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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2525 N 25th Place Phoenix, AZ 85008

$665,000

4 Beds

2 Baths

2,205 SqFt

Status Active

MLS # 6781950

Property Type Single Family Residence

Price Type --

This property is a mid-town hidden gem (less than 1 mile from AZ Heart Hospital and Phx Children's Hospital) This rare find features two detached homes on an expansive 13,570 sq ft lot! The main home is a timeless 4-bedroom, 2-bathroom with updates that blend classic charm and contemporary comfort. Large open living space provides a huge area to gather together and a dining area that accommodates fully expanded seated dining for at least 10 and combined seating for approx 20! The detached guest house offers an additional 3 bedrooms, 2 bathrooms, and a basement (not designated living space), perfect for an office, studio, wine cellar or? This additional home offers space for extended family, visitors, multi-gen living or rental income. Both homes are powered by owned solar, providing energy efficiency and cost savings. Plus, the property features flood irrigation. With no HOA restrictions, you have the freedom to transform this super-sized lot into your own private oasis, ideal for outdoor living, gardens, or entertaining spaces. This property is an unparalleled opportunity for versatility and investment in a serene, spacious setting. This is a hidden gem!

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1653 S Navajo Way Chandler, AZ 85286

Open House

$665,000

4 Beds

3 Baths

2,321 SqFt

Status Active

MLS # 6748523

Property Type Single Family Residence

Price Type --

Beautiful, well cared for home located in a highly desired Chandler community, near Intel and just minutes away from 202 and 101 Highways. In district for Top Rated Chandler Unified School District schools. The home sits on HUGE lot (9,927sqft) & has newly refinished pool and deck (2017) w/ gorgeous waterfall, green grass, & trees to provide shade. Front yard has mature Chinese Elm tree that adds greenery & shade to the low maintenance, desert landscaped front yard. Inside is a upgraded split floor plan. Master bedroom has walk in closet, separate shower & tub, and dual sinks. Great sized bedrooms, one offering a convenient en suite. Tile throughout except carpet in bedrooms. Open floor plan, large kitchen with Island and granite tile countertops. MANY IMPROVEMENTS recently done. Pool Remodel with new pool filter, pool deck and additional concrete 2017, Window Shade screens 2018, New Carrier 16 SEER 5 ton A/C with new duct work and additional return 2018, b-Hyve Irrigation timer 2019, Replace DE Pool Filters 2021, New Garage Doors 2020, Exterior paint 2021, New Rheem hot water heater 2022, New dishwasher & microwave 2023, BRAND NEW ROOF (entire roof with transferrable 10 year warranty) 2024

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844 W Flatiron Trail Apache Junction, AZ 85120

$664,990

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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22730 E Roundup Way Queen Creek, AZ 85142

$664,990

4 Beds

3.5 Baths

2,623 SqFt

Status Active

MLS # 6751475

Property Type Single Family Residence

Price Type --

This 2,623 sq ft single-story Jade plan features 4 bedrooms, 3.5 baths, and an expansive great room with a 4-panel sliding glass door. The kitchen is a chef's delight with a gourment kitchen, Hana Sky Quartz countertops, and white 42'' shaker cabinets. Enjoy modern finishes like wood plank tile floors in the living areas, upgraded carpet in bedrooms, and stylish mixed metal accents with black and gold touches. The primary bathroom features designer flooring and a tiled shower. The home also features 10' ceilings, 8' doors, a double gate, & a tankless water heater. Marquis at Mader offers a pool, spa, pickleball, bocce ball, basketball, playgrounds, and easy access to Frontier Family Park.

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3249 W Via Dona Road Phoenix, AZ 85083

$664,990

4 Beds

3 Baths

2,274 SqFt

Status Active

MLS # 6771876

Property Type Single Family Residence

Price Type --

Ask about special financing with preferred lender! This single-story home is host to a generous open floorplan where the Great Room, kitchen and dining room seamlessly connect and sliding glass doors offer direct access to the covered patio for indoor-outdoor living. An additional, versatile living space is located off the foyer, while four bedrooms offer enough room for the whole family. Photos are renderings of a model home, not the actual home. A public report is available on the Arizona Department of Real Estate website.

