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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1548 W Milagro Avenue Mesa, AZ 85202

$645,000

4 Beds

2.5 Baths

2,485 SqFt

Status Active

MLS # 6779351

Property Type Single Family Residence

Price Type --

Welcome to Dobson Ranch! Milagro Ave tees up a 4-bedroom, 2.5-bath home with golf course view. The courtyard floorplan allows natural light and space for entertaining. Enjoy Dobson Ranch's multiple swimming pools, pickleball courts, tennis courts, basketball and other sport courts, recreation center, and community events throughout the year. Soak in the beautiful Arizona sunsets and fairway views from your own backyard.

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4446 W Hower Road Phoenix, AZ 85086

New

$645,000

6 Beds

3 Baths

2,821 SqFt

Status Active

MLS # 6788102

Property Type Single Family Residence

Price Type --

Gorgeous shabby chic farmhouse fabulous with six bedrooms and three full bathrooms! One bedroom with walk-in closet and bathroom downstairs for multi generational living. Relax in your private backyard oasis with a sparkling blue pool, covered patio, easy care synthetic grass, with an extended brick paver patio. Beautifully adorned with new wood like ceramic tile, six inch baseboards, decorative niches, and picture windows with natural light streaming through. Bright open center family hub kitchen features stainless appliances, quartz counters, an abundance of white cabinets, and pantry. The primary suite includes a sitting area, walk in closet & a relaxing spa like bath. Convenient to shopping and dining! Amazing Anthem amenities: 16 acre park, gym, lap pool, waterslides, pickleball... catch-release lake, tennis, baseball, basketball and so much more!

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18419 W Elwood Street Goodyear, AZ 85338

$645,000

5 Beds

3.5 Baths

3,660 SqFt

Status Active

MLS # 6736532

Property Type Single Family Residence

Price Type --

Like New Taylor Morrison Home w Custom Pool! Pride of Ownership! 5-Bedroom Smart Home with Resort-Style Backyard Oasis. This 5-bedroom, 3.5-bathroom residence offers the perfect blend of luxury, comfort, and modern convenience. With a spacious layout of 3660 Sq Ft and top-of-the-line features, this home is designed to cater to all your needs. Enjoy year-round swimming with a heated AND cooled Pebble Tec custom saltwater pool, complete with a cascading water feature for a resort-like feel. The home is the perfect setup if you work from home~ With cat 5 wiring throughout. Take a break during lunch and dip the refreshing pool! The roomy backyard that features an added extended patio for ample shade and a grassy astro turf play area for children or pets. Perfect for entertaining family and friends year-round This modern home offers Energy Efficiency with Solar panels that keep your home cool during the hot Arizona summers while greatly reducing energy costs. With Smart Home Technology that includes convenience to control solar panels, thermostat, pool, lights, oven, refrigerator, and security system with cameras with ease using integrated apps. A special feature includes a convenient central vacuum system on both levels. The gourmet style kitchen is upgraded with rich maple/alder cabinets with soft-close drawers, roll outs, light rail, crown molding, granite countertops, a large kitchen island, and stainless-steel appliances including a café French door refrigerator and gas stove for the chef in the family. Spacious living areas include a formal living room, formal dining and family room. A large upstairs loft, perfect for a children's play area, hobby space, work out area or office. The oversized master suite features French doors leading to a private patio with mountain views and beautiful Arizona sunsets. Relax in the master ensuite with a walk-in shower, soaking tub, dual sinks, private toilet room, and an expansive master closet. Additional features include paved cobblestone driveway and front porch, double RV gate, 4-car garage, complete R/O system, soft water system, upgraded maple/alder stair rails with dramatic entry, faux wood window treatments, utility sink & cabinets in the laundry room and additional half bath near family room. Community perks in Las Brisas include open grassy parks, ramadas, basketball courts, volleyball courts, and many play structures and grassy open areas. Conveniently located near schools including La Brisas Academy. I10 Freeway and Goodyear Ballpark plus eateries close by! Nearby Estrella Mountain Regional Park, with 20,000 acres of pristine desert, is nearby with mountains and a large wetland. Many amenities are available to visitors, including baseball fields, the only grass picnic area (65-acres) in the Maricopa County Park System, a golf course, fishing from the Gila River, and over 33 miles of trails for hiking, mountain biking, and horseback riding. Don't let this one slip by! Move in ready with all the bells & whistles included!

