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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19700 N 76th Street Unit 2047 Scottsdale, AZ 85255

$650,000

3 Beds

2 Baths

1,729 SqFt

Status Active

MLS # 6751050

Property Type Apartment

Price Type --

Discover a rare opportunity to own a stunning residence in the highly sought-after gated community of Grayhawk Village. This exceptional 3-bedroom home offers breathtaking panoramic views of the McDowell Mountains, along with iconic Tom's Thumb, creating a serene backdrop for your daily life. Inside, the spacious floor plan includes an open kitchen that overlooks the family room and dining room. The generously sized primary and secondary bedrooms offer both comfort and convenience. Step outside onto the expansive outdoor terrace, where lush green grass and mature trees provide an oasis of privacy and tranquility. Whether you're sipping your morning coffee or entertaining guests, this space is your personal retreat. The community itself is rich with amenities, featuring tennis courts, heated pools, relaxing spas, a championship golf course, and Pickleball courtsideal for an active and vibrant lifestyle.This home is more than just a place to live; it's an invitation to experience the best of Scottsdale living in one of the most extraordinary locations Grayhawk Village has to offer.

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48040 N 15th Avenue New River, AZ 85087

$650,000

4 Beds

2 Baths

2,291 SqFt

Status Active

MLS # 6750671

Property Type Single Family Residence

Price Type --

PRIVATE WELL on over 2 plus acres on paved roads. Multiple gates and fenced property. This charming home has it all. Home sits back from road which offers privacy in all directions. Split floorplan, large open living area and cozy fireplace. Access to add fireplace to large primary bedroom. Beautiful new floors throughout. Storage galore. Enjoy the serenity on the extended front porch surrounded by the natural beauty of the desert. Design your guest house, workshop or hobby room in the detached 532 sq ft stone building. Detached 2 car garage. Horses, ATV, RV - you can have it all! Minutes to Outlets North Phoenix and I-17. Shopping and restaurants close while still living the rural lifestyle!

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3231 W Folgers Road Phoenix, AZ 85027

$650,000

3 Beds

2 Baths

2,313 SqFt

Status Active

MLS # 6769455

Property Type Single Family Residence

Price Type --

WELCOME HOME!! Beautiful 3-bedroom residence exuding charm! Sweet curb appeal, 2-car garage, and grassy front yard are just the beginning. Discover NEW HVAC (2021), vaulted ceilings, and NEW FLOORING (2021) throughout that give this home a bright, open, and airy feel. Welcoming living/dining room, cozy family room w/surround sound speakers, and roomy den to expand your options for an office or a fourth bedroom. The eat-in kitchen has SS appliances, a huge walk-in pantry, tile counters, white cabinetry, and a center island w/breakfast bar for casual meals. Retreat to the main bedroom to find a private exit to the patio and a lavish ensuite w/dual sinks, a Jacuzzi tub, and a walk-in closet. All bedrooms offer new window treatments (2024)! BACKYARD WAS COMPLETELY TRANSFORMED WITH GORGEOUS HEATED POOL AND HOT TUB INSTALLATION (2022), new plants, drip system, and pavers. Plus, the pool has afternoon shade, a transferable warranty, and removable security fencing. You won't be disappointed! Adobe Highlands is a vibrant, yet quiet place to live with PASEO HIGHLANDS PARK a short walk away, offering 6 pickleball courts, baseball fields, basketball courts, playground, and a community center. Don't forget the scenic hiking trails, water park, and great shopping, dining and medical facilities within minutes. EASY ACCESS TO THE LOOP 101, the I-17, and the upcoming TSMC chip manufacturing plant. Delight in the perfect blend of all this beloved home has to offer - don't miss the chance to make it yours today!

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1050 E Indigo Drive Chandler, AZ 85286

$650,000

6 Beds

3 Baths

2,634 SqFt

Status Active

MLS # 6770445

Property Type Single Family Residence

Price Type --

Welcome to your new home in Lantana Ranch! This stunning 6BR/3BA is situated on a spacious and beautiful lot, complete with an RV gate. Impeccably maintained, this home boasts tile flooring throughout the first floor which includes a Living room and a family room. The open concept kitchen featuring an abundance of cabinetry and a convenient pantry for all your storage needs. One of the bedrooms is conveniently located on the ground floor next to a full bathroom, making it an ideal guest suite. Head upstairs to discover 5 additional bedrooms, including a spacious Primary bedroom with 2 walk- in closets. The secondary bedrooms offer ample space. The property also includes a 2 car garage with exceptional storage options. Step outside to your vast backyard that is perfect for entertaining with additional storage solutions. Don't miss your chance to see this remarkable home!