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42205 N Golden Trail San Tan Valley, AZ 85140

Open House

$664,990

4 Beds

3 Baths

2,513 SqFt

Status Active

MLS # 6709618

Property Type Single Family Residence

Price Type --

Nearly complete and ready for a QUICK Move-in!!! - Welcome to Edgewood Estates located in the convenient Queen Creek Corridor. This Belfast plan home includes our Extra Suite Plus with private entrance, ideal for multigenerational living or guests. The focus of the home is the large great room with a 12' sliding glass door and stunning kitchen with Loft inspired interior selections including grey cabinets accented with open shelving and upgraded Bosch stainless-steel appliances. A split floorplan makes the Primary Suite is a private oasis accented with a spa-like bath. Solar prewire and an EV charger outlet in the garage included making it a Department of Energy ''Zero Energy Ready Home' certified. Up to 6% of Base Price can be applied towards closing cost and/or short-long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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15270 E Countryside Road Mayer, AZ 86333

$664,900

3 Beds

3 Baths

2,437 SqFt

Status Active

MLS # 6781865

Property Type Single Family Residence

Price Type --

Welcome to this stunning Santa Fe-style home set in the gated community of Bensch Ranch, where impressive mountain views and contemporary design come together. Enjoy main-level living with the added versatility of a walk-out basement, all within a spacious, upgraded home. Upon entering, you're greeted by an open floor plan, anchored by beautiful tile flooring that flows through the main level. The living room is an inviting space, boasting a wall of windows on two sides that frame the picturesque views, creating a stunning backdrop for gatherings. Cozy up by the fireplace on cooler evenings or simply relax while soaking in the natural beauty just beyond the glass. The kitchen features stainless steel appliances, gleaming quartz counters, & high-quality solid wood knotty hickory cabinets. Retreat to the primary bedroom, where a rain glass double-door entry, bay windows, and an elegantly appointed ensuite await. The ensuite bathroom is complete with double vanities, a luxurious jetted tub, and a separate walk-in shower. The main level also includes a secondary bedroom, a full bathroom, a convenient laundry room, ample storage, access to a spacious 3-car garage, and direct access to the oversized Trex viewing decka perfect spot to unwind while enjoying unobstructed mountain views. The lower level provides even more space for relaxation or entertainment, featuring a family room with walk-out access to a covered patio, a third bedroom, and an additional bathroom. Outside, this 3/4-acre property includes access to community amenities, such as a clubhouse with a pool, fitness center, and backs up to dedicated HOA space. With this property only being 4 miles west of I-17 off HWY 69, this serene retreat offers mild seasons and convenient access to popular retreats across Arizona. 1 hour from Sedona, 1 hour from Phoenix, less than 1 ½ hours from Flagstaff, this home is truly the ideal blend of comfort, style, and convenience.

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8180 E Shea Boulevard Unit 1038 Scottsdale, AZ 85260

$664,900

2 Beds

2.5 Baths

1,733 SqFt

Status Active

MLS # 6718983

Property Type Townhouse

Price Type --

This beautifully updated 2-bedroom, 2.5-bathroom condo in the heart of Scottsdale is available fully furnished. The open-concept living and dining area, enhanced by natural light and a cozy fireplace, creates a warm and inviting atmosphere. The updated kitchen boasts granite countertops, new stainless steel appliances, and ample cabinet space, perfect for cooking at home. The luxurious master suite features a walk-in closet and an en-suite bathroom with a dual-sink vanity, and a nicely updated walk-in shower. The community offers a pool with a covered area. Located just minutes from Loop 101, this home provides easy access to top shopping, dining, and entertainment, as well as top-rated schools and parks. W With 1,733 sq. ft. of living space, a direct-entry 2-car garage, and bedrooms both upstairs and downstairs, this unit is perfect as a second home or for someone seeking low-maintenance living.

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22611 N 70th Drive Glendale, AZ 85310

$664,900

4 Beds

2 Baths

2,066 SqFt

Status Active Under Contract

MLS # 6768445

Property Type Single Family Residence

Price Type --

$20,000 PRICE REDUCTION from original price. Come & See this GORGEOUS, MODEL SHARP, BEAUTIFULLY UPDATED & REMODELED (over $112K, see photo #2), 4 bed 2 bath single level home on cul de sac w/ RV Gate & 3-car garage in Hillcrest Ranch. Elegant kitchen w/ quartz counters, white cabinets w/ hardware, SS appliances, breakfast-bar island & spacious eat-in kitchen that overlooks back yard. Soaring vaulted ceilings, open, bright, & neutral throughout with NEW windows, NEW Roof (underlayment & tiles), plantation shutters, exterior doors, exterior paint & more. Primary suite w/ exit overlooks back yard, remodeled bathroom, & walk-in closet. Enjoy your spacious back yard w/ sparkling pebble tec pool & REAL grass-NEW SOD added. Close to restaurants, shopping, & 101 freeway access. SEE FEATURES DOC!

