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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2440 W Kachina Trail Phoenix, AZ 85041

$649,999

4 Beds

2.5 Baths

3,587 SqFt

Status Active

MLS # 6773613

Property Type Single Family Residence

Price Type --

Welcome to your exquisite dream home, located in a desirable gated community at the base of South Mountain, with quick access to every corner of the Valley! This home has it all, boasting a large, open floorplan with lots of natural lighting, a spacious main level primary suite, a recently remodeled chef's kitchen, complete with high-end stainless appliances, and a sparkling pool, perfect for beating the summer heat. Formal living greets you at the entry, followed by office/den. Continue to your eat-in kitchen, where you'll find a 6-burner KitchenAid gas drop-in cooktop, an extended island with brand new quartz counters, and 42'' staggered cabinets for ample storage. Upstairs you'll find the massive loft, secondary bedrooms, and guest bath. Enjoy views of the city lights from the deck! Your oasis backyard includes built-in grill, mature fruit trees, low-maintenance turf, putting green, and your sparkling Pebble-tec playpool with a relaxing water feature and a solar-powered heater. North-facing backyard protects yard from harsh sun. Surrounded by single story homes, for privacy. Upgrades include: Two new Bosch variable speed HVAC units; Custom bar in living room; all new wood-look tile downstairs, and new, plush upgraded carpet throughout the rest of the home; 5 Anderson windows installed in 2024 and include lifetime warranty; new variable speed pool pump with WiFi connectivity; WiFi smart thermostats; water softener; RO in kitchen; wired surround sound and speakers throughout; Epoxy coating on garage floor; Toto washlets in two bathrooms. Original owners have shown true pride of ownership, making this home their dream come true, and now it's ready to be YOURS! Quiet, friendly neighborhood near local A-rated Laveen schools and all the new nearby shopping and dining.

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6285 E Broadway Avenue Apache Junction, AZ 85119

$649,999

3 Beds

2.5 Baths

2,186 SqFt

Status Active

MLS # 6772527

Property Type Single Family Residence

Price Type --

Want to spend your nights looking at the sunset & city lights and your days gazing at the Superstition Mountains? Well then this is your place! Updated 3 bedroom, 2.5 bath single-level home, sitting on 1.1 acres at the base of the Superstition Mountains. And if you're looking for your own workshop and garage space for your toys --you won't be disappointed! An oversized, 6-car detached garage awaits with mini-split, ducted Torit Industrial Dust Collecting System, Extra LED lighting, 7 X 240 outlets, 2 X 50 amp & RV plugs. TONS of storage! Then, step inside to relax and be delighted by the lovely interior showcasing a great room with soaring vaulted ceilings, a soothing palette, attractive wood-look flooring, & cozy two-way fireplace. The family room has double French doors that lead to the backyard for seamless indoor-outdoor living. Cook delicious meals in the kitchen, equipped with granite counters, knotty alder cabinetry, SS appliances, a walk-in pantry, and a peninsula with a breakfast bar for casual dining. You'll also find a versatile bonus room, perfect for an office or study. Huge covered patio in the back makes for great viewing. Make this yours today!

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1957 W Fawn Way San Tan Valley, AZ 85144

$649,999

4 Beds

3 Baths

2,252 SqFt

Status Active

MLS # 6763536

Property Type Single Family Residence

Price Type --

Welcome to your dream oasis at 1957 W Fawn Way. This beautifully maintained 4-bedroom, 3-bathroom home offers the perfect blend of comfort and style. As you step inside, you'll be greeted by a spacious open floor plan filled with natural light, ideal for both family gatherings and entertaining friends. The modern kitchen features stainless steel appliances, ample counter space, and a convenient breakfast bar. Retreat to the luxurious primary suite, complete with an en-suite bathroom and walk-in closet, while the additional three bedrooms provide plenty of space for family or guests. Outside, you'll find your very own private swimming pool, perfect for cooling off during hot summer days or hosting weekend barbecues. The beautifully landscaped yard offers a serene atmosphere and ample room for outdoor activities. Located in a friendly neighborhood with easy access to local amenities, parks, and schools, this home seamlessly combines convenience and tranquility. Don't miss your chance to make this slice of paradise your own!

