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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18926 E Latigo Lane Rio Verde, AZ 85263

$650,000

3 Beds

3 Baths

2,813 SqFt

Status Active Under Contract

MLS # 6760895

Property Type Single Family Residence

Price Type --

THIS HOME IS PRICED TO SELL! Charming, one-of-a-kind home in the desirable Rio Verde community. Original owner home has three bedrooms ensuite, all oversized. Huge bright and sunny great room/library was a major addition. Custom designed and installed outdoor lighting. Large lot is walled in for privacy. Great entertaining back yard! Rio Verde is truly the place to retire to and live a fun life! This 55+ community boasts two parkland golf courses, clubhouse with two dining facilities, non-denominational community church, beautiful heated community pool and hot tub, rated tennis, pickleball, bocceball, horseshoes and a state of the art exercise facility. Golf memberships are available for Rio Verde Country Club. What are you waiting for??? The fun awaits you!

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1373 W Cindy Street Chandler, AZ 85224

$650,000

4 Beds

2.5 Baths

2,018 SqFt

Status Active Under Contract

MLS # 6775478

Property Type Single Family Residence

Price Type --

Welcome to your dream home—this completely upgraded oasis is designed for comfort, style, and elevated living. The open-concept layout flows effortlessly, perfect for both entertaining and relaxing. The kitchen, a chef's dream, features high-end appliances, custom cabinetry, and a view of the expansive backyard. The outdoor space is an entertainer's paradise with a sparkling pool, extended travertine decking, a putting green, and extended artificial turf for low-maintenance enjoyment. Unwind in the downstairs master suite, while upstairs offers three bedrooms and a versatile loft. The garage has been transformed into the ultimate man cave, ideal for hobbies or relaxation. This home offers the perfect blend of luxury, convenience, and a lifestyle built for creating lasting memories!

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2917 E Keim Drive Phoenix, AZ 85016

$650,000

2 Beds

2.5 Baths

1,488 SqFt

Status Active Under Contract

MLS # 6775883

Property Type Single Family Residence

Price Type --

Welcome to Keim Drive! This private bungalow on the Arizona Biltmore Golf Course offers unparalleled views of the 12th hole, stretching south toward downtown Phoenix. On the market for the first time in almost 30 years, the property has been beautifully restored and meticulously maintained by its current owners. The main level showcases a spacious great room with sweeping views of the green, a well-appointed chef's kitchen, and a convenient powder room. Upstairs, the oversized primary suite features a walk-in closet and an updated, resort-inspired bathroom. Natural light floods the second level from the skylight above the stairwell, creating a warm welcome to both the primary bedroom and the generously sized guest bedroom. Just beyond, you'll find a beautifully finished hall bathroom and an upstairs laundry room. Don't miss this rare opportunity to own a slice of paradise at the Arizona Biltmore!

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7479 E Pleasant Run Scottsdale, AZ 85258

$650,000

2 Beds

2 Baths

1,590 SqFt

Status Active Under Contract

MLS # 6775570

Property Type Townhouse

Price Type --

SPOTLESS HOME in the PERFECT LOCATION! Don't miss this McCORMICK RANCH ''lock and leave'' home! Located in the heart of SCOTTSDALE. Walking and/or biking distance to the community pool and spa, community tennis and pickleball courts, and beautiful views of lakes on the greenbelt. Restaurants, grocery stores, coffee shops, boutique shopping, a drug store, and gym all close enough to walk to or drive to in under 5 minutes. Minutes from Mountain View Park and Community Center. Talking Stick Resort and 101 Freeway are minutes away. Easy access to Sky Harbor Airport and downtown Phoenix. This home truly has it all, with an extensive list of recent updates and improvements that make it a standout! Move-in ready, the open kitchen is equipped with granite countertops, stainless steel appliances, a Bosch dishwasher (2018), pendant lighting, and an island with a corner lazy susan for extra storage. The living area features a stunning granite hearth fireplace with a custom wood mantle and tile floors throughout. In addition to its beautiful aesthetic, this home has undergone significant upgrades, including a new heat pump, air conditioner, air purifier, and surge protector. The electric water heater and water conditioner have been replaced for optimal efficiency, and the roof has been recoated for added protection. The kitchen shines with a new sink, disposal, faucet, and granite backsplash. The office area has been custom-designed with a granite-topped desk, offering a functional and stylish workspace. The master bedroom features luxurious new carpet, and the home's windows have been replaced to improve energy efficiency. Spray foam insulation on the roof, along with updates to ceilings, walls, and doors, ensure that the home is well-sealed and comfortable year-round. Step out onto the Saltillo-tiled patio, complete with a built-in BBQ, fireplace, and small refrigerator, and enjoy the heated community pool and spa just steps away. This home is not only beautifully updated but fully equipped with modern conveniencesready for you to move in and enjoy!

