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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18235 E Coronado Cave Court Rio Verde, AZ 85263

$669,000

3 Beds

2.5 Baths

1,678 SqFt

Status Active

MLS # 6674813

Property Type Single Family Residence

Price Type --

Unobstructed Views of the Majestic Four Peaks whether you step in or out of this highly upgraded Brand New Valletta Model at Trilogy. This 3 bed, 2.5 bath cul-de-sac residence has beauty and privacy with no neighbors at the back or the unattached side. The gourmet Grey/white kitchen boasts a stunning large Quartz Waterfall Island with a breakfast bar and equipped with built in SS Monogram wall appliances with an electric cooktop and a pantry. The upgraded stacked slider doors in the Great room opens to an extended patio, complete with an upgraded pergola and extended pavers. The Primary bedroom with a walk in closet, custom tiled master bath thoughtfully upgraded with a door for privacy. Brand New Washer Dryer and the lock and leave home comes with the builders Warranty too.

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2265 S Willow Way Pinetop, AZ 85935

$669,000

3 Beds

2.5 Baths

1,829 SqFt

Status Active

MLS # 6758749

Property Type Single Family Residence

Price Type --

Welcome home to your mountain retreat in the heart of Pinetop, Arizona, nestled within the majestic Ponderosa pines of the beautiful White Mountains. This custom new construction home offers the perfect blend of modern luxury and serene mountain living. ***Featuring exquisite custom doors and windows, this home is designed to capture the natural beauty of its surroundings while providing an abundance of natural light and stunning views. ***The spacious and inviting covered deck is perfect for outdoor living, allowing you to enjoy the fresh mountain air and tranquil forest setting year-round. ***Step inside to find an open-concept layout with high-end finishes and thoughtful design touches throughout. The home boasts luxury vinyl flooring and quartz countertops, complemented by More.. dovetail, soft-close cabinets throughout. ***The kitchen is a chef's delight, featuring a huge island, Whirlpool stainless steel appliances, and a gas stove, all seamlessly integrated into the living and dining areas. ***Aspen tongue-and-groove vaulted wood ceilings in the great room extend to the covered deck, enhancing the home's rustic charm. ***The master suite offers a luxurious custom-tiled shower and a large soaker tub, providing a private oasis. Guest rooms are thoughtfully located on the opposite side of the home for added privacy and comfort. ***Additional features include a spacious pantry, a separate laundry room with ample storage, and a large 650 sq. ft. garage designed to accommodate a full-size pickup and SUV. ***The home has spray foam insulation for the ultimate energy efficiency year round. The location is just half a mile to the crown jewel of Pinetop-Lakeside, Woodland Lake Park, offering endless opportunities for outdoor activities and scenic beauty. Experience the unparalleled charm and comfort of this custom home. Surrounded by nature and crafted with meticulous attention to detail, it's a haven for those seeking a unique and luxurious mountain lifestyle. Book your private tour today and make this extraordinary property your own! What makes this home extra special are the builder upgrades to the home: Upgraded exterior and interior doors Upgraded Windows Spray foam insulated including garage Upgrade cabinets with dove tail drawers, boxes made out of real wood not partial board. Soft closing drawers and doors. Custom tiled master bath and soaking tub. Guest bath custom tile. Vaulted ceilings with aspen tongue and groove 11''x27' covered back porch with aspen t&g lid. Corner lot with extra ground due to utility easements on two sides to make a bigger lot. Custom insulated 8 ' garage door for 650sqft garage 30 year roof. Over built foundation for extra strength with interior footing. Split face block stem walls.

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23906 S Sunland Court Sun Lakes, AZ 85248

$669,000

2 Beds

2.5 Baths

2,151 SqFt

Status Active

MLS # 6764544

Property Type Single Family Residence

Price Type --

The Paloma model is a stunning 2-suite 2.5-bath home with custom closet built ins, offering 2,151 sqft of open living space and a 2.5-car garage with plentiful room for your golf cart. It is situated in the highly sought after Oakwood community within Sun Lakes. Dedicated to active adults, this home is part of a vibrant retirement destination. Residents can enjoy lunch or dinner at the 'Stone and Barrel,' on ground's restaurant, watch the game on the 25 televisions at the Ironwood Grill, or just relax with a drink while watching the sunset over the lakes at the various eating establishments all within the Sun Lakes community. Surrounded by mature landscaping, this community features 45 holes of golf, 10 lighted tennis courts, 10 pickleball courts, and a 25-meter lap pool, spa sauna, and fitness center personal training options. You'll also find scenic trails and walkways throughout the four different phases, over 100 clubs to partake in, and amenities for formal or informal gatherings. Making it a perfect spot for creating memorable events. The home itself sits on a wonderfully large landscaped quarter acre, (room enough for an additional casita) within a quiet cul-de-sac. It boasts a new roof replaced in 2023, new A/C units in 2023, new natural stone tiles, extra tall baseboards, granite countertops with stone backsplashes, and remodeled bathrooms. The generous laundry room includes a convenient sink, and cabinets for ample storage. A mirrored wet bar, cozy fireplace, and a spacious covered patio with an automatic retractable awning complete this elegant jewel. Perfect for entertaining or relaxing. Come home to this age appropriate oasis in the Valley of the Sun.

