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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623 W Harvard Avenue Gilbert, AZ 85233

$649,900

4 Beds

2 Baths

2,152 SqFt

Status Active

MLS # 6773584

Property Type Single Family Residence

Price Type --

SOUGHT AFTER SILVERHAWKE ORIGINAL OWNER LOVED AND CARED FOR HOME! MANY UPDATED FEATURES INCLUDE FLOORING, GORGEOUS UPSCALE KITCHEN WITH NEW APPLIANCES, GRANITE BEVELED EDGE COUNTERS, PULL OUTS AND SOFT CLOSE DOORS/DRAWERS, ROOF HAS BEEN REPLACED WITH EXTENDED WARRANTY, HVAC UPDATED 2020, POOL RESURFACED!! NOTHING TO DO BUT PERSONALIZE, JUST MOVE IN! SO MANY EXTRAS THERE IS A LIST IN THE HOUSE WHEN YOU VISIT! SILVERHAWKE IS THE BEST NEIGHBORHOOD IN NORTHWEST GILBERT WITH FREEWAY ACCESS, DOWNTOWN GILBERT, RESTAURANTS SHOPPING ALL A VERY SHORT DISTANCE... GREENBELT & PLAY EQUIPMENT RIGHT DOWN THE STREET. OUTSIDE IS PARTY YARD WITH SELF CLEANING PEBBLE SHEEN POOL WITH NEWER FILTER, GAS GRILL, LIGHT UP BAR, CEILING FANS, MATURE CITRUS,!!! DID I MENTION THE EXTENDED LENGTH GARAGE? 3 CAR GARAGE HAS PULL DOWN STAIRS TO STORAGE, STORAGE CABINETS, CUSTOM RUBBERIZED GARAGE MATS, STORAGE CEILING RACKS, LOW MAINTENACE FRONT & REAR YARD LANDSCAPE, QUALITY BUILT POST TENSION SLAB, ... WARRANTIES TO BE PROVIDED SOON FOR ROOF AND HVAC, THIS IS A WONDERFUL HOME JUST WAITING FOR YOU IN A GREAT LOCATION

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5909 E Crocus Drive Scottsdale, AZ 85254

$649,900

3 Beds

2 Baths

1,416 SqFt

Status Active Under Contract

MLS # 6702362

Property Type Single Family Residence

Price Type --

Location location location in the MAGIC 85254 zip code. This single story popular Monterey model, block constructed Crane home is located within minutes of the Kierland corridor. Features include: light/bright ceramic tile, newer roof(2023), newer AC(2020), N/S facing, low maintenance landscape, stainless steel appliances, granite countertops, partially updated baths and lighting, oversized laundry, plenty of storage, private patios and no HOA. Opportunity is knocking...welcome home!

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20305 W Peak View Road Wittmann, AZ 85361

$649,900

3 Beds

2 Baths

3,310 SqFt

Status Active Under Contract

MLS # 6712163

Property Type Single Family Residence

Price Type --

HIGHLY MOTIVATED SELLER!!! This NEWLY EXTERIOR PAINTED home has 3 bedrooms and 2 baths plus multiple office spaces that can be used as a 4th bedroom or whatever your imagination can come up with. SO MANY UPGRADES !!! Floors, Counter tops, Paint...just to name a few. Did I mention it has just over an acre of land zoned for horses and a whopping 6 car garages, 4 are attached to the home while the other 2 are ina seperate building

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21462 E Waverly Court Queen Creek, AZ 85142

$649,900

4 Beds

3 Baths

2,803 SqFt

Status Active Under Contract

MLS # 6744316

Property Type Single Family Residence

Price Type --

This home sits on a great lot with no direct neighbors behind! You will love the beautiful plank tile flooring throughout the home. The kitchen features a rich shaker cabinetry w/brush nickel hardware, quartz counters, subway backsplash, stainless appliances and it looks into the spacious family room. Enjoy entertaining family and friends in the warm and inviting dining room! Master bedroom is spacious and features dual vanities, a coffee station area, large shower, and a great walk in closet! Great loft can be used as a second family room/media area or game room! Spacious secondary bedrooms! Awesome laundry room upstairs is a plus! Enjoy the backyard with the sparkling pool, sport court, lots of artificial grass for kids or pets to play and the covered patio! 3 Car Garage, Cul-de-sac lot with long driveway to park vehicles or play games. Awesome subdivision with greenbelts and playgrounds throughout. Excellent Schools and Shopping just a few minutes away.