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1603 N El Dorado Court Chandler, AZ 85224

$650,000

4 Beds

2 Baths

2,029 SqFt

Status Active Under Contract

MLS # 6778551

Property Type Single Family Residence

Price Type --

Discover the endless possibilities with this beautifully upgraded Chandler gem, tucked away in a private cul-de-sac on a nearly 16,000 sq ft lot with no HOA. You'll find ample space to create the lifestyle of your dreams—imagine building a guest house, designing a gorgeous garden beyond the charming white picket fence in the backyard, and enjoying the ultimate outdoor oasis. This meticulously maintained home offers modern amenities and thoughtful touches, including OWNED solar panels, a freshly painted exterior, and energy-efficient upgrades. Step into a fully updated kitchen (2022) featuring elegant shaker cabinets, granite countertops, a stainless steel sink, and high-end LG and Samsung appliances. Cont... The entire house boasts wood-grain ceramic tile throughout and you'll love the cozy stack stone fireplace. Enjoy year-round comfort with a new 5-ton Lennox A/C unit, new ductwork (2024), and a recently installed insulated garage door with quiet rollers. Outside, a newly resurfaced Pebble Sheen pool (2023), custom RV gate, extended driveway, and full RV hookups make this home perfect for adventurers. The front yard's fresh landscaping, complete with artificial grass and paver steps, adds the perfect curb appeal. This move-in-ready home offers a rare blend of privacy, convenience, and potential in a highly desirable location. Check the documents tab for a complete list of the extensive upgrades. The possibilities here are truly endless!

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19834 W Rancho Drive Litchfield Park, AZ 85340

New

$650,000

4 Beds

3.5 Baths

2,605 SqFt

Status Active

MLS # 6780734

Property Type Single Family Residence

Price Type --

ASSUMABLE FHA LOAN AT 4.25%!! Discover luxury living in this turnkey home, thoughtfully designed for elegance and comfort with beautiful views of the White Tank Mountains. Skip the wait to build and dive into an entertainer's paradise, complete with a heated 10-person spa, sparkling pool framed by travertine and artificial turf, and a built-in natural gas BBQ grill, Blackstone cooktop, and sink. The spacious, open floor plan is well lit with additional LED ceiling lights throughout the home and features four bedrooms, three-and-a-half baths, office, and an inviting loft. The gourmet kitchen shines with stainless steel KitchenAid appliances, pristine 42'' white maple cabinetry, soft-close drawers, LED under-cabinet lighting, a tile backsplash surrounding picture windows, and an island with breakfast bar seating. You will love the main-level primary suite offering an elegant ensuite bath with dual sinks, upgraded cabinetry and drawers, an oversized walk-in shower, and a large walk-in closet. Upstairs, you'll find the loft, laundry room, bedrooms 2 and 3 with walk-in closets, and bedroom 4 with its own ensuite bathroom. This remarkable property is ready to welcome you home!

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18805 N 31st Drive Phoenix, AZ 85027

$650,000

4 Beds

2 Baths

2,077 SqFt

Status Active Under Contract

MLS # 6767826

Property Type Single Family Residence

Price Type --

Welcome home! This stunning 4-bed, 2-bath single story residence offers the perfect blend of style and functionality. Step into a beautifully remodeled interior, filled with natural light and elegant, airy finishes throughout. Situated on one of the largest lots in the community, this property is an entertainer's dream, featuring a sparkling diving pool, relaxing spa, custom putting green, and a spacious patio ideal for outdoor gatherings. With plenty of room for your RV, boat, ATVs, and more, the RV hookup, gate, and expansive backyard make this home perfect for all your outdoor storage needs. Recently updated with newer AC units and a completely remodeled kitchen and bathrooms. Plus, enjoy the freedom of NO HOA! Conveniently located just minutes away from shopping, dining, and so much more. This move-in ready gem is ready to welcome youBook your private tour today!