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8350 W Mary Ann Drive Peoria, AZ 85382

$645,000

5 Beds

3 Baths

2,634 SqFt

Status Active

MLS # 6773644

Property Type Single Family Residence

Price Type --

Gorgeous Fletcher Heights Fulton home* brand new roof 2024* brand new solar panels 2024- seller paid $35k for solar panels* sparkling pebble tech play pool* cozy mid west style front porch* 5 bedrooms and 3 bathrooms* 2634 sq ft* 2 car garage* beautiful remodeled white kitchen cabinets w? brushed nickel hardware* all stainless steel kitchen appliances* newer stainless steel Bosch dishwasher and refrigerator* freshly painted exterior pop outs* remodeled white linen and laundry cabinets* freshly painted white custom baseboards* new lighting fixtures and brushed nickel door handles* remodeled owners suite master bathroom w/ beautiful custom walk in shower* gas heat* gas fireplace in family room* full length cozy back patio* custom pavers in backyard, front yard and side yard* beautiful synthetic green grass front and back* open views on the full length walk out balcony right outside the master bedroom* just resurfaced pool deck* gas water heater* added insulation in attic* raised block backyard wall a couple of feet for added privacy* nice backyard golf putting green* spectacular backyard for entertaining & enjoyment* highly desirable Fletcher Heights community* top rated Peoria schools* close to A+ Rated Sunrise Mountain High School* close to shopping* restaurants* schools* golf* Arrowhead Mall* the 101 and much more* fantastic home!

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28210 N Crook Court Rio Verde, AZ 85263

$645,000

2 Beds

2 Baths

1,543 SqFt

Status Active

MLS # 6618358

Property Type Single Family Residence

Price Type --

This delightful Desert Retreat entices from arrival with the oversized cul-de-sac homesite. The thoughtfully designed one-level contemporary floor plan emits an abundance of glass that bathes the space in natural light while seamlessly blending indoor and outdoor living. The resort-like back yard is a private oasis, featuring a sleek linear pool, contemporary stacked stone water features and a harmonious mix of desert landscape, artificial turf and citrus trees. The heart-of-the-home is a designer kitchen combining style with functionality. A spacious island with bar seating invites both casual meals and lively gatherings, while the oversized walk-in pantry ensures ample storage space. The attention to detail is evident in every corner enhancing the overall aesthetic. The private primary suite is a sanctuary of comfort, boasting sitting space and a graciously proportioned spa-like bath with generous walk-in closet. The well-appointed guest bedroom and bath are thoughtfully separated from the primary suite, providing privacy and convenience for both residents and visitors. Beyond the allure of the home itself, the Trilogy Verde River Golf and Social Club adds another layer of luxury to the lifestyle. Enjoy breathtaking views of the adjacent Tonto National Forest with panoramic vistas of the Mazatzal Mountains and the iconic Four Peaks. Whether indulging in golf, tennis, pickleball, or unwinding at the spa and fitness center, this community offers a diverse range of amenities. Dining and events further enrich the social fabric, making every day an opportunity to experience the best in contemporary living. Welcome to a home where modern elegance meets Arizona's stunning natural beauty.

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4106 E Lavender Lane Phoenix, AZ 85044

$645,000

4 Beds

2.5 Baths

2,418 SqFt

Status Active

MLS # 6697243

Property Type Single Family Residence

Price Type --

Beautiful home with new master bathroom luxury vinyl flooring just installed . New inside paint 2024. 4 bedroom, 2.5 bath plus a den. 18 inch tile. Living and family rooms with a separate formal dining area. Kitchen with raised-panel cabinetry opens up to the family room and a brick fireplace. Large laundry room with cabinets and pantry. Vaulted ceilings, upgraded light fixtures and ceiling fans throughout. Large secondary bedrooms. Wired for security system. Garage has cabinets and work bench plus pull down attic stairs with fully floored attic for more storage. Huge cul-de-sac lot with synthetic turf, pavers, ramada sitting area, big covered patio and RV gate. Great Mountain Park Ranch location with parks and 3 community pools - one within walking distance!

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17227 W Middlebury Street Surprise, AZ 85388

$645,000

2 Beds

2.5 Baths

2,001 SqFt

Status Active

MLS # 6669966

Property Type Single Family Residence

Price Type --

Brand new home! The Potomac's inviting covered entry and foyer reveal a spacious office, expansive great room (with 20 ft MULTI-PANEL SLIDING STACKING DOOR) and casual dining area, and the desirable covered patio beyond. The well-designed kitchen is equipped with a large center island with waterfall edge, breakfast bar, plenty of counter and cabinet space, and huge walk-in pantry. The serene primary bedroom suite is highlighted by a sizable walk-in closet and spa-like primary bath with dual-sink vanity, large luxe glass-enclosed shower, linen storage, and private water closet. The sizable 2nd bedroom features an ample closet and private full bath. Or buy as a rental (the Sterling Grove Grove Golf & Country Club rental market is HOT right now). House is 100% virtually landscaped/staged.

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1384 E Morelos Street Chandler, AZ 85225

$645,000

3 Beds

3 Baths

2,143 SqFt

Status Active

MLS # 6771830

Property Type Single Family Residence

Price Type --

Gorgeous remodel and SELLER will pay $4,500 towards buyers closing costs with acceptable offer. Ideal for multi-generational family, This RARE floor plan with 3 bedrooms, PLUS DEN, and 3 full bathrooms. ''MOM in law/GEN X'' suite has its own living room! FLOOR PLAN plus LOCATION plus TURN KEY means show today! Exquisite remodel with designer kitchen, open floor plan, all new flooring