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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

43856 N Hudson Trail New River, AZ 85087

$655,000

4 Beds

2.5 Baths

2,218 SqFt

Status Active

MLS # 6758229

Property Type Single Family Residence

Price Type --

Anthem's Best-Priced 4-Car Garage, Single level, 4 bedroom, home. A rare find for buyers with jet skis, boats, etc. Two of the four garage spaces come with a 3-foot extension ideal for larger vehicles or extra storage. The single-car garage is equipped with 220V power, perfect for your workshop or charging electric vehicles. Extra-wide driveway w/concrete extending to the RV gate. Inside features a gourmet Kitchen with gas cooktop and stainless steel hood, upgraded cabinets, & thick granite.The same high-end granite finishes extend into all bathrooms. Almost 1/4 acre lot has a spacious backyard that is a clean slate, ready for you to customize with the pool or outdoor oasis of your dreams.

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141 S 156th Drive Goodyear, AZ 85338

$655,000

4 Beds

3 Baths

2,500 SqFt

Status Active

MLS # 6767723

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This stunning resale of the Celeste floorplan by Richmond American features 4 bedrooms plus a study/den with 2,500 sqft of modern living space. Enjoy 10-foot ceilings and a gourmet kitchen equipped with extra cabinetry, a built-in oven, and an expansive island topped with luxurious marble. The home also includes a convenient butler's pantry and a Deluxe Primary Bathroom upgrade for added luxury. The low-maintenance synthetic grass landscaping enhances the modern look, while stylish vinyl wood-look flooring flows throughout. Located near the 303 & 101 freeways & Goodyear Square for shopping and dining. Why wait for a new build? This upgraded gem is move-in ready!

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1845 S Morrison Lane Gilbert, AZ 85295

$655,000

4 Beds

2 Baths

2,174 SqFt

Status Active Under Contract

MLS # 6757501

Property Type Single Family Residence

Price Type --

Completely remodeled 4 bedroom 2 bathroom home. Beautiful new white shaker kitchen with quartz island and custom wood island new backsplash custom tile showers in both bathrooms, nice open living room with optional kids/playroom, laundry room inside hallway right by master bedroom, custom master tile shower with bench and double vanities walk in closet and toilet room. Very nice custom rock water feature with grotto pebble tech pool and grill and bar area for family time epoxy garage new interior and exterior paint, roof recently replaced all roofing, trane ac, all new window blinds, custom new vinyl flooring and tile bathrooms nice driveway and grass front lawn with 2 car garage!! all new trim fixtures fans and much more!! check this one out as it wont last long!

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4924 W Boston Street Chandler, AZ 85226

$655,000

4 Beds

2 Baths

1,827 SqFt

Status Active

MLS # 6738908

Property Type Single Family Residence

Price Type --

Pride of ownership shows in this immaculate single-level home situated on a HUGE, 13,482 sf. lot. Located within the highly coveted Kyrene School District, this 4 bedroom, 2 bathroom open floor plan features a beautifully updated kitchen with quartz waterfall island, new white shaker cabinets, and spacious pantry. Additional improvements include newly replaced energy efficient windows, fresh white interior paint, and an updated primary bathroom. The generous backyard offers low-maintenance turf, jacuzzi, citrus trees, covered patio with insulation, and additional land to add the pool or pickleball court of your dreams. This central location keeps you close to major freeways, Intel, Downtown Chandler dining & entertainment, and premier shopping at Chandler Fashion Center.

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4730 S Emery -- Mesa, AZ 85212

Open House

$655,000

5 Beds

4 Baths

3,937 SqFt

Status Active

MLS # 6670989

Property Type Single Family Residence

Price Type --

*New List Price* This 5-bedroom 4 bath home that is priced to sell today. The main floor boasts both family and living rooms, an eat in kitchen with large island and walk in pantry. An oversized bedroom and a full bath are conveniently located on this main floor. There is a separate garage next to this room making a private entrance for the new homeowner. There is a large loft area upstairs which provides limitless possibilities. The over-sized primary suite is perfect for a stay-at-home vaca including a remodeled bathroom and sitting area. Don't miss the huge walk-in closet. The backyard is secluded and has mature trees that offer shade and lots of room to play or just relax.

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9961 S Centennial Road Apache Junction, AZ 85120

$654,990

5 Beds

3.5 Baths

3,027 SqFt

Status Active

MLS # 6750831

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 Prato floor plan is an elegant two-story home featuring five bedrooms, an upstairs loft, and a spacious flex area perfect for an office, TV room, or study. Complete with front yard landscaping, this home will be ready for occupancy by October or November. It is conveniently located near community parks, grocery stores, and restaurants.

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18956 W Ocotillo Road Waddell, AZ 85355

$654,990

4 Beds

3.5 Baths

2,561 SqFt

Status Active

MLS # 6739341

Property Type Single Family Residence

Price Type --

It's the very popular Cinnabar floor plan with 4 bedrooms + study, 3.5 baths and a 3 car tandem garage. Located in Windrose in Waddell. Multi slide door off the great room. Pavers at drive, walk and entry. 8' gate on garage side of home. Kitchen upgrades includes - stainless steel gas appliance package with 30'' cooktop and canopy hood. Sonoma Linen-off white cabinets with 42'' kitchen uppers. DT White Ice G238 granite countertop with enhanced kitchen island, undermount single bowl kitchen sink. Flooring includes 7x 24 plank tile in all areas of the home except beds/baths. 5'' baseboards throughout and 3 1/4'' door casings. Dual sink at bath 2, soft water loop, garage service door that leads out to the backyard and so much more.

