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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10835 E Tesla Avenue Mesa, AZ 85212

$670,000

3 Beds

2.5 Baths

2,462 SqFt

Status Active

MLS # 6737188

Property Type Single Family Residence

Price Type --

MUST SEE TODAY! Gorgeous property in the growing La Mira! This home offers excellent curb appeal with a low-care front yard, a 2-car garage, and an RV gate. The interior boasts a large open concept with tall ceilings, ceramic tile flooring, plush carpet, and abundant natural lighting. The fabulous white kitchen showcases staggered cabinets, SS appliances, granite counters, a large island with breakfast bar, and a walk-in pantry. The split owner's suite allows great privacy, and its immaculate bathroom with a huge dual vanity & an oversized shower makes it a perfect retreat to unwind after a long day. The secondary bedrooms share a Jack & Jill bathroom. Additionally, you'll find 2 dens, one perfect for an office & a larger one for a game/entertainment center. Discover a spacious backyard with covered patio and artificial turf, making an ideal spot for fun & entertaining. This fabulous community features a lush park with playground and a pool. What's not to like? Hurry to see this amazing residence before it's too late!

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11445 E Paloma Avenue Mesa, AZ 85212

$670,000

4 Beds

2.5 Baths

2,951 SqFt

Status Active

MLS # 6756927

Property Type Single Family Residence

Price Type --

Amazing mountain views the master bedroom, loft, and front porch. This stunning home is recently remodeled with quartz kitchen counter tops, large 24x48 tiles throughout the first floor, LVP flooring on stairs and loft, carpet in all bedrooms, fresh paint inside and outside, and epoxy garage floors. This house features 4 BR, 2.5 baths, plus a den and loft. Two story ceiling in family room. Well-manicured backyard with pebble tech play pool & flagstone flooring outside covered patio area. Surround sound with built-in speakers. Truly a great neighborhood in Gilbert school district.

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3640 S Springs Drive Chandler, AZ 85286

$670,000

5 Beds

3 Baths

2,634 SqFt

Status Active

MLS # 6765710

Property Type Single Family Residence

Price Type --

Newer AC Units! Newer roof! Brand new water heater! Exterior and Interior have just been painted. This stunning home is in the Highly sought after community of Lantana Ranch built by Fulton Homes. Featuring 5 Bedrooms + Loft and 3 full Bathrooms and no neighbors behind you all with a beautiful pool. Enjoy the luxury of having a spotless vehicle from the dedicated soft water line in front. Pride of homeownership is shown in this well maintained home by original owners. This home has been well kept up inside and out with no expense being spared. Walking distance to Paseo Vista Recreation park, walking trails, and many other outdoor activities like Frisbee golf and an archery range. There is also a community park right up the street. There are several major shopping centers within 2 miles. The 202 Frwy is also just 2 miles away. One bedroom downstairs right next to bathroom. Don't miss the opportunity to see this stunning home.

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12427 N 38th Street Phoenix, AZ 85032

$670,000

3 Beds

2 Baths

1,264 SqFt

Status Active

MLS # 6769033

Property Type Single Family Residence

Price Type --

Come & see this amazing property located in the highly sought after area of 40th St. & Cactus, near the 51 & shopping! This gorgeous home boasts charming curb appeal, low maintenance gravel landscaping, 2-car enclosed carport, RV gate (paved area behind gate), neutral paint, new laminate floors, cozy fireplace & lots of storage areas! The lovely kitchen offers matching stainless steel appliances, Silestone- Quartz countertops, tile backsplash & a pantry. The master suit features a private exit, bathroom with his & her sinks & a nice walk-in closet. The expansive backyard boasts a large covered patio, 2-8x10 Tuff Sheds, 1-10x16 Tuff Shed Workshop & tons of potential for you to personalize it & make this house your own.

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7232 E Maverick Road Scottsdale, AZ 85258

