from the amazing shopping and dining at Kierland, Scottsdale Quarter and Desert Ridge .. Waltann Ln is sure to be the one.

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3419 W Thoreau Lane Anthem, AZ 85086

$674,998

5 Beds

4 Baths

3,366 SqFt

Status Active

MLS # 6750368

Property Type Single Family Residence

Price Type --

Live the Anthem Lifestyle! This MOVE IN READY home has an EXCELLENT FLOOR PLAN w/ 2 large flex rooms PLUS HUGE loft. Downstairs has the primary bedroom/bath PLUS 2nd bedroom & full bath. Upstairs has Large bedrooms, jacknjill bath & 4th bathroom. Wonderful features include; VAULTED ceilings,2 NEW HVAC, NEW Hot water Heater, NEW PAINT inside & out, NEW Granite, NEW jacuzzi showers, NEW LVP, carpet & more! Relax in the backyard oasis w/ extended covered patio, POOL, SPA & WATERFALL. A grassy park is across the street for neighborhood fun! The Anthem Community LIFESTYLE includes a 63 acre park w/ Big Splash Water Park, ball fields, large workout facility, tennis, Pickleball, Bball & volleyball courts, skate park, plus large pond! Minutes to I-17, outlet mall, restaurants & shopping!

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3172 W Via Dona Road Phoenix, AZ 85083

$674,990

4 Beds

3 Baths

2,375 SqFt

Status Active

MLS # 6774426

Property Type Single Family Residence

Price Type --

Special Financing Available!!!!!!!!! The Great Room, kitchen and dining room share an open floorplan that serves as the heart of this single-level home, leading out to a covered patio through sliding glass doors. The owner's suite is privately tucked away at the back, while three more bedrooms and a bonus room complete the residence. Photos are renderings of a model home, not the actual home.

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844 W Flatiron Trail Apache Junction, AZ 85120

$674,990

4 Beds

3 Baths

2,833 SqFt

Status Active

MLS # 6750737

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. The Ravenna floor plan features a stylish single-story layout with four bedrooms and a versatile flex space, perfect for an office, TV room, or study. Complete with front yard landscaping, this home will be ready for occupancy by October. Ideally located near community parks, grocery stores, and dining options.

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18593 E Ranch Road Queen Creek, AZ 85142

Open House

$674,978

5 Beds

3 Baths

2,553 SqFt

Status Active

MLS # 6751752

Property Type Single Family Residence

Price Type --

Do not miss this beautifully remodeled 5 bedroom, 3 bath home in masterplanned community of Cortina in Queen Creek! Sitting on a corner lot, across from one of the community parks, the curb apeal is unmatched with new professional landscaping. The front porch is perfect for your morning coffee, watching the kids play or chatting with the neighbors. Walk inside and you are greeted by an open, light and bright floorpan! Just remodeled with new tile, upgraded carpet, cabinet doors, countertops, paint, fixtures, hardware and more! This dream kitchen offers lots of storage with white shaker cabinet doors, gorgeous quartz countertops and black accessories. Look out over the large island to the great room, with plenty of space for a large kitchen table, sectionals, couches or more! Perfect for spending quality family time or for entertaining. The primary suite is spacious and private with a spa like en suite! Offering Corian surrounds, separate tub and shower and a walk in closet with ample storage! The secondary bedroom with it's own en suite offer privacy for guests, or would be a perfect home office space! The split floorpan perfectly offers 3 more large bedrooms and bathroom. Out back is a true oasis with all new turf, plants and enough stamped concrete for dining or lounging! Do not miss out, schedule your appointment today!

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