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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16881 W Merrell Street Goodyear, AZ 85395

$659,900

2 Beds

2.5 Baths

1,903 SqFt

Status Active

MLS # 6748944

Property Type Townhouse

Price Type --

Prepare to be pleased as you drive up to this highly upgraded Villa! Beginning with the beautiful iron gate at the entrance of the home. Builder options and upgrades of $130,000 + another $30,00 in owner upgrades after construction! The fine details of the home include but are not limited to: Stone Creek Library media wall, Dagr Design Entertainment center, painted by AZ Concepts, fireplace, Shelf theory pull out drawers. Premier lighting, Neil' s garage cabinets, overhead garage storage rack, which were all owner upgrades after construction. Options and upgrades by the builder are too numerous to list but are available upon request. This is a ''MUST VIEW'' Villa! Once you experience the ''FEEL'' when you enter this home you won't want to leave!!

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9035 W Quail Track Drive Peoria, AZ 85383

$659,900

4 Beds

3 Baths

2,626 SqFt

Status Active

MLS # 6772738

Property Type Single Family Residence

Price Type --

This single-story home is ready to be yours! The 3-car tandem garage allows you to bring all your vehicles. Inside, you'll find a great open layout that seamlessly merges all areas for entertaining. Fireplace, plantation shutters, fire sprinklers, durable tile flooring, pre-wired surround sound, & soothing paint are worth mentioning. The kitchen has staggered cabinets w/crown moulding, SS appliances, tile backsplash, a pantry, granite counters, & an island w/breakfast bar. The semi-open den is ideal for a formal dining, office, game area, you name it. Discover the main bedroom boasting backyard access & a private bathroom w/huge walk-in closet & a separate tub/shower. The backyard offers fragrant citrus trees, grassy area, pool, spa, palm trees galore, & covered patio. Move-in ready!

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615 Andante Drive Sedona, AZ 86336

$659,900

3 Beds

2 Baths

1,622 SqFt

Status Active

MLS # 6773472

Property Type Manufactured Home

Price Type --

Location, location, location! Your Sedona retreat awaits you at this newly renovated, updated home located near soaring Thunder Mountain, Chimney Rock and Coffee Pot. Move-In Ready or Short-term rental possible (buyer to confirm) New roof August 2024 to ensure years of weather-ready living. Vaulted ceilings throughout and dormers in the main living spaces add to the open and airy feel. Easy-to-care-for LVP floors - with custom baseboards throughout. Modern Zebra blinds brighten windows in all rooms across the front of the house; new, woven, honeycomb blinds are found at windows across the back. You will surely enjoy entertaining in the charming, sunlit, well-appointed, eat-in kitchen with newer appliances and lighting. Formal dining is also an option, and views of the red rocks (More) from both rooms. Centered in the living room is a wood burning fireplace with new tile and an electric blower for added winter warmth. Designer bathrooms have been fully upgraded with new tile, showers, sinks, granite countertops, lights and mirrors. The primary bathroom also boasts a stand-alone soaker tub from which mountain views can be enjoyed while soaking away the stress of the day. (Bedrooms currently feature new smart TVs and Arizona-made, Brooklyn Bedding mattresses, CA King in primary, head-and-foot adjustable Queen in second, and bunkbeds with twin and full in third bedroom.) You'll also find large closets, fresh paint and upgraded fans in the bedrooms. The third bedroom could also function nicely as an office/den/library, or nursery. The laundry room is outfitted with a heavy-duty Whirlpool washer and dryer, two lockable storage closets and a built-in desk/folding counter. More storage is found in the backyard shed with a new roof, easily transformed into a Mancave or Sheshed. This one-level home offers 1,621 square feet of comfortable living space. Two huge, front and back decks with new, built-to-code railings - add considerably to outdoor living, and with ample space to practice yoga, entertain or simply relax and enjoy the weather and beautiful views of the Red Rocks! This property is close to a network of forest hiking and biking trails, the Amitabha Stupa and Peace Park - all this away from the hustle and bustle - yet just minutes from shopping, restaurants, theaters and galleries. Location, location, location, indeed!

