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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4226 E Everett Drive Phoenix, AZ 85032

$649,000

3 Beds

2 Baths

1,267 SqFt

Status Active

MLS # 6750491

Property Type Single Family Residence

Price Type --

Welcome to this tastefully remodeled and well cared for home in a desirable neighborhood. The flooring in the great room ties together the living room, dining area and a kitchen that features quartz counters and a brand new complete appliance package. Both the primary and hall bathrooms have been completely remodeled with upscale finishes. The 2-car garage has epoxy flooring, and the walls and attic rafters have been foam insulated for improved energy efficiency. The front yard is nicely landscaped and the walled-in backyard has a large natural grass area with plenty of room for the future addition of a swimming pool. The neighborhood is located less than 2.5-miles from the reimagined PV dining, entertainment, and retail experiences. Come discover your new home.

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22706 N 17th Street Phoenix, AZ 85024

$649,000

4 Beds

2.5 Baths

3,181 SqFt

Status Active

MLS # 6738561

Property Type Single Family Residence

Price Type --

Spacious 2-Story Home: 4 Bbds, 2.5 Bths, Office and Enormous Loft! This stunning home has space for everything you need! Step inside to discover a versatile office or flex space, perfect for a home office or playroom w/ beautiful laminate flooring. The open-concept kitchen and dining area create an inviting atmosphere for both everyday living and entertaining. The primary bedroom is conveniently situated on the main level, featuring laminate flooring, an en-suite with a shower and tub, and a huge walk-in closet. New carpeting throughout! Upstairs, you'll be amazed with The Giant Loft! Option to build a 5th bedroom. A sizable laundry room with shelving storage. Three Large Bedrooms, all with walk-in closets. Backyard has a view fence and no neighbors behind, giving you ultimate privacy! Living in the Eagle Bluff community means you have access to top-notch education just a short walk or bike ride away to the nearby schools. The location is unbeatable. Enjoy outdoor activities at the Reach 11 Park or the Cave Buttes Recreation Area. Shopping proximity to Desert Ridge and the Shops at Norterra. You're also moments away from major highways like Loop 101, the 51, and I-17, making commuting a breeze. Plus, Costco is just a few minutes south! Don't miss your chance to make this dream home your reality!

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7007 S Sipapu Court Gold Canyon, AZ 85118

$649,000

5 Beds

3 Baths

2,839 SqFt

Status Active

MLS # 6742466

Property Type Single Family Residence

Price Type --

Your patience has paid off! This is the one! This beautiful 2,839 sq/ft home is located in the coveted subdivision of Hermosa Hills in the prestigious Gold Canyon! Tucked away on a massive1/3 acre lot in a very quiet culdesac and backs to State Trust Land so no backyard neighbors! HOA only $54 A YEAR! Talk about pride of ownership...The current homeowners left no stone unturned! 2 brand new 55 gallon water heaters. Enjoy the 5 bedroom PLUS loft. Downstairs bedroom off the garage entrance. The primary bedroom has an outdoor patio that overlooks the mesmerizing and priceless views of the beautiful Superstition Mountains. Tranquility and Peace at its finest! Just minutes away from local shopping, entertainment, multiple award winning golf courses and so much more! This home is true gem!

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206 S Sunset Pass Payson, AZ 85541

$649,000

4 Beds

4 Baths

2,736 SqFt

Status Active

MLS # 6747764

Property Type Single Family Residence

Price Type --

Charming 4-Bedroom Home with Breathtaking Views of the Mogollon Rim & Granite Dells Welcome to your dream home in the prestigious Highlands at the Rim subdivision, ideally located just outside the gates of the Rim Golf Club. This stunning 2,736 sq. ft. residence offers 4 spacious bedrooms and 4 beautifully appointed bathrooms, providing ample space for family and guests. Step inside to discover an open floor plan with soaring ceilings and abundant natural light, highlighting the breathtaking views of the Mogollon Rim and Granite Dells. The main living area seamlessly flows into a well-equipped kitchen, perfect for entertaining or enjoying quiet family meals. A versatile loft area adds a unique touch, offering the perfect space for a home office, media room, or additional living space. The potential in-law quarters, featuring a private entrance, provide an ideal setup for multi-generational living or guests seeking privacy. Outdoor enthusiasts will appreciate the home's proximity to the Rim Golf Club, where world-class golf and outdoor adventures await. Whether you're enjoying the serene landscape from your deck or exploring the nearby trails, this home offers a lifestyle of tranquility and natural beauty. Don't miss this rare opportunity to own a piece of paradise with unmatched views and exceptional living spaces. Schedule your private tour today!

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7710 E Gainey Ranch Road Unit 133 Scottsdale, AZ 85258

$649,000

2 Beds

2 Baths

978 SqFt

Status Active

MLS # 6747694

Property Type Townhouse

Price Type --

Updated ground floor unit with fantastic patio and no steps! This 2-bedroom, 2-bathroom townhouse boasts an oversized patio perfect for entertaining or relaxation. Located on the first level with a garage, this home is situated in the serene community of The Courts at Gainey Ranch. Just steps away from the newly renovated Estate Club at Gainey Ranch, enjoy the lifestyle of tennis, pickleball, a workout facility, two heated pools and spas, and an events center. HOA includes almost everything!