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18938 W Ocotillo Road Waddell, AZ 85355

$654,990

4 Beds

2.5 Baths

2,561 SqFt

Status Active

MLS # 6739870

Property Type Single Family Residence

Price Type --

September completion -Cinnabar floor plan with 4 bedrooms + study, formal dining, 2.5 baths. This home is stunning with the multi slide door off the great room and leads out to the covered patio. Pavers at drive, walk and entry. Stainless steel gas appliance package with 30'' cooktop, wall oven, microwave and hood. Barnett maple Boulder-gray cabinets with 42 kitchen uppers. Pull out trash drawer with two bins. Stainless steel undermount single bowl sink. AZT Hana Sky quartz countertops in kitchen and owner's bath. Upgrade flooring includes DT Broxburn Gray 6x24 plank tile in all areas of the home except bedrooms and closets. 5'' baseboards and 3 1/4'' baseboards. Dual sinks at bath 2. 8' tall garage door with two controls, garage service door and so much more.

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7718 W Crabapple Drive Peoria, AZ 85383

$654,990

3 Beds

2 Baths

1,982 SqFt

Status Active

MLS # 6741362

Property Type Single Family Residence

Price Type --

MLS#6741362 December Completion! The Iris is a 1-story floor plan that comes standard with 1,982 sq. ft., 3 bedrooms, 2 bathrooms, 2-car garage, and a flex room. The only single-story floor plan at Aloravita South Discovery, this home is sure to please. The foyer brings you to a hallway with the secondary bedrooms and a full bathroom. As you continue through the home, you are taken to the open kitchen, casual dining, great room area and the flex room. Enjoy the beautiful Arizona weather from your private covered patio. The primary suite has a private bathroom with double sinks and an expansive walk-in closet and will be the perfect retreat.

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37510 W Nina Street Maricopa, AZ 85138

$654,990

4 Beds

3.5 Baths

3,240 SqFt

Status Active

MLS # 6762871

Property Type Single Family Residence

Price Type --

Don't miss your chance to own this amazing home! This Sedona plan home features a flexible activity room AND home office! Your expansive gourmet kitchen is designed with stacked cabinetry, buffet-style lowers, gas cook top, and double ovens! The bright great room with multi-slide glass door is ideal for gathering with family and friends. The Primary Suite is expertly designed with a resort like bath with freestanding soaking tub. Take out the toys from your THREE CAR GARAGE! Say hello to luxury, Maricopa and see why K. Hovnanian is the First Name in Lasting Value!! ^^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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2362 S Buttercup -- Mesa, AZ 85209

New

$654,900

2 Beds

2 Baths

2,128 SqFt

Status Active

MLS # 6779452

Property Type Single Family Residence

Price Type --

Absolutely wonderful golf course home in active 55+ community of Sunland Village East. 2 bedrooms plus den/office, 2 bathrooms, 2 car garage. Vaulted living/dining area, open kitchen family room. Quartz counters, newer upgraded cabinets, pull-out drawers, newer appliances, refrigerator conveys. Master bathroom has snail shower, new 36'' vanities, double sinks, walk-in shower. Guest bathroom updated as well. Tile flooring, marble window sills, plantation shutters, exterior security roller shields, front & back security doors. Screen patio as well as covered pergola sitting area. Additional electrical outlets in garage and patio, A/C 2018. Many more detailed upgrades, walking distance to proshop/restaurant. Don't miss out!

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4444 E Bethena Street Gilbert, AZ 85295

$654,900

4 Beds

3 Baths

2,420 SqFt

Status Active

MLS # 6751104

Property Type Single Family Residence

Price Type --

Welcome to this charming 2-story home in the popular community of Cooley Station. It features a lush, well-manicured front yard with an inviting front porch with flowers all around. Step into a spacious living room with lots of light. The kitchen is light and bright and includes white cabinetry, recessed lighting, granite counters, stainless appliances, wall ovens and center island with breakfast bar. There are expansive sliding doors and an adjacent dining area that look out onto the sunny courtyard. The travertine patio has been extended and the artificial turf is low maintenance and aesthetically vibrant. The spacious primary bedroom is on the main floor and has a view of the courtyard. The primary ensuite bathroom boasts a large tub, separate shower, dual vanities and walk in closet. Off the living area, and down the hall, there are two bedrooms and a full bathroom on the main floor. There are also two large closets in the hallway for added storage. The laundry room has upper and lower white cabinets and windows and is located off the kitchen across from the generous pantry. Up the stairway, you will find a huge loft area that can be used as an additional living space or as a separate living space for mother-in-law, teen, etc. There is an additional bedroom, closet, and full bathroom upstairs. The 2-car garage and 2 car driveway are in the back of the house and provide space for storage as well as two large vehicles. The location can't be beat with walking distance to the basketball courts, kids playground, bbq area and fields. The community pools, Fry's Marketplace, Crust, and multiple other eateries are a short bike ride away. Come see this fabulous neighborhood!

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