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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14401 N 10th Place Phoenix, AZ 85022

$670,000

4 Beds

2 Baths

2,548 SqFt

Status Active Under Contract

MLS # 6744321

Property Type Single Family Residence

Price Type --

Looking for a Moon Valley Oasis? This unique four-bedroom property has million-dollar views, proximity to Lookout Mountain and North Mountain trails, and NO HOA! A biodiverse desert xeriscape supports a perfectly manicured cactus landscape with the shade of a Mesquite and Palo Verde tree in the front yard. Custom iron-wrought gates hide a secret garden in the backyard with tropical palms and producing-citrus trees. The secluded setting provides unbridled privacy. Entertain guests amongst the lavish PebbleTec pool, or in the spacious Arizona Room. The updated kitchen includes Bosch appliances, a Wine Fridge, and beautiful hand-crafted cabinets above a granite countertop, providing a unique space to cook and host. This is a must-see property. It will not last long on the housing market!

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842 E Cambridge Avenue Phoenix, AZ 85006

$670,000

3 Beds

2 Baths

1,823 SqFt

Status Active

MLS # 6752309

Property Type Single Family Residence

Price Type --

Located in the Phoenix Historic District, this 1941 residence offers a perfect blend of classic charm and contemporary upgrades. The bright, open floor plan features rich wood flooring, LED recessed lighting, and oversized windows that invite abundant natural light. The great room, complete with a gas fireplace, seamlessly connects to an upgraded kitchen boasting Thermador appliances, a white tile backsplash, and generous storage. A formal dining area and eat-in kitchen provide elegant spaces for dining and entertaining. The outdoor area includes a landscaped front and back yard, a tranquil patio, and a spacious side lot ideal for pets. Ideally positioned near a park and close to Phoenix Country Club, Sky Harbor Airport, Fashion Square Mall, dining, golfing, and major freeways. This home also includes a two-car garage and additional slab parking, making it an exceptional choice for those seeking a blend of historic character and modern amenities.

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3407 E Glacier Place Chandler, AZ 85249

Open House

$670,000

4 Beds

2 Baths

2,121 SqFt

Status Active

MLS # 6738533

Property Type Single Family Residence

Price Type --

FRESHLY PAINTED INTERIOR. BRAND NEW CARPET- COME TAKE A LOOK NOW!! Ready to move in. Exceptional single level 4 bedrooms 2 baths & Spacious 3 car garage home in popular gated community of Quail Springs in Chandler. Formal living & Dining room Updated Kitchen with Island overlooking the great room. Wired for surround sound. Kitchen cabinets and stunning granite countertops installed in 2024. Stainless Steel appliances The Refrigerator & Microwave replaced in 2023. Double Ovens Washer & Dryer installed in 2022 are included. Laundry room cabinet & Sink. Tile floor in kitchen baths and all traffic areas. Main bath with separate tub and shower. Walk-in closet with custom shelves. Dual sinks. Water Softener. RO System. Tankless water heater. Security System Borders common area with access to walking trail. Community offers large grass area and children playground Close to schools dining shopping and Citrus Vista Park. Come take a Look.

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10918 E San Tan Boulevard Sun Lakes, AZ 85248

Open House

$670,000

2 Beds

2 Baths

1,912 SqFt

Status Active

MLS # 6758871

Property Type Single Family Residence

Price Type --

Lovely custom Palacia floor plan on golf course in Palo Verde. 18th FAIRWAY! Come into this spacious open concept. Great for entertaining. The great room includes the living room, formal dining room and kitchen. The kitchen is a chef's dream- large granite island, stainless steel appliances, plenty of cabinets. 2 Bedrooms, 2 baths. Spacious Primary Suite features separate sitting area . Ideal for an office. Primary bath features 2 vanities, large walk in closet. Guest bedroom has walk in closet. Laundry room including washer and dryer and cabinet space. 2 car garage and golf cart garage. Enjoy the large screened in patio or exterior covered patio overlooking the desert landscaping and golf course. A MUST SEE!

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4232 N 161st Avenue Goodyear, AZ 85395

$669,999

4 Beds

3.5 Baths

3,122 SqFt

Status Active

MLS # 6756990

Property Type Single Family Residence

Price Type --

4 Bedroom 3.5 Bath, 3 Car Garage & RV GATE. Custom Iron Gate Entrance into Private Courtyard. Beautiful Custom Tiled Entrance as you enter. TILE T/O except bedrooms. Open Floor Plan W/ Large Open Dining Area & Den. Great Room & GOURMET KITCHEN. Kitchen Features Beautiful GRANITE Countertops, Island, Stainless Steel Appliances, GAS STOVE ,DOUBLE OVENS, HUGE WALK IN PANTRY & 42'' CABINETS for Storage. PLANTATION SHUTTERS. Spacious Primary Suite with gorgeous bathroom w/ a Glass WALK-IN SHOWER, Separate Tub & double Sinks w/ Granite Countertops. 8' Interior Doors & 3 Secondary Bedrooms w/ Generous Closets. Garage W/ Cabinets & Overhead Storage Racks. Large Backyard professionally landscaped with ARTIFICIAL TURF & covered patio

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10822 E Ramblewood Circle Mesa, AZ 85212

$669,999

4 Beds

3 Baths

2,367 SqFt

Status Active

MLS # 6769481

Property Type Single Family Residence

Price Type --

Welcome to this beautifully updated home featuring new wood tile floors throughout, combining style and durability for a low-maintenance lifestyle. The upgraded kitchen is a chef's delight, equipped with modern appliances, sleek countertops, and ample storage space, making cooking and entertaining a pleasure. Retreat to the luxurious primary bathroom, which has been thoughtfully renovated to offer a spa-like experience with elegant finishes and fixtures. This home is complete with stylish shutters that provide both privacy and natural light, enhancing its charm. Located in the highly sought-after Gilbert school district. Don't miss this incredible opportunity to own a beautifully upgraded home in one of the East Valley's most desirable zip codes!