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12237 W Ashby Drive Peoria, AZ 85383

$669,000

4 Beds

2.5 Baths

2,476 SqFt

Status Active

MLS # 6765595

Property Type Single Family Residence

Price Type --

Welcome to this stunning single-level home on a corner lot in the highly sought-after Vistancia Village. This N/S exposure corner lot offers direct access to Vistancia's Discovery Trail. This 4-bed, 2.5-bath open floorplan features: 10-foot ceilings, wood shutters with invisible louvers, custom nooks, security-lock with mesh steel screen doors, ceiling fans, custom lighting fixtures and no carpet though out. The Chef's kitchen showcases the built-in SS appliances, oversized island, and beautiful Knotty Alder cabinets. The 4-car garage is equip with built in cabinets and a work bench. The single bay garage has a mini-split air conditioning unit, perfect for a home gym, art/hobby room or classic car! Host amazing parties in the professionally landscaped yard with resort style pool & landscaping and artificial turf. Take in the amazing Arizona sunsets while grilling at the built-in BBQ island or relaxing under the pergola. Rated the top master planned community several years in a row, Vistancia Village offers a lifestyle that includes pickleball, golf, 3 swimming pools, trails, parks, clubs and classes for all interests and a large offering of community events! Perfectly situated off the 303 freeway, enjoy easy access to shopping and dining!

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1717 N 1st Avenue Unit 217 Phoenix, AZ 85003

$669,000

2 Beds

2 Baths

1,275 SqFt

Status Active

MLS # 6770698

Property Type Apartment

Price Type --

The residence at artHAUS offers one of the only two distinctive floor plans. It features a split layout encompassing 1,275 sqft, 2 bedrooms/2 bathrooms, an open-concept design with high ceilings & abundant natural light. This unit comes with two parking spaces in a secured and enclosed parking garage, with one of the spaces equipped with a universal EV charger. Furthermore, the owner has implemented several elegant customizations to the unit, including the custom-designed staircase, the upgraded closet design & lighting system, a spacious kitchen island, backsplash, under-cabinetry lighting, upgraded toilets, & ceiling fans. artHAUS comprises 25 urban dwellings designed and developed by Jason Boyer, the recipient of the 2017 Builder's Choice & Custom Home Design Award Conveniently situated within walking distance of popular attractions such as the Phoenix Art Museum, Hance Park, and the ASU Downtown Campus, as well as some of the finest dining options in Phoenix, artHAUS prioritizes sustainability and energy efficiency. All units meet stringent Energy Star and LEED for Homes certification criteria. The building has a rooftop solar array that offsets 100% of the HOA power demand and enclosed parking garage facilities with electric vehicle charging stations available to residents.

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40478 N Wood Lane San Tan Valley, AZ 85140

$669,000

3 Beds

2.5 Baths

2,586 SqFt

Status Active

MLS # 6770116

Property Type Single Family Residence

Price Type --

Everything about this home is perfect. The layout, the lot, the upgrades, the backyard and the community! The home has been tastefully upgraded throughout and features custom touches that make it a standout. The kitchen is a dream - with quartz countertops, tasteful backsplash,tons of cabinet space, stainless steel appliances, gas stove and custom hood, in wall oven and a huge island to entertain friends and family. The great room has a wall of glass that makes the space feel even larger and allows conversations and views to flow easily from inside to outside. The backyard is perfect - pool, pergola, BBQ and large covered patio are ready for you to enjoy the upcoming fall and winter cooler weather.Back inside, the secondary bedrooms have walk in closets and both them and the office are spacious. The master suite has tons of natural light due to the bay window plus a huge closet. The master bath is as upgraded as the rest of the home with gorgeous appointments to the shower, flooring and countertops. The powder bath is perfect for guests and the secondary bath is large enough to be shared and not feel cramped. The home has so many other gems to offer - RV's are welcome, the smart home apps allow you to control the garage door, yard watering system, thermostat, and Ring doorbell remotely, most of the interior flooring is wood look plank flooring, the pool is salt water, there is a gas stub in the backyard to add to the oasis, sunscreens, lush landscaping and tons of storage inside are some of them!