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902 E Goldenrod Street Phoenix, AZ 85048

$649,000

3 Beds

2 Baths

1,927 SqFt

Status Active

MLS # 6748472

Property Type Single Family Residence

Price Type --

Don't miss your chance to own in this highly sought after community. This freshly polished gem is nestled at the base of South Mountain, offering resort-like views and a private backyard perfect for sunsets and stargazing. Recent upgrades include a refreshed pool, kitchen and bathroom updates and new flooring throughout. Located in the top-ranked Kyrene School District, this home is just steps from playgrounds and park concerts. This home checks all the boxes.

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20364 N 52nd Avenue Glendale, AZ 85308

$649,000

3 Beds

2 Baths

1,532 SqFt

Status Active

MLS # 6762638

Property Type Single Family Residence

Price Type --

Welcome to your dream retreat! This stunning single-level home features an inviting open concept design, highlighted by new paint, new light fixtures, new carpeting in the great room and elegant bamboo flooring in the bedrooms. The expansive 15-foot sliding glass doors effortlessly blend indoor and outdoor living, leading to a sparkling heated self-cleaning pool with breathtaking views of the tranquil lake and majestic mountains.Nestled in a serene cul-de-sac, this home offers direct trail access for outdoor enthusiasts and a brand new dock perfect for canoeing, kayaking, catch and release fishing and relaxing by the water. The spacious primary bedroom boasts a huge closet, providing ample storage, while the beautifully remodeled bathrooms feature luxurious finishes, including seamless glass showers and a jetted tub for ultimate relaxation. Additional highlights include exquisite marble flooring, plantation shutters throughout for added privacy, and a recently replaced HVAC system ensuring comfort year-round. With easy freeway access and proximity to Scottsdale and Westgate, this home truly embodies the perfect oasis for those seeking both convenience and tranquility. Don't miss your chance to make this remarkable property your own!

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11214 W Sunflower Place Avondale, AZ 85392

$649,000

4 Beds

2 Baths

2,382 SqFt

Status Active

MLS # 6763884

Property Type Single Family Residence

Price Type --

GARDEN LAKES! Do you want a house with some character on the lake? Enjoy the comforts of this single story, lake front home with low Maintenace landscape and private deck to dock the peddle boat along with outdoor furniture (INCLUDED) to enjoy the outdoor wildlife and or catch and release fishing. Large spacious rooms with vaulted ceilings with wood beams and lots of natural light and expansive lake views. New A/C unit 2yrs old, with a Nest Thermostat, Newer Roof 4yrs old, updated kitchen, updated main bedroom bath, and other custom features. New carpet to be installed or credit to buyer for flooring. Motivated Sellers so all respectable offers considered. Owners relocating so they are selling personal items also. (separate transaction) This is a must see!

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1251 E Parkview Drive Gilbert, AZ 85295

$649,000

4 Beds

2.5 Baths

2,237 SqFt

Status Active

MLS # 6765501

Property Type Single Family Residence

Price Type --

WOWZA! Newly remodeled, fantastic home in Spectrum has everything! Offering 4 beds, 2.5 baths, 3 garage spaces including tandem, & a manicured landscape. Inviting interior showcases tons of natural light, designer paint, & wood-look flooring t/out. W/a large living/dining room & an open-concept family room, you have spaces for relaxation & gathering. The impressive kitchen boasts SS appliances, granite counters, a pantry, ample cabinetry, track lighting, & a 2-tier peninsula w/breakfast bar. The master bedroom is downstairs! It features an ensuite w/two vanities, separate tub/shower, & a walk-in closet. Secondary bedrooms & a versatile loft await upstairs. Enjoy the spacious entertainer's PRIVATE backyard with a covered patio, built-in BBQ, synthetic & natural lawns, and a sparkling pool!

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8373 W Andrea Drive Peoria, AZ 85383

$649,000

4 Beds

3 Baths

2,682 SqFt

Status Active

MLS # 6767297

Property Type Single Family Residence

Price Type --

Explore this stunning 2-story gem in Peoria, complete with a spacious 3-car garage. You'll be captivated by its warm wood-look flooring, soaring ceilings, and the generously sized living room, perfect for relaxing. A formal dining area is ideal for memorable gatherings, while the chic kitchen boasts stainless steel appliances, granite counters, a pantry, white cabinetry, and a breakfast bar. The primary suite offers a tranquil retreat with a bay window, dual sinks, a soothing tub, and a walk-in closet. A huge bonus room provides flexibility as a media center or additional bedroom. Step outside to the lush backyard oasis featuring a covered patio, paver sitting area, built-in BBQ, gorgeous mountain views, and a sparkling pool. You'll want to see this beauty in person! Don't miss out!

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8520 E Highland Avenue Scottsdale, AZ 85251

$649,000

4 Beds

2 Baths

1,576 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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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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