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13399 W Tyler Trail Peoria, AZ 85383

$650,000

5 Beds

3 Baths

3,423 SqFt

Status Active

MLS # 6751314

Property Type Single Family Residence

Price Type --

Unbeatable 5 bedroom floorplan with extensive upgrades! This spacious home offers a formal living/dining, plus expansive greatroom layout at the back of the house, featuring gourmet kitchen with granite counters and staggered cabinetry, huge island with breakfast bar, dining room with bay window, and spacious living room. One bedroom and remodeled full bath downstairs, along with laundry. Enormous primary suite is upstairs along with 3rd full bath (also renovated), and 3 more bedrooms, each with walk in closets. Walnut finished plank flooring downstairs and plush carpet upstairs. Oversized premium lot with no rear neighbors. Extended back patio, grass area surrounded with curbing, rock accents, and mature plants/trees. Plenty of parking with 3 car garage and triple driveway.

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11000 N 77th Place Unit 2085 Scottsdale, AZ 85260

$650,000

2 Beds

2 Baths

1,571 SqFt

Status Active

MLS # 6752086

Property Type Townhouse

Price Type --

Experience modern living in the gated Sovanna Condominiums at Scottsdale Country Club! This charming unit offers 1651 sqft with 2 beds, 2 baths, & a 2-car garage. Home exudes elegance with plantation shutters, neutral paint, tons of natural light, and tasteful flooring - tile & plush carpet. You'll love the inviting great room that seamlessly blends the main areas, adorned w/gas fireplace! The impressive kitchen boasts granite counters, a pantry, track lighting, designer backsplash, ample wood cabinetry, and a 2-tier peninsula w/breakfast bar. The den provides versatility! Primary bedroom is a true retreat, featuring an ensuite with dual sinks, separate tub/shower, & a walk-in closet. Multiple sliding doors open to two cozy balconies, one of which overlooks the common area! Make it yours!

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16197 W Berkeley Road Goodyear, AZ 85395

$650,000

4 Beds

2.5 Baths

2,677 SqFt

Status Active

MLS # 6757161

Property Type Single Family Residence

Price Type --

New Listing Alert: The Unicorn of Goodyear! Welcome to 16197 W. Berkeley Road, a rare and remarkable find in one of Goodyear's most desirable locations! This home stands out from the rest—combining charm, beauty, and all the modern features you've been searching for. Prime Location: Situated in the heart of Goodyear, this home is just minutes from brand-new restaurants, shopping, and the highly anticipated Goodyear Civic Center. It's more than just a home—it's a gateway to a vibrant lifestyle! Inside the Home: -4 spacious bedrooms that provide plenty of room for everyone. -2.5 bathrooms, beautifully maintained and designed with functionality in mind. -Chef's kitchen with double ovens, granite countertops, and ample storage—a central hub perfect for entertaining, and enjoying time with loved ones. -The open-concept living space offers an inviting flow from the kitchen to the living areas, ideal for large gatherings or cozy family nights. -A versatile dining room that can easily transform into a home office or playroom to suit your personal needs. Backyard Retreat: Step outside and unwind in your private outdoor oasis: -Brand-new turf for low-maintenance landscaping. -A sparkling pool, perfect for cooling off on hot summer days. -Elegant travertine pavers, ideal for outdoor dining or lounging, creating a resort-style vibe in your own backyard. This home offers a rare combination of location, design, and outdoor living. Opportunities like this don't come along often. Don't miss out on this unicorn!

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13615 W Merrell Street Avondale, AZ 85392

$650,000

5 Beds

3 Baths

3,728 SqFt

Status Active

MLS # 6756481

Property Type Single Family Residence

Price Type --

Stunning 5 Bed, 3 Bath BASEMENT home in Fulton Estates with a $10,000 seller concession for buyer expenses. Beautiful ranch-style home with low-maintenance landscaping, a 3-car garage, and RV gate. Inside, a welcoming foyer leads to a bright, spacious living/dining area, warm tones, neutral tile in high-traffic zones, and plush carpet in others. The family room connects to the kitchen and opens to the backyard for seamless entertaining. The eat-in kitchen includes staggered cabinets with crown molding, SS appliances, solid surface counters, an island, and a walk-in pantry. Primary bedroom has outdoor access, a full ensuite with dual sinks, a makeup vanity, and a walk-in closet. Basement is approx. 1,100 sq ft with 2 beds, 1 bath, and a large recreation room. 2 new A/C units with warranty! In the basement, you'll find a large bonus room ideal for a game/entertainment center, a cinema, or a home gym. In addition, there are 2 beds & 1 bath downstairs, which is perfect for overnight guests. Enjoy relaxing in the backyard on the covered patio while sipping your favorite beverage. Desirable location, close to restaurants, markets, major roads, and easy access to the I-10. Hurry to see!