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320 Buckingham Place Prescott, AZ 86303

$649,900

3 Beds

3 Baths

2,768 SqFt

Status Active

MLS # 6748189

Property Type Single Family Residence

Price Type --

City Light & Panoramic views of Thumb Butte, Granite Mountain & Courthouse Square. This is a fix up. Interior is a blank canvas (orig. 1984) ready for a complete gut and remodel to 2025. Priced below replacement cost at $235/SF. Exterior has a new roof, paint, Trex decking, new garage door and water heater. New slider added from eat in kitchen to northside. HVAC 3yrs new. Main floor (street level) has no steps and level driveway (master on main). Lower level has its own entrance with two bedrooms, full bath and flex space for office, gym, game room or study. Downstairs Ideal for multi-generational living or apartment as it has its own ingress-egress. New in box waterproof plank flooring ready for new owner. Adjoining west 0.36 acres can be bundled with sale for an extra $50k.

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1246 S Sunnyvale -- Mesa, AZ 85206

$649,900

4 Beds

2 Baths

2,783 SqFt

Status Active

MLS # 6743315

Property Type Single Family Residence

Price Type --

**PRICE IMPROVEMENT** Fall in love with this large 4BR home from the minute you step inside; the immaculate and inviting interior is sure to make you smile! It's easy to picture yourself enjoying this lovely home with its inviting, open floorplan featuring vaulted ceilings and large windows that draw in the natural light, lighted niches, generous secondary bedrooms with plantation shutters, a lovely master suite with a spacious bathroom featuring dual sinks, separate shower & tub, and large walk-in closet. This home is move-in ready with a new professionally painted interior, brand new contemporary ceiling fans and updated fixtures in the main living areas. Two large living areas invite you to entertain friends or enjoy time with your family. A beautiful, upgraded kitchen with granite counters, stainless appliances and recessed lighting, direct access to the covered patio via French doors, a large laundry room and a 3-car garage with Epoxy coated floors are just a few of the things that make this home special and livable. The low-maintenance landscaping will free up your time for fun with friends and family, and the home is within walking distance to elementary and junior high schools. DON'T MISS this rare opportunity to snag a gem in Mesa's coveted STONEGATE ESTATES!

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11910 E Amanda Road Gold Canyon, AZ 85118

Open House

$649,900

3 Beds

2 Baths

1,987 SqFt

Status Active

MLS # 6753721

Property Type Single Family Residence

Price Type --

A MUST SEE Home in Gold Canyon. Photos don't do justice to this charming 3 bedroom 2 bathroom newer home located in Gold Canyon. Enjoy your time on the front patio morning or night. Inside you will find the 2 additional bedrooms (one with murphy bed) to the right and office to the left. Continuing, the beautiful tile floor leads you into a spacious entertainers kitchen. Kitchen features stainless steel appliances, wall ovens, quartz counter tops, island and dark cabinets. Kitchen opens up to family room which has stunning views. Main bedroom is located off of the family room in the back of the house. Backyard features artificial turf, easy to maintain landscaping and a great space to host!

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249 E Grandview Street Mesa, AZ 85201

Open House

$649,900

4 Beds

2 Baths

2,559 SqFt

Status Active

MLS # 6756270

Property Type Single Family Residence

Price Type --

Rare opportunity to own a 4-bedroom, 2-bathroom home in the highly sought-after Hohokam Village neighborhood with no HOA! This inviting home features an open floor plan, perfect for entertaining, with a cozy fireplace in the great room. Recent updates include brand new flooring throughout, fresh interior paint, and upgraded bathrooms. Step outside to your private backyard oasis, complete with a sparkling pebble tec pool, a large covered patio, and lush landscaping. Additional recent improvements include roof and pool repairs, along with new hardware throughout. Don't miss out on this gem!