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22705 E Roundup Way Queen Creek, AZ 85142

$669,990

3 Beds

2.5 Baths

2,702 SqFt

Status Active

MLS # 6770665

Property Type Single Family Residence

Price Type --

''Discover the highly sought-after Craftsman style Topaz floorplan, featuring 3 spacious bedrooms, 2.5 luxurious baths, and a versatile bonus room tailored for your lifestyle. The 6x36 wood plank tile flooring adds warmth and charm throughout the living areas. Step inside and be inspired by the gourmet kitchen, perfect for any culinary enthusiast. It boasts a 5-burner gas cooktop, built-in oven and microwave, and a stylish chimney hood. The white shaker cabinets with crown molding harmonize beautifully with the white quartz countertops and subway tile backsplash. Enjoy seamless indoor-outdoor living with a stunning 4-panel sliding door that floods the space with natural light. Retreat to the primary suite, featuring an enlarged tiled shower for a spa-like experience. Additional highlights include a convenient butler's pantry, an electric car charger package, and extra wiring for lighting and fans throughout the home. Thoughtful details like 8' interior doors, 4¼ baseboards, and a laundry-to-closet interior door enhance both functionality and style. Plus, benefit from pre-plumbing for a sink and water softener, perfectly suited to your needs. With a double gate and modern amenities designed for today's living, this Craftsman Topaz offers the perfect blend of comfort and elegance. Don't miss the chance to make this exceptional home your own!

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3249 W Via Dona Road Phoenix, AZ 85083

$669,990

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.

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42158 N Golden Trail San Tan Valley, AZ 85140

Open House

$669,990

4 Beds

3 Baths

2,513 SqFt

Status Active

MLS # 6733569

Property Type Single Family Residence

Price Type --

***Home for the Holidays!!!!*** Estimated completion November 2024!! - Welcome to Edgewood Estates, where luxury meets practicality! Step through the expansive foyer into a spacious great room, boasting a stunning wall of windows, perfect for entertaining guests or enjoying family time. The kitchen is a chef's dream with beautiful cabinets, a spacious island for meal prep or casual dining, and high-end finishes throughout. Retreat to the private primary suite featuring a relaxing primary bath and a generously sized walk-in closet. This home also features an Extra Suite Plus, ideal for multi-generational living or hosting guests with privacy and comfort. ^Homes have been significantly discounted and have the option of short/long term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply.

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14927 N 55th Drive Glendale, AZ 85306

$669,980

5 Beds

3.5 Baths

3,053 SqFt

Status Active

MLS # 6755286

Property Type Single Family Residence

Price Type --

LEED Certified Gold Home. 5 Bedroom all with walk in closets. 3.5 Bath, Huge loft. 2 car Garage. Benton Birch Burlap Cabinets. New Caledonia granite kitchen countertops. Kitchen 42'' uppers. GE gas range, SS appliances. Tile flooring is 6'' X 36'' wood looking tile

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4208 E Oak Street Phoenix, AZ 85008

$669,900

3 Beds

2 Baths

1,781 SqFt

Status Active

MLS # 6778096

Property Type Single Family Residence

Price Type --

Seize the opportunity to live in the coveted Arcadia neighborhood, nestled close to premier shopping, dining, and entertainment. This exquisitely updated home sits on just over a quarter-acre and features three bedrooms and two bathrooms across 1781 square feet with an expansive great room design and additional sunroom. The kitchen boasts pristine white cabinets, Quartz and butcher block counters, a remarkable Frigidaire gas stove with pot filler, custom tile backsplash, and a central island with a breakfast bar. The main bedroom is equipped with an ample walk-in closet, a stylish accent wall, and a sliding barn door that opens to an en suite bathroom with a dual-sink vanity and a tiled shower featuring a rain showerhead and glass enclosure. An enclosed patio adds a versatile living area ideal for a home office or fitness space. The vast backyard offers abundant grassy areas for children and pets, mature trees for shade, a large patio for gatherings, a covered shuffleboard court, an RV gate with a concrete slab for extra parking, all surrounded by a block fence for privacy. Additional features include a single-car garage with extra carport space, a charming entrance with exterior shutters and a Dutch front door, an electric fireplace in the great room, custom window treatments, recessed lighting, luxury vinyl plank flooring in the common areas, an inside laundry room, and much more.

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8045 N 14th Street Phoenix, AZ 85020

$669,900

3 Beds

2 Baths

1,758 SqFt

Status Active

MLS # 6745672

Property Type Single Family Residence

Price Type --

**Attention** Investment opportunity in North Central Phoenix! This property includes a 1758 Sf Main Home and 900 SF Remodeled Casita. Both units are leased, generating $4,320/lease monthly. NO HOA. 15,027 Sf lot with plenty of room for future expansion. The main home includes a spacious kitchen, living/family room, large, covered patio with a large backyard and RV gate. The 2-bed, 1-bath Casita includes New white shaker cabinets, stainless-steel appliances and LVP flooring. Conveniently Located near the Phoenix Mountain Preserve with quick access to hiking trails, Great Local dining, shopping, and the 51 Freeway. Quick access to anywhere in the valley, 10 minutes to Downtown Phoenix. If you're looking for an investment opportunity, check this out today to see the potential for yourself

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