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2185 W Highridge Road Wickenburg, AZ 85390

$664,900

3 Beds

2 Baths

1,886 SqFt

Status Active Under Contract

MLS # 6780211

Property Type Single Family Residence

Price Type --

Price Correction! We are motivated! PANORAMIC VIEW AS SOON AS YOU WALK IN! HORSE PROPERTY ON 2.2 ACRES IN HIGH END SUBDIVISION. NO HOA! Kick off you boots and relax in this incredible Santa Fe home with views of Vulture Peak. 3 BR/2 BA. Open, SPLIT Floorplan with Bee Hive Fireplace. Wood Doors. Owners bedroom has private entrance and full ensuite/ walk in closet.. Kitchen has plenty of storage and view of the desert. CLOSE TO TOWN AND ROPING. OVERSIZED 3 Car Garage! Room for LARGE GARAGE/SHOP with out obstructing any VIEWS. Customize the horse set up to YOUR liking. AMPLE PARKING IN THE CIRCULAR DRIVE. BRING YOU TOYS AND CAMPER. COVERED PATIO AND FENCED YARD. PRICE FOR A QUICK SALE.

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10337 E Brown Road Mesa, AZ 85207

Open House

$664,900

3 Beds

2 Baths

2,238 SqFt

Status Active

MLS # 6756063

Property Type Single Family Residence

Price Type --

**PRICE REDUCED! HORSE PROPERTY, AMAZING INVESTMENT POTENTIAL WITH RU43 ZONING! Welcome to this expansive 3-bedroom, 2-bathroom ranch-style home in Mesa, sitting on OVER AN ACRE OF LAND! With 2,238 sq. ft. of living space and a total lot area of 46,623 sq. ft., this property is perfect for those seeking space, privacy, and versatility. As you enter, you'll notice the tile flooring throughout the house, adding durability and a cohesive look. The spacious living and dining areas provide ample room for gatherings and family time. The kitchen features a convenient island and plenty of cabinets, making it ideal for cooking and storage. The bedrooms are generously sized, with the primary suite offering a walk-in closet and a bathroom with double sinks for added comfort. There's also an indoor laundry hookup for your convenience. The exterior boasts a huge covered patio, ideal for outdoor entertaining or relaxing in the shade. The roof was updated in 2016, and the brand-new A/C unit ensures the home stays cool year-round. The water heater was replaced in 2023, giving you peace of mind. This property is a horse lover's dream, featuring a stable and corral with plenty of space for riding or caring for animals. An additional garage and shed provide extra storage, and with over an acre of land, there's ample room for expansion or customization. There's also potential to convert part of the home into a separate apartment, creating opportunities for rental income or multi-generational living. The motivated seller is ready to make a deal, so don't miss out on this fantastic opportunity to own a spacious, versatile property in a great Mesa location.

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8594 E Kelly Road Prescott Valley, AZ 86315

$664,400

4 Beds

3 Baths

2,575 SqFt

Status Active

MLS # 6721065

Property Type Single Family Residence

Price Type --

Motivated seller! Enjoy spectacular sunsets and views from this 4 bed/3 bath home. 5th bedroom accessed through another bedroom. This lovingly built owner constructed home is on a level 10 acre parcel conveniently located close to highway 89A. Super desirable area just off Coyote Springs Rd. The original owner lovingly built this unique house with many special features: a fireplace that heats the entire house, and a basement bunker. 1200 sq ft metal workshop building with a security system which can house 6-8 vehicles and has living quarters with kitchen and bath. Plenty of room for RVs and toys, horse facilities or countless other possibilities! New vinyl plank flooring, new HVAC and newly remodeled kitchen. Only 22 minutes to the heart of Prescott, and a quick ride to Jerome/Phoenix.

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