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532 N Bell Drive Chandler, AZ 85225

$659,900

4 Beds

2.5 Baths

2,788 SqFt

Status Active

MLS # 6777139

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4-bedroom, 3-bath home featuring soaring vaulted ceilings and a spacious layout where the kitchen seamlessly opens up to the family living space. The modern kitchen boasts a convenient island and stainless steel appliances, including a microwave, range, and dishwasher, making it perfect for entertaining. The primary en-suite is conveniently located on the main level, while upstairs you'll find three additional bedrooms and a versatile loft area. Step outside to the large back porch, ideal for relaxation, and enjoy the refreshing pool, creating a perfect outdoor oasis for gatherings and summer fun.

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9233 E Sector Drive Mesa, AZ 85212

$659,900

4 Beds

3 Baths

2,410 SqFt

Status Active

MLS # 6774348

Property Type Single Family Residence

Price Type --

MOVE IN READY HOME! This WILSON plan was the former Model and it is stunning! This home includes all the appliances, chandeliers, window treatments and ceiling fans in the home. This home features 'Brellin Purestyle' (Greige color) cabinets with Satin Nickel pulls throughout the home. 'Bianco Levanto' Quartz countertops in Kitchen and Jasmine White Quartz countertops in Owners Bath and Bath 3. Upgraded shower surrounds in bathrooms and upgraded wood tile throughout the downstairs and carpet flooring in the bedrooms. The finished backyard includes an impressive fireplace welcoming family and friends to cozy up! Too many upgrades to list!

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2071 E Remington Place Chandler, AZ 85286

New

$659,900

4 Beds

2.5 Baths

2,378 SqFt

Status Active

MLS # 6778065

Property Type Single Family Residence

Price Type --

Charming Chandler home with 4 spacious bedrooms, 2.5 bathrooms, a den, & a loft, there's plenty of room for everyone. The kitchen is complete with a granite island, ideal for entertaining. The spacious master suite features a private gas fireplace, laminate wood flooring, his-and-hers built-in dressers, and a large walk-in shower. Step into your resort-style backyard with a covered patio, separate ramada, built-in gas BBQ, firepit, specialty lighting, planters, and a play pool with a waterfall. Low-maintenance synthetic grass keeps it easy year-round. The property also includes a 3-car garage, RV gate, and extra parking slab. Located on a quiet cul-de-sac near parks and greenbelts!

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2114 E Escuda Road Phoenix, AZ 85024

$659,900

4 Beds

3 Baths

2,580 SqFt

Status Active

MLS # 6656083

Property Type Single Family Residence

Price Type --

Welcome to this well maintained home in the highly coveted Mountain Cove subdivision. Rare 4 bed/3 full bath floor plan in a prime North Phoenix location with beautiful mountain views, N/S exposure, friendly neighborhood ambiance and no HOA. You'll love the soaring vaulted ceilings upon entry and in the formal living and dining areas. The kitchen, complete with upgraded cabinetry, granite counters and a spacious island, seamlessly flows into a second living area with a custom fireplace. Lower level hosts one bedroom and full bath, along with an office featuring a built in workstation that can easily be converted to a 5th bedroom. Upstairs you'll find a bonus loft area. The upstairs primary suite features a balcony for enjoying the scenic views. Step outside to a low maintenance backyard, covered patio and built in BBQ for relaxation and entertaining. New roof March '24. Don't miss this opportunity to live in close proximity to the 51, 101 and I-17 freeways. Enjoy everything that Desert Ridge, High Street and Scottsdale has to offer. Close to hiking trails and in the Paradise Valley School District.

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10757 N 74th Street Unit 2012 Scottsdale, AZ 85260

$659,900

3 Beds

2 Baths

1,932 SqFt

Status Active

MLS # 6707453

Property Type Townhouse

Price Type --

Reduced!! Complete remodel! Recent comp in same complex sold July 2024 for 691k with no upgrades. 3 bedroom, 2 bath, 2 car garage in the perfect location. Newly updated with new plank and tile floors, new cabinets with soft close doors and drawers, all new light fixtures including LED can lights, new faucets, new sinks, updated showers with glass doors, new freestanding tub. This is a master bedroom split floorpan, open kitchen with dining area, great room with electric fireplace and electrical on wall for your flat screen TV. New 18 bottle wine fridge in kitchen, large island with navy cabinets with gold hardware, extra storage and waterfall countertops. White wood shutters on the dual pane insulated windows along with insulated walls for dramatically sound reduction. Click for more 2 car garage has upgraded metallic epoxy floors. New paint everywhere. Large bedrooms to fit king beds and furniture. Big fans in each bedroom with remote controls. Each bedroom has a walk-in closet with shelves, the master has and drawers with locks. Each bathroom has new cabinets, new light fixtures with new black framed mirrors. There is a separate large laundry room with frontload washer and dryer with new cabinets and more storage behind the door. There are 2 balconies, one is a large covered balcony big enough for a comfortable patio seating set and the other balcony is uncovered. Close to the 101 freeway, great restaurants, grocery stores and entertainment. Townhome is north south exposure. You'll love this! Community has a private community pool and common areas are always clean. Please come see and enjoy. open to offers

