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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3732 W Shannon Street Chandler, AZ 85226

$649,000

4 Beds

3 Baths

2,417 SqFt

Status Active

MLS # 6752210

Property Type Single Family Residence

Price Type --

Fabulous home in an even better location. Located in the Kyrene school district This wonderful home has 4 bedrooms and 3 baths And a 3 car Garage. All the extras your buyer is looking for, a bedroom and bath downstairs ideal for a guest room or office. The primary bedroom has a large sitting area with a fabulous view and no homes behind it. The Primary bath is updated with a soaking tub separate shower with 2 sinks.. The Kitchen has been updated with Copper backsplash, Quartzite counters, and stainless steel appliances. 3 car garage gives you room for all your toys and the side yard has an RV gate for the extra items. This home is in the fabulous award-winning Kyrene school district and Corona Del Sol High School boundaries. The seller has updated the home with high tech security sys

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2093 E Rawhide Street Gilbert, AZ 85296

$649,000

3 Beds

2 Baths

2,315 SqFt

Status Active

MLS # 6759290

Property Type Single Family Residence

Price Type --

Located in the heart of Gilbert, this stunning home boasts exceptional curb appeal and modern upgrades throughout. As you enter, you'll be greeted by vaulted ceilings, upgraded lighting, and a meticulously maintained interior. The modern kitchen features white cabinets with two-toned paint, quartz countertops, open shelving, and a spacious walk-in pantry with steel-reinforced shelving. It also includes a coffee bar area, single basin sink, and stainless steel appliances that are only two years old. The living room is a bright, cozy space with a wood-burning fireplace, pristine carpets, and plenty of natural light. The primary suite offers soaring ceilings, its own exit to the backyard, and a luxurious en-suite bathroom that has been recently remodeled and is complete with a floating vanity, under cabinets lighting, dual sinks, upgraded lighting and mirrors, and a super shower with dual rainfall showerheads. The additional bedrooms are spacious, and the den features a unique artistic archway leading to the front room. Outside, the backyard is a peaceful retreat with real grass, lush landscaping, and a pergola with paversperfect for relaxing or entertaining. This home also includes a new water softener, ceiling fans in the bedrooms, and an inviting outdoor space that truly completes the home. Perfectly blending modern style with comfort, this home offers an unbeatable lifestyle in a prime Gilbert location.

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3021 E Shangri La Road Phoenix, AZ 85028

$649,000

3 Beds

2 Baths

2,310 SqFt

Status Active

MLS # 6757744

Property Type Single Family Residence

Price Type --

This beautifully renovated home has been transformed from top to bottom, featuring an open floor plan with spacious rooms and modern upgrades throughout. Enjoy brand new luxury vinyl plank flooring, a completely remodeled kitchen, and fully renovated bathrooms. As you step inside, you're greeted by a warm, inviting atmosphere and an airy layout. The gourmet kitchen is perfect for cooking enthusiasts, designed to be the heart of the home. Situated on a large, private lot, this property is conveniently located just minutes from the 51 freeway, Paradise Valley, and Scottsdale.

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919 Panicum Drive Prescott, AZ 86305

$649,000

3 Beds

2 Baths

1,774 SqFt

Status Active

MLS # 6764679

Property Type Single Family Residence

Price Type --

Welcome to this charming 3-bedroom, 2-bathroom house located in desirable, Pinon Oaks of Prescott, AZ! The spacious interior 1774 SF features a split floor plan ensuring privacy, while the large great room seamlessly connects to the kitchen and dining area, creating an ideal space for entertaining guests or relaxing with family. You'll enjoy the primary bedroom with a remodeled ensuite bath, perfect for unwinding after a long day. Parking is a breeze, with 3 car garage and room could be made to park your RV. This property is a .42-acre level lot that backs to open space. No HOA but this community exudes a pride of ownership. Conveniently located near Willow Lake with walking trails, Fry's Food, and Embry Riddle Aeronautical University, making it easy to access shopping, recreation, and education. Don't miss the opportunity to make this lovely property your new home sweet home!