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2614 N 15th Street Phoenix, AZ 85006

Open House

$649,900

3 Beds

2.5 Baths

1,972 SqFt

Status Active

MLS # 6735434

Property Type Single Family Residence

Price Type --

This exceptional home offers quality and low-maintenance living in the heart of Coronado. Completely rebuilt in 2016, the home was taken down to the studs and updated with all-new electrical, plumbing, insulation, and premium finishes throughout. The thoughtfully designed floor plan includes an inviting library with raised ceilings and floor-to-ceiling bookshelves, a spacious primary suite with vaulted ceilings and a luxurious en suite bath, and a gourmet kitchen equipped with a breakfast bar, pantry, and high-end AGA range. Modern upgrades include dual HVAC systems with WiFi thermostats, energy-efficient dual-pane windows, hardwood flooring, a tankless water heater, and a robust whole-house water filtration system. Additional features include a dedicated laundry room, an upgraded garage with a 220V line for EV charging, hanging storage, and extra outlets. Enjoy entertaining on the wraparound porch amidst lush landscaping, including fruit-bearing trees and large shade trees, or retreat to the custom-designed great room with a hardwood bar and ample amenities. With paid-off solar panels, an average electric bill of only $120, and a prime location near parks, restaurants, and the Oak Street Alley Murals, this home offers the perfect blend of charm, convenience, and efficiency. Don't miss out on this standout property, recently featured in the 2024 Coronado Home Tour!

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16435 W Cypress Street Goodyear, AZ 85395

Open House

$649,800

2 Beds

2.5 Baths

2,732 SqFt

Status Active

MLS # 6736265

Property Type Single Family Residence

Price Type --

2 car garage + SEP GOLF CART Garage Enjoy exceptional lifestyle in the highly sought-after Robson Community at PebbleCreek, a vibrant active 55+ community! Looking for larger home with options for 2 BONUS ROOMS... This Cabrillo Model on spacious corner lot, featuring an open concept kitchen great for entertaining, with a 6-burner Monogram gas stove & wall oven, granite countertops. Upgraded Solid Oak cabinets with glass fronts. Two luxurious owner suites, a versatile flex-room, and an oversized laundry space perfect for hobbies or crafts. Bonus room great for an in-home office. The owner's suite offers dual-sink vanity, oversized soaker tub, and 2 spacious walk-in closet. Modern amenities include hardwired for surround sound and security cameras. Pre-wired for 220 in garage HOA age restriction uses 80/20 rule of 80% age 55 or over and 20% can be 40 and over. Buyer to verify. Extended covered patio, ceiling fans, a gas stub for BBQs, and a low-maintenance backyard, perfect for outdoor entertaining. Soft Water loop installed. Wok reversable burner plates! Living in Robson Community at PebbleCreek means enjoying world-class amenities. Golf memberships available for 3 championship courses, play a match of pickleball or tennis, or take a dip in the community pool. Engage in nearly 100 different clubs and activities that cater to a variety of interests, ensuring an active and fulfilling lifestyle. Recent upgrades include fresh interior and exterior paint and added attic insulation for enhanced comfort. Embrace the exceptional living experience that awaits you in Pebblecreek. Don't wait to start enjoying the best of active adult living!

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1936 Elk Road Heber, AZ 85928

$649,777

3 Beds

3 Baths

2,004 SqFt

Status Active Under Contract

MLS # 6690125

Property Type Single Family Residence

Price Type --

This custom log sided chalet on 1.75 acres is sure to please! Like new condition and secluded feel describes this 3BR, 3BA cabin. Tons of features with split floor plan, master BR downstairs and huge loft upstairs (currently used as the 3rd BR). Soaring vaulted T&G ceiling, lodgepole railing and knotty oak cabinets give that rustic feel. Custom window treatments, gas fireplace and new gas furnace with A/C. Oversized 2 car garage, tons of Trex deck and equipped to run off grid with shared well, solar and propane generator for well backup!

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22560 E Saddle Way Queen Creek, AZ 85142

$649,767

4 Beds

2.5 Baths

3,267 SqFt

Status Active

MLS # 6699276

Property Type Single Family Residence

Price Type --

Includes An Extended Covered Patio, Den With Modern Glass Doors, Upgraded Front Door, Aristokraft Benton Paint Colada Cabinets With Upgraded Hardware, Gourmet Kitchen Appliances With Wall Oven & Microwave And 30'' Gas Cooktop, Stainless Steel Hood And GE Counter Depth French Door Refrigerator. Della Terra Quartz Kitchen Counters In Bianco Pearl, Custom Tile Backsplash At Kitchen And Upgraded Blanco Super Single Bowl Sink. Frameless Walk-In-Shower At Primary Bath With Custom Tile Surrounds, Door From Primary Closet To Laundry Room, Pendant Prewires Over Kitchen Island, Upgraded Flooring Including 12x24'' Avery White Tile At Upstairs Baths And Laundry As well as Polaris Lighthouse Luxury Vinyl Plank Downstairs, And Upgraded Carpet. Pavered Driveway, Walkway And Porch.

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