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9904 E Monterey Avenue Mesa, AZ 85209

$659,900

4 Beds

2 Baths

2,701 SqFt

Status Active

MLS # 6735242

Property Type Single Family Residence

Price Type --

$10,000 seller credit!!! Welcome to this beautiful home in the Prestigious Augusta Ranch Golf community. Home has 4 large Bedrooms, Split Floor Plan, Separate Living & Family Rooms w/ Vaulted Ceilings. The Eat-In Kitchen has an Island/Breakfast Bar, Gas Range, b/i Microwave, walk in pantry & additional built in Cabinets in Laundry Room. Primary bathroom has Shower & Tub, Dual Sinks & Walk-In Closet. This home has Ceiling fans, wood plantation shutters & neutral 2 tone paint throughout. The Large Backyard is perfect for your next BBQ w/ an enormous Covered Patio & 3 fruit trees (lime, orange, grapefruit), palm trees and is extra spacious. 3 car Garage has many b/i Cabinets, Service Door & tankless water heater. This home is in one of the best communities in East Valley.

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1413 W Coral Reef Drive Gilbert, AZ 85233

$659,900

4 Beds

2.5 Baths

2,490 SqFt

Status Active

MLS # 6769275

Property Type Townhouse

Price Type --

This stunning waterfront villa is situated in the highly sought-after Coral Reef subdivision at The Islands. Featuring 4 bedrooms and 2.5 baths, the home offers breathtaking lake views from the master bedroom, family room, and dining room. The first floor and all bathrooms are adorned with elegant Travertine flooring. Enjoy your morning coffee or evening sunsets on the patio, located right by the water's edge. The community pool is just steps away, making this home not only a place to live, but a lifestyle to embrace.

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12926 W Katharine Way Peoria, AZ 85383

$659,900

2 Beds

2 Baths

1,925 SqFt

Status Active

MLS # 6732085

Property Type Single Family Residence

Price Type --

**Price Reduction of $10,000.**Resort Living in this Highly Upgraded Popular ''Nice'' Model, Features a Stainless Gourmet Chefs Kitchen with 36'' Kitchen Aid INDUCTION Cook Top, Wall Oven, Microwave, Granite Counters, Pendant lighting, Decorator Backsplash, Large Sink, Roll Out Shelves & Under Counter Lighting. Great Room features Entertainment Wall w/ Floating Shelves, Stone & FP. Wood Floors in Great-room, DR & Den. Crown Molding & Shutters. Granite & Cabinets in Smart Room W/Sink, Beverage Cooler & BI Desk. Bathrooms Boast Granite Counters, Framed Mirrors & His/Her Vanities in Master. Large Entertainers Private Backyard w/ Multiple Paver Patios for Social Functions. A Covered Patio W/ Commercial Misters, B/I Sundance Spa, Gas Firepit, Fountain, Outdoor Kitchen, Synthetic Grass, Mature Plants & Mountain Views, Custom Glass & Iron Front Door. Garage features Wall of Cabinets for your Storage Needs, Epoxy Floors, New Garage Door Opener, Service Door to Enclosed Trash area. Paver Driveway and Walk Ways. Many upgrades in this Beautiful home. Interior painted in 2023, Exterior painted in 2020, New Water Heater 8/2024

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44811 N 12th Street New River, AZ 85087

$659,800

3 Beds

2 Baths

2,072 SqFt

Status Active

MLS # 6768506

Property Type Single Family Residence

Price Type --

Acre+ Private Santa Fe Territorial Home with 10 ft soaring ceilings. Awesome mountain and desert views with a private setting to enjoy and relax in the AZ Climate. Home features 3 bedrooms 2 baths, fireplace, 2.5 car garage, den, and fireplace. Spacious primary bedroom with large walk in closet. Primary bath has large garden tub, Huge Seperate shower, and double vanity sinks. Open floorplan with Great Rm concept featuring large picture windows, fireplace, and 10ft + beamed ceilings. Loads of sspace for all your toys and vehichles. No hoa.

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