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795 E Reindeer Drive Munds Park, AZ 86017

$649,000

3 Beds

2 Baths

1,305 SqFt

Status Active

MLS # 6764913

Property Type Single Family Residence

Price Type --

Imagine your electric bill being 1.09. Yes, it's true. This home includes a 65,000-dollar Tesla solar electric power system! It powers the like new, 220-volt hot tub and the rest of the entire home! Beautiful year-round home on a quiet street in a desirable area of Munds Park, lots of mature trees, 2 car garage and a separate, new 1 car garage, wood/pellet burning stove, tongue and groove wood throughout, stainless appliances, new refrigerator, new trex front deck, covered deck in back with fenced yard, large shed and new landscape gravel, newer roof (2020) new exterior paint front (2024) updated laminate flooring, updated bathrooms, kitchen, doors, lighting, fixtures, walk-in pantry, newer electrical panel, circuits and furnace, new mini-split in loft, newly painted deck (9-2024) Vaulted ceilings, This home can park 7 cars total, no HOA! Come and be a part of our wonderful Munds Park community! You will be walking distance to the well-known Pinewood Country Club and very close to the national forest, lake, hiking/ biking trails, tennis and pickleball courts, park, restaurants, convenient store, and more. Munds Park is only 17 miles South of Flagstaff and a 2-hour drive from Phoenix to escape the heat. Come see your new home in our neck of the woods!

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445 W Grant Avenue Williams, AZ 86046

$649,000

3 Beds

2.5 Baths

2,332 SqFt

Status Active

MLS # 6770424

Property Type Single Family Residence

Price Type --

*Owner willing to carry!* Welcome to 445 W Grant Ave. One of the largest, custom homes you'll find this close to downtown Williams! Situated perfectly on a corner lot, the grand entrance ushers you in to 9ft ceilings, a grand, great room with an open kitchen and dining room. The kitchen features a gas range, an oversized island, and an abundance of custom cabinets. Step into the capacious Primary bedroom with an en-suite bath. Primary room features grand, walk-in closets and private access to the back patio. Attached bath include dual sinks, a soaking tub and a custom, oversized shower. The home also presents two additional large bedrooms, a full bath and a partial bath for all your guest needs. This house does not lack in space or storage! With multiple, oversized storage closets, abundance in cabinets and the two separate, attached, oversized garages gives you all the storage you could need. The backyard is poised perfectly for low maintenance with space to enjoy the cool mountain county. This home would make an excellent short term rental with close access to downtown Williams, or a second home for easy lock and leave!

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2125 W Highridge Road Wickenburg, AZ 85390

$649,000

3 Beds

2.5 Baths

3,141 SqFt

Status Active Under Contract

MLS # 6736978

Property Type Single Family Residence

Price Type --

Welcome to this delightful home that perfectly combines comfort and countryside living. Set on a spacious 2-acre lot, this property offers scenic views and a small horse setup, ideal for equestrian enthusiasts. Inside, you'll find an inviting family room, perfect for relaxing and spending quality time together. The formal living room and formal dining room provide dedicated spaces for entertaining and special occasions. The modern kitchen is well-equipped with all the essentials, making meal preparation a breeze. The bedrooms offer cozy retreats, with the primary suite featuring an en-suite for added privacy and convenience. A versatile bonus/game room adds extra living space, perfect for entertaining guests, family fun, or quiet relaxation. Step outside to enjoy the expansive views and the beauty of nature that surrounds this property. The small horse setup adds a touch of rustic charm and functionality, making this home a rare find. Experience the perfect blend of modern living and rural serenity in this wonderful home. Your dream of countryside living with all the comforts of today awaits.

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3514 W Riordan Ranch Road Phoenix, AZ 85083

$649,000

5 Beds

3 Baths

2,780 SqFt

Status Active Under Contract

MLS # 6734283

Property Type Single Family Residence

Price Type --

Stunning home in the Riordan Ranch community! Situated at the back of a cul-de-sac, this cozy 5 bedroom, 3 bathroom home has it all! One bedroom and full bathroom on the first floor for privacy. Four bedrooms and a loft upstairs makes for an easy use of space for all your comfort and entertaining needs! Enjoy the summer nights in the fabulous pool with water feature and oasis like, east facing backyard. Step out to the front of the home and take a look at the amazing preserve that allows for privacy in your neighborhood! Close to I-17 freeway, shopping and dining, Sandra Day O'Conner High School and many other great amenities makes this a home you will not want to miss!