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10203 N 185th Lane Waddell, AZ 85355

$669,000

4 Beds

3.5 Baths

2,554 SqFt

Status Active Under Contract

MLS # 6772523

Property Type Single Family Residence

Price Type --

Experience luxury in this Arizona desert oasis, featuring a residence and a fully equipped attached casita/guest house, perfect as an in-law suite, for guests, or rental income. The resort-style backyard includes a saltwater pool and spa, limestone patio, high-end BBQ grill, outdoor kitchen, cozy fire pit, and landscape lighting. The home offers 4 bedrooms, a den/office, plantation shutters, and an updated bathroom with a custom walk-in shower. Enjoy an open concept living area with high ceilings, surround sound, and a gourmet kitchen. Additional features include an RV gate, security cameras, and a 3 1/2-car garage with epoxy flooring, cabinets, and room for oversized trucks. Easy access to White Tank Mountains and Prasada shopping/dining.

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861 N Soho Place Chandler, AZ 85225

New

$669,000

4 Beds

2 Baths

2,136 SqFt

Status Active

MLS # 6780830

Property Type Single Family Residence

Price Type --

Step into one of the few 4-bedrooms in this park-filled neighborhood, featuring a modern split floor plan. This fully remodeled, move-in-ready home shines with a designer kitchen—complete with pristine white cabinets, quartz counters, an oversized island for entertaining and brand-new Frigidaire Gallery stainless steel appliances. Enjoy an inviting, bright atmosphere with beautiful new floors, quartz countertops, and vaulted ceilings throughout. The main living area's cozy gas fireplace creates a focal point for family gatherings, while the primary suite offers a true escape with a spa-like bathroom retreat. Outside, low-maintenance desert landscaping and a covered front patio make for enviable curb appeal. The backyard is an entertainer's dream with a covered patio, sparkling pool, and no backyard neighbors for enhanced privacyperfect for Arizona summers. Ideally located near top grocery stores, coffee shops, and dining, this rare find is where style meets convenience. Homes like this don't last long!

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2595 Kettle Way Happy Jack, AZ 86024

$669,000

4 Beds

2 Baths

1,983 SqFt

Status Active

MLS # 6693920

Property Type Single Family Residence

Price Type --

Nestled amidst the picturesque landscapes of Happy Jack, Arizona, stands a magnificent custom home that embodies the epitome of luxury living. With four bedrooms and two baths, this residence offers a spacious and inviting retreat. The cathedral ceiling adds a sense of grandeur to the home, while a wall of cased windows floods the interior with natural light, offering panoramic views of the surrounding landscape. Adjacent to the great room is the beautiful, spacious kitchen, a culinary haven with ample counter space, and custom cabinetry, it's a chefs dream. In every corner of this home, from its elegant design to its breathtaking views, there lies a sense of peace and tranquility that is simply unmatched. It's a must see!

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20925 E Via Del Oro -- Queen Creek, AZ 85142

$669,000

4 Beds

3 Baths

2,402 SqFt

Status Active

MLS # 6744959

Property Type Single Family Residence

Price Type --

This beautifully remodeled home has it all! 4 bedrooms, 3 full baths with a pool, 3-car garage, separate downstairs guest quarters, dual walk-in closets & jacuzzi tub in the primary suite, water softener, oversized lot with mature fruit trees & putting green. You get all that PLUS access to the community center with community pool, golf course, gym and more! Walk or ride your golf cart on over to the bistro, Founder's Park, doctor's offices, shopping - you name it - all your conveniences are under a mile away! This is truly a rare find in the heart of Queen Creek.

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34218 N 26th Avenue Phoenix, AZ 85085

$669,000

6 Beds

4 Baths

2,903 SqFt

Status Active

MLS # 6760835

Property Type Single Family Residence

Price Type --

Stunning home with commercial water sprinkler system. Home with over 3200 square feet of living space, six bedrooms and four bathrooms. The great room and family room are both very large. Professionally done new interior paint. Kitchen cabinets have also been redone. New carpet throughout. The home is immaculate, spotless and move in ready. Fully fenced in yard with block wall for privacy. No neighbors behind or on the south side of home.

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10695 E Straight Arrow Road Dewey, AZ 86327

$669,000

4 Beds

4 Baths

3,298 SqFt

Status Active

MLS # 6760408

Property Type Single Family Residence

Price Type --

Nestled in the desirable Prescott Country Club community, this home offers comfort, convenience, and captivating views. This 4-bedroom haven is move-in ready. Step inside to discover a bright living space with a remodeled kitchen. New furnace and water heater (2023) ensure year-round comfort, while updated windows frame stunning vistas. The main level features single-level living with 3 bedrooms, laundry, garage, and an office. The lower level boasts an in-law suite with a kitchen, living room with a fireplace, and a sauna. Imagine hosting gatherings on the expansive deck, taking in the views, or firing up the BBQ. Additional highlights include a 2.5-car garage with built-ins, a second laundry downstairs, pre-wired surround sound, and skylights. This house is truly a home.

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