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11865 N 143rd Avenue Surprise, AZ 85379

$649,999

5 Beds

3.5 Baths

3,886 SqFt

Status Active

MLS # 6770462

Property Type Single Family Residence

Price Type --

MAGNIFICENT 5 BED/3.5 BATH/4 CAR DRIVE-THROUGH GARAGE LOCATED IN A GATED COMMUNITY: COPPER CANYON RANCH. Furniture can convey. Includes an additional den/office and bonus room. Situated on an oversized lot this home is loaded with custom features. Gently lived in, tastefully decorated, looks and shows like a model home. Custom cherry kitchen cabinets. Granite counter tops,double ovens,butlers pantry. Huge open floor plan with real wood flooring, 20 inch tile and plush thick carpeting. Outdoors is an entertainers featuring a large grass area and beautiful pool with custom water features. Heated negative edge spa with soothing therapy jets. This home is a 10....don't wait !!

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26207 N 47th Place Phoenix, AZ 85050

$649,999

4 Beds

2.5 Baths

2,359 SqFt

Status Active

MLS # 6773215

Property Type Single Family Residence

Price Type --

Welcome home to gorgeous Tatum Highlands, located about 4 miles north of Desert Ridge Marketplace! Paradise Valley School District! This home has been maintained and cared for impeccably. Enjoy the views from the walk out balcony off the extra large primary bedroom. Beautiful bamboo wood and tile floors throughout! Laundry room is conveniently located upstairs on same level as the bedrooms! Beautiful double French Doors lead out to the backyard. No home behind you! This cul-de-sac home is ready to be YOUR HOME! A must see!

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182 W Rosemary Drive Chandler, AZ 85248

$649,999

4 Beds

2 Baths

2,139 SqFt

Status Active

MLS # 6778047

Property Type Single Family Residence

Price Type --

Discover your dream home in Hamilton Heights! This stunning single-level residence features a brand-new 16 SEER AC system (2023), a beautiful kitchen w/ white cabinets, granite countertops, a spacious walk-in pantry, & stainless steel appliances. The primary suite offers a walk-in shower & is thoughtfully separated from the 3 additional bedrooms. Enjoy the expansive great room equipped w/surround sound, and the private den adorned with elegant frosted glass French doors. The home boasts tile flooring throughout most of the space & low-maintenance landscaping, including mature trees, an extended paver patio, & hassle-free artificial turf. Perfectly located within walking distance to the neighborhood park, this home also features a garage w/impressive built-in cabinets.

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4247 E Cambridge Avenue Phoenix, AZ 85008

$649,999

3 Beds

2 Baths

1,692 SqFt

Status Active Under Contract

MLS # 6772289

Property Type Single Family Residence

Price Type --

Situated in the heart of Arcadia Lite, this 3 bedroom 2 bathroom home is minutes from some of Phoenix's best restaurants, shopping, and entertainment. Enjoy the vibrant local scene and quick access to major freeways, making commutes to downtown Phoenix or Scottsdale a breeze. The spacious living area features an open-concept design with an inviting layout that is perfect for both relaxing and entertaining. The modern kitchen boasts sleek granite countertops, a gas stove, and ample cabinetry. It's the ideal space for preparing meals and hosting gatherings with friends and family. Step outside to your private backyard with a covered patio, perfect for enjoying the Arizona sunshine. The spacious yard provides endless possibilities for gardening, entertaining, or creating your own outdoor retreat. Arcadia Lite is known for its tree-lined streets, charming homes, and vibrant community atmosphere. With easy access to local hotspots like LGO, Postino's, and other favorite Arcadia establishments, this neighborhood is perfect for those seeking a blend of suburban comfort and urban convenience. Buyers currently living in Maricopa or Pinal County ask about an ADDITIONAL $7,000 home buyer credit available via the Community Promise Program. Rate Relief Rebate Program: Benefit from a 2% seller credit to reduce your mortgage payments by Approximately $651/month in year 1 and $334/month in year 2. This exclusive offer makes homeownership more affordable now, while you await potential rate decreases.