$670,000

3 Beds

2 Baths

2,581 SqFt

Status Active

MLS # 6780712

Property Type Single Family Residence

Price Type --

3 BEDROOMS (COUNTING THE LOFT) MAKES THIS HOME A GREAT BUY FOR ANY FAMILY LOOKING FOR LOTS OF SPACE! HOME ALSO FEATURES A HUGE OPEN KITCHEN WITH JENN-AIR APPLIANCES and WINDOWS LOOKING OUT INTO YOUR VERY PRIVATE YARD. BEAUTIFUL GAZIBO SURROUNDED BY PLUSH LANDSCAPING. MAIN BEDROOM IS HUGE WITH WALK-IN CLOSET AND LARGE PRIVATE BATH. ENJOY THE BUILT-IN BBQ GRILL JUST OUTSIDE THE KITCHEN WITH FIRE PIT AND REMOTE CONTROL AWNING. NEED AN OFFICE SPACE? THE 13X20 LOFT WOULD BE PERFECT! THIS PET SAFE HOME IS ENTIRELY SURROUNDED BY A 7' STUCCO WALL FOR SAFETY and PRIVACY. THE POOL HAS BEEN FILLED IN BUT CAN BE RECOVERED. EXTRA STORAGE IN THE CUSTOM ATTIC ENTRY. COMPARE SIMILAR SQ FTGE HOMES IN 85258 AND YOU'LL SEE THE REAL VALUE HERE. REMEMBER: LOCATION LOCATION LOCATION? THIS IS SUCH AN EXAMPLE

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2742 W Wayne Lane Anthem, AZ 85086

$670,000

5 Beds

3 Baths

2,648 SqFt

Status Active

MLS # 6764184

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Welcome to your dream home, where timeless elegance meets modern convenience. The interior boasts a fresh, neutral color paint scheme, complemented by partial flooring replacement. The primary bedroom features a walk-in closet and an en-suite bathroom with double sinks, a separate tub and shower for ultimate relaxation. The kitchen is a chef's delight with a center island, accent backsplash, and all stainless steel appliances. The exterior fenced-in backyard with a private in-ground pool and a covered patio perfect for entertaining. This home is a true gem, ready to provide a comfortable lifestyle.

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2821 W Libby Street Phoenix, AZ 85053

$670,000

5 Beds

3 Baths

2,636 SqFt

Status Active

MLS # 6713274

Property Type Single Family Residence

Price Type --

Welcome to your dream home, a one-of-a-kind custom-built masterpiece that exudes elegance and sophistication. Built in 2019, this is the newest two-story house on the block, featuring a grand entry with a stunning wood door that sets the tone for the luxury within. This exceptional residence offers unparalleled luxury and modern amenities, ensuring a lifestyle of comfort and convenience. With five generously sized bedrooms, there's ample space for family, guests, or even a home office. Each bedroom is designed to provide maximum comfort and privacy, complemented by three beautifully appointed full bathrooms with high-end fixtures and finishes, offering a spa-like retreat for your daily routine.The heart of the home features custom cabinets and top-of-the-line stainless steel appliances, perfect for the home chef. Granite countertops add a touch of elegance to the kitchen's open layout, which is ideal for entertaining and family gatherings. The living spaces are adorned with stunning wood floors, and the grand wood staircase adds warmth and charm to the interior. Vaulted ceilings create an airy and spacious ambiance, while double wide patio glass doors seamlessly connect the indoors with the outdoor living areas. For those with a passion for travel, the RV gate provides convenient storage and access for your recreational vehicles, making it easy to embark on your next adventure. The home is equipped with two high-efficiency air conditioning units, ensuring comfort throughout the year. Energy-efficient windows by Milgard and foam insulation enhance the home's sustainability and energy savings. Recessed lighting throughout the home provides a modern touch and brightens every corner. The garage features an 8-foot door with extended height, perfect for larger vehicles. Additionally, the oversized water heater ensures that you'll never run out of hot water. The extended back patio is perfect for outdoor living and entertaining, complete with electrical wiring for up to three ceiling fans. The backyard also features a full-size shed for extra storage and is enclosed by a block stucco wall for added privacy and security. The home also boasts a comprehensive salt water filtration system for clean and healthy living. The exterior of this custom-built gem boasts a stylish stucco finish, adding to its unique architectural design. Every detail of this home has been thoughtfully designed to offer the utmost in modern living. From the open-concept living spaces to the high-quality materials used throughout, this home is the epitome of luxury. This property is not just a house; it's a lifestyle. Don't miss the opportunity to own this extraordinary home that combines unique design, luxurious features, and modern amenities. Schedule a private tour today and experience the beauty and elegance of this exceptional property.

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3535 W Morgan Lane San Tan Valley, AZ 85144

$670,000

5 Beds

3 Baths

3,190 SqFt

Status Active

MLS # 6720802

Property Type Single Family Residence

Price Type --

Nestled in the desirable San Tan Heights community, this 5-bedroom, 3-bathroom home offers comfort and style to impress even the most discerning buyers. The spacious newly painted home features a renovated kitchen, luxury vinyl flooring, and an inviting living space with an abundance of natural light flooding through. The gourmet kitchen is a chef's dream featuring high-end stainless-steel appliances, quartz counters and a huge island with plenty of storage. The master suite boasts a full bath with double sinks, a private toilet room, and a separate shower and tub. Outside, a private pool with a waterfall rock feature awaits, perfect for relaxing or entertaining. Three car garage with your own Tesla high speed charger. Don't miss out on this Arizona oasis!