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21297 Antelope Road Paulden, AZ 86334

$649,000

3 Beds

2 Baths

1,951 SqFt

Status Active Under Contract

MLS # 6739434

Property Type Single Family Residence

Price Type --

Check out the video! Stunning views with State Land Access and Privacy! Enjoy 5 acres with, orchard and a lovely home built in 2022! This custom home has ample space with 3 bedrooms, 2 full bathrooms, office, and open floor plan. The kitchen with farmhouse sink, quartz counter tops and exquisite finishes opens up to the huge family room. The large 17x17 main bedroom has dual sinks, granite countertops, garden tub and large walk-in closet. Enjoy the great outdoors with plenty of room to customize your own fenced in land, fruit trees, chicken coop and shed. Just 15 minutes from Chino Valley shopping and services, this special place is remote but easily accessible and just close enough. Buyer to verify all listing information. Voluntary Neighborhood Road Maintenance.

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8520 E Highland Avenue Scottsdale, AZ 85251

$649,000

4 Beds

2 Baths

1,876 SqFt

Status Active

MLS # 6775687

Property Type Single Family Residence

Price Type --

Great opportunity for investors or end users to remodel or build new in the heart of Scottsdale!Located on a highly desirable street within walking distance to Old Town where renovated homes are selling for over $2 million.Property features:4 bdrms,2 baths, great room layout w/ a stacked stone wood-burning fireplace.The kitchen has stainless steel appliances & new wood countertop on peninsula. 4th bdrm w/ a separate entrance is perfect for a home office.Large backyard w/ a blank canvas, plenty of room for a pool & new block wall replaced wood fence. Additional features include inside laundry & large storage shed.Close to downtown Scottsdale,101 freeway, & Scottsdale Community College, this family home is zoned for Saguaro High School & offers great potential!

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13600 N Fountain Hills Boulevard Unit 903 Fountain Hills, AZ 85268

Open House

$649,000

3 Beds

3 Baths

2,196 SqFt

Status Active

MLS # 6699821

Property Type Townhouse

Price Type --

Welcome to your dream home nestled in the gated community of La Strada, offering not just a residence, but a lifestyle. This meticulously crafted abode boasts 3 bedrooms and 3 bathrooms spread across a spacious 2196 square feet. Upon entering, you'll be greeted by breathtaking mountain views that serve as the backdrop to your everyday life. The home exudes elegance and modernity with remodeled bathrooms and kitchen featuring updated cabinets, luxurious Quartz countertops and no-fingerprint stainless steel appliances that elevate your culinary experience. The 2-car epoxy floor garage not only provides ample space for your vehicles but also offers convenient storage solutions. Inside, the living space is adorned with updated flooring and an inviting electric fireplace, perfect for cozy... evenings with loved ones. The primary suite is a sanctuary unto itself, boasting a huge rain glass shower and no-slip oversized tile, along with meticulous organized closets featuring built-in storage solutions. For the connoisseur, a built-in wine refrigerator awaits, while the custom coffee bar ensures your mornings are off to a delightful start. The kitchen features a sleek graphite sink, adding a touch of sophistication to your culinary endeavors. Entertaining is a breeze with a powder room showcasing a custom driftwood countertop and vessel sink. Additionally, the she-shed offers versatile space that can be transformed into an office, fitness area, or craft space, catering to our every need. Beyond the confines of your home, the gated community of La Strada offers resort-style amenities, including a pool. Centrally located, you're just a short walk or drive away from shopping, restaurants, and the famous fountain, allowing you to indulge in the vibrant lifestyle this community has to offer.

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15163 W Cameron Drive Surprise, AZ 85379

Open House

$649,000

5 Beds

3 Baths

3,684 SqFt

Status Active

MLS # 6775454

Property Type Single Family Residence

Price Type --

Welcome home! Recently renovated and turn-key! 5 spacious bedrooms, 3 bathrooms and a bonus loft + 3-car garage. New luxury vinyl flooring and tile floors throughout, formal living /dining room, kitchen with island, walk-in pantry, granite counters, stainless steel appliances, open to breakfast nook and family room overlooking covered patio, grassy backyard and pool w/ shark inlay. Upstairs to spacious loft for a 2nd family room! Primary suite w/sitting area, separate shower/tub and extra large closet and sleek renovated bathrooms. Added features include modern light fixtures and ceiling fans, surround sound, garage with attached cabinets and epoxy flooring. Enjoy community features of parks, greenbelts, playgrounds, sport court and sand volleyball court.

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