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1628 E Magellan Drive New River, AZ 85087

$649,999

3 Beds

2 Baths

1,978 SqFt

Status Active

MLS # 6683844

Property Type Single Family Residence

Price Type --

Motivated Seller! Will look at all offers. LIKE NEW home. Voted BEST VALUE by Desert Hills New River tour agents! All the updated features. Large kithchen, with center counter. White cabinets and granite countertops. Open great room with lots of windows for the mountain views. 3 bedrooms 2 bath spllit floorplan. The garage is a large oversized 2 car with a space for your tools. Full one acre for your enjoyment. Shared newer well, 2 party. Plus a new rear yard fence to be sure your animals are safe. Central vac. You won't want to miss this well maintained home!

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5934 S Juniper Street Tempe, AZ 85283

$649,999

4 Beds

2 Baths

2,004 SqFt

Status Active

MLS # 6726731

Property Type Single Family Residence

Price Type --

A stunning single-family home located in the heart of Phoenix has 4-bed, 2-bath home has 2004 sqft, 2 car garage, sparkling pool & covered patio. Brand new Roof. You will be greeted by a bright & airy floor plan that's perfect for entertaining. The spacious living room features soaring ceilings, large windows that let in plenty of light, a cozy fireplace with beautifully decorative tile from floor to ceiling that's perfect for chilly nights. The kitchen comes with stainless steel appliances, quartz countertops & brand-new shaker cabinets. Brand new vinyl wood & carpet flooring throughout the home. Enjoy the fully upgraded, spa like bathrooms with high end shower system, framed mirrors, shower niche, & custom vanities. No HOA. Don't miss out!

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2771 E State Route 260 Highway Overgaard, AZ 85933

$649,999

4 Beds

2.5 Baths

3,208 SqFt

Status Active

MLS # 6752564

Property Type Single Family Residence

Price Type --

Here's your opportunity to own a piece of nostalgia with the storied Irish Castle. The exterior retains its original castle charm, continuing to captivate passersby with its unique appeal. Inside, you'll find a completely renovated space that masterfully blends modern comforts with the exterior historic character. This landmark offers a distinctive blend of old-world charm & contemporary interior living. This would make an outstanding bed & breakfast or airbnb with 4 bedrooms, 2.5 baths, huge kitchen and separate gathering spaces. All updates have been done within the last 2 years which include items such as mini splits in each room, new roof, new septic, flooring, painting, windows, spray insulation &so much more. List of updates/upgrades attached. Only 219 a square foot!

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7315 N 82nd Drive Glendale, AZ 85303

$649,999

5 Beds

3 Baths

2,629 SqFt

Status Active

MLS # 6761667

Property Type Single Family Residence

Price Type --

This spacious home is perfect for your family or as an investment property. Recently updated with a brand-new backyard, new irrigations system, wired ground lighting, beautiful grass lawn, new fencing to separate RV storage, from yard. Home has energy savings roll down security shades. Sparkling pool with a water fall feature, this property offers plenty of space and convenience. The HOA allows RVs, boats, and other toys, making it ideal for those with an adventurous spirit. Plus, the 3-car garage and HUGE RV gate offer over 80 feet of fenced storage for all your vehicles, trailers, and more. No credit qualifying options. See private remarks for more details.

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6732 W Coles Road Laveen, AZ 85339

$649,999

4 Beds

3.5 Baths

2,819 SqFt

Status Active

MLS # 6775041

Property Type Single Family Residence

Price Type --

WELCOME HOME!! This house is a MUST SEE, it's like a model! Not only does this home have a great location but the seller has spared no expense on upgrades! Gorgeous wood look tile, chefs kitchen, touchless faucet, glass rinser, amazing light fixtures and an 80'' 3 sided electric fireplace. Surround sound in living room and outdoor patio speakers, plus ample storage throughout. Masters retreat is on first level with an unbelievable master closet and a gorgeous office. Three more beds located upstairs, one a with a complete on-suite bath and walk-in closet, there is also a large loft, perfect for the family to spread out and have their own space. There are no homes behind your new house for complete privacy and has amazing mountain views from the second story. The backyard is a complete blank slate for you to make into your own oasis. Seller has two sets of pool plans

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