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4606 N 94th Drive Phoenix, AZ 85037

$650,000

5 Beds

3 Baths

4,008 SqFt

Status Active

MLS # 6761245

Property Type Single Family Residence

Price Type --

UPGRADE UPGRADE UPGRADE! Newley renovated house! This house has it all! With fully renovated all new... 3 bathrooms, kitchen, flooring, appliances, hot water heater, garage doors with an automated remote control opener, and new paint inside/outside, making the house beautiful and amazing! Located just 5 minutes away from the State Farm Stadium home of the Arizona Cardinals. Come check out this house today!

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23919 W Pinnacle Vista Lane Wittmann, AZ 85361

$650,000

4 Beds

3 Baths

2,484 SqFt

Status Active

MLS # 6757913

Property Type Single Family Residence

Price Type --

Discover your dream homestead on over 1 acre of land, stunning mountain views and just a short drive to Surprise for all your daily needs. This property is perfect for those seeking space and freedom, with no HOA restrictions. Fenced yard closest to the house, the back RV/carport comes equipped with water and 220 AMP electric service, ready for all your vehicles and projects. A car enthusiast's dream, the 5-car garage features extra-tall doors for over height vehicles, a 220 outlet, and climate control, making it comfortable year-round. Inside, the chef's kitchen boasts granite countertops, upgraded maple cabinets with accent lighting, a walk-in pantry, and ample counter space for all your culinary adventures. The spacious primary suite offers a double-door entry, a private exit to the back patio, a huge walk-in closet, and a luxurious bathroom with a spa tub and walk-in shower. Additional highlights include two secondary bedrooms with walk-in closets, and a fourth bedroom with a separate entrance to the front of the home. The open floor plan is designed for entertaining, with seamless flow to the large covered patio, perfect for enjoying the breathtaking views of the White Tank Mountain Range. Don't miss this rare opportunity to own a unique, spacious property in a peaceful setting!

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1643 W Harmont Drive Phoenix, AZ 85021

$650,000

3 Beds

2 Baths

1,896 SqFt

Status Active

MLS # 6761053

Property Type Single Family Residence

Price Type --

Welcome to 1643 W Harmont! Located in the highly coveted Sunnyslope School District, this move-in ready home with NO HOA has been well maintained and comes loaded with upgrades and improvements. These features include: 3 generously sized bedrooms and 2 newly updated bathrooms. The open kitchen was remodeled in 2015 and features under-mount cabinet lighting, track lighting, brand new appliances, gas range, a four-seat breakfast bar, and direct access to the backyard. Other updates include a new roof, replaced in 2020 with a 30-year warranty, new remote control fans, no carpet throughout, USB Outlets, new ceiling fans, a new water softener and cozy fireplace. This is also an energy-efficient home boasting a 16 SEER Trane Unit and ductwork (2015), new AC condenser (2024), new water heater (2024) added insulation (2019) and argon-filled, tinted vinyl windows. Finally, step outside to your south-facing backyard for a year-round urban oasis. Complete with a covered patio, a sparkling pool which was drained and acid washed in 2020 and boasting a new variable speed pool pump installed in 2023. Additionally, you'll find natural grass, a sizable shed and an RV gate for easy access. Plan your private tour of this stunning and well maintained Royal Oaks home, today!

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10523 E Simone Avenue Mesa, AZ 85212

$650,000

4 Beds

2.5 Baths

2,930 SqFt

Status Active

MLS # 6772714

Property Type Single Family Residence

Price Type --

*** EASTMARK BEAUTY!!!***...Don't miss this Stunning MOVE-IN READY...4 bed/2/5 bath home LOADED w/ UPGRADES!! Incredible OPEN FLOOR PLAN includes GORGEOUS KITCHEN w/ GRANITE COUNTER TOPS. CUSTOM CABINETS, STAINLESS STEEL APPLIANCES...including GAS RANGE, huge CENTER ISLAND & so much more! Ideal for a growing family, this home features plenty of room for everyone...INCLUDING AN UPSTAIRS LOFT perfect for a game room, entertainment center or den. Step outside through EXTENDED SLIDING GLASS DOORS to a LARGE back yard w/ PERGOLA COVERED AREA ideal for entertaing & family gatherings! Finishing touches include ENERGY-SAVING SOLAR PANELS, 3-car garage & cozy FRONT PORCH AREA. AWARD-WINNING EASTMARK AMENITIES & SCHOOLS along with restaurants, shopping & easy freeway access just MINUTES AWAY!!

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