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507 E Wesleyan Drive Tempe, AZ 85282

$670,000

4 Beds

2 Baths

2,086 SqFt

Status Active

MLS # 6727308

Property Type Single Family Residence

Price Type --

This beautiful home has been remodeled from top to bottom. Turnkey house that is upgraded to the max. New Electrical, new light fixtures, completed repainted. New front and back landscape with paver driveway extensions and front paver patio. Completely new kitchen with new appliances. New Master bathroom with his and her shower. Features a mud room and large pantry. All new upgraded tile throughout the house. New drywall, new windows, new doors and hardware and a new roof! This home is close to the University and in a great family neighborhood. Come make this your new home!

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968 S Western Skies Drive Gilbert, AZ 85296

$670,000

5 Beds

3 Baths

3,102 SqFt

Status Active

MLS # 6731733

Property Type Single Family Residence

Price Type --

Price Reduction! Sellers open to concessions towards buyer costs w/ approved offer. Upgrades including Fresh Paint, Brand New flooring, & more! GOLF COURSE LOT!** Experience luxury living in this 5 bedroom, 3 bath home overlooking the 10th hole of the Western Skies Golf Course. Pebble tech pool & scenic golf course views. Updated kitchen, features custom cabinets, granite countertops, massive island, stainless steel appliances, & a walk-in pantry. Home comes with an enhanced & transferable, Home Warranty Protection plan, which covers ALL Appliances, Plumbing, HVAC equipment, & much more! Tile flooring, vaulted ceilings, & a formal dining area. The spacious Owners suite has 2 walk-in closets & soaking tub. Home also boasts 4 large bedrooms upstairs. The den downstairs can be a 5th bedroom

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2156 E Aloe Place Chandler, AZ 85286

$670,000

4 Beds

2 Baths

2,154 SqFt

Status Active

MLS # 6774726

Property Type Single Family Residence

Price Type --

Your single story, gorgeous new home is situated on a highly desirable corner lot offering north/south exposure and total privacy in the backyard! With 4 beds (2 on each side of the house), 2 baths, 2-car garage, RV gate and desert landscaping, this home was remodeled in 1/22 to include all new LVP flooring, 5'' baseboards, interior paint, light fixtures, ceiling fans, quartz kitchen & laundry room counters, quartz backsplashes, under counter and cabinet lighting, kitchen & laundry room sinks and faucets, microwave & dishwasher. Several non-load bearing, decorative walls & columns were removed to create a wonderful open floor plan. New heating & ac installed 4/23, at which time, extensive duct cleaning was also performed. En suite primary includes dual sinks, jetted tub, walk-in shower.. ...walk-in closet & french doors leading to your very private backyard. Just outside, you'll be serenaded by the soothing sound of water trickling down the rock waterfall into your Pebble Tec swimming pool with a Baja shelf. The best part is there are no two-story neighbors surrounding your backyard! The front yard landscaping was professionally designed and installed in 2022 to include upgraded PVC piping and extensive lighting for an inviting presence at night. Welcome home!

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6334 N 19th Street Phoenix, AZ 85016

$670,000

2 Beds

2 Baths

1,751 SqFt

Status Active

MLS # 6772914

Property Type Single Family Residence

Price Type --

This is a rare opportunity to own in the coveted Estate Monterra, built by acclaimed North Central home builder, the late Paul Staman. This is a charming community tucked away in a private and quiet enclave of 36 patio homes. The patio home has been taken care of meticulously & has only had two owners since it was built,.Beautifully and tastefully updated throughout! Gorgeous kitchen with gas range and lovely breakfast nook! One level, no steps, direct access to 2 car garage, block construction, plantation shutters. 2 beds/2 baths PLUS den. Dramatic wood burning fireplace. Back patio is a peaceful sanctuary. Amazing custom built-in bookshelves and cabinets throughout. Lovely hardwood floors. This is a pristine home. Fantastic location minutes to biking & walking paths, close to the... 51 & in the center of fabulous dining & shopping at the Biltmore & North Central. This is a wonderful permanent home or 2nd home. This is an absolute must see!

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