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3823 N 8th Street Phoenix, AZ 85014

$650,000

4 Beds

3 Baths

1,838 SqFt

Status Active

MLS # 6614730

Property Type Single Family Residence

Price Type --

Seller carry. Interest rate 3.75 Seller is requiring 10.5 percent down. This home is also ideal for the investor that caters to traveling nurses. Minutes away from Phoenix Children's Hospital. The main home has three bedrooms, two baths. With a very private studio apartment one bedroom with a kitchenette along with separate entrance. The property has been remodeled extensively new roof, new windows, fresh paint along with completely remodeled kitchen and bathroom. Flooring in the main house just completely redone with new Sub floor and vinyl plank flooring. Garage set up as a huge game room that can easily be converted back to a double car g Owner to give a credit or paint the themed rooms.

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16210 E Links Drive Fountain Hills, AZ 85268

$650,000

2 Beds

2 Baths

1,878 SqFt

Status Active

MLS # 6658826

Property Type Townhouse

Price Type --

Welcome to the prestigious private FireRock Country Club community. This perfect turn key unit with absolutely zero steps is located in the heart of the community. Brand new AC unit (2 months old), new hot water heater, and water softner along with new induction stove. Shades and blinds throughout this unit filled with natural light. Built in shelves in office along with recessed lighting throughout. Wood laminate flooring throughout and security door entry. Built in bar for entertaining your friends and family. Why live somewhere looking at a block wall? Live life with a view! This one will not last long.... its turn-key ready!

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5530 S 111th Street Mesa, AZ 85212

$650,000

4 Beds

3.5 Baths

2,715 SqFt

Status Active

MLS # 6685047

Property Type Single Family Residence

Price Type --

Welcome Home! Look no further, this beautiful property will check all your boxes! Oversized modern property situated on an large lot in Bella Via. Step inside this beautifully upgraded home and fall in love with its open spaces, including 4 bedrooms, 3.5 bathrooms, large living areas, dining room and a private study. Two master bedrooms( one downstairs and second at the upper level)perfectly designed for privacy. Large loft area, great for entertainment. Covered patio is perfect for outdoor dining and the built-in barbecue makes it easy to cook up a feast. Modern fireplace and movie projector are perfect for cozying up on relaxing nights.

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1581 E Del Rio Street Chandler, AZ 85225

$650,000

4 Beds

3 Baths

2,321 SqFt

Status Active

MLS # 6694922

Property Type Single Family Residence

Price Type --

Hidden gem nestled in a quiet neighborhood of Superstition Ranch. This gorgeous home features high flat ceiling which instantly makes this home feel more spacious and luxurious. Great layout with 4 bedrooms and 3 full baths, split floorplan with separated master suite . Skylight in formal dinning , spacious kitchen with wine cooler. Home has hard wood, carpet and tile flooring. Backyard oasis is perfect for cooling down in summer time by jumping into the pool or relax in the heated spa. New roof underlayment installed in January. Fresh painted interior and exterior. Home comes with Tesla charging station, makes life easier. Excellent schools BASIS and Legacy Traditional school (North Chandler) both just about 1 mile away. Don't miss this opportunity to own this great home!

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1108 W Colter Street Phoenix, AZ 85013

$650,000

4 Beds

3 Baths

1,894 SqFt

Status Active

MLS # 6707103

Property Type Single Family Residence

Price Type --

This stunning home in the heart of Phoenix is just a few minutes from uptown phoenix where you will find great restaurants and boutique shops! New Turf has been put in! The main house offers 3 spacious bedrooms and 2 bathrooms, while the backyard features a separate Casita with a studio area, kitchenette, and bathroom. Enjoy the covered patio, swimming pool, and ample space for entertainment. Inside, find wood-like tile flooring, vaulted ceilings, neutral paint, and abundant natural light. The kitchen boasts a breakfast bar island, tile backsplash, quartz countertops, contemporary fixtures, and plenty of storage. Perfect for short or long-term rental and ideal for first-time buyers. All furniture is included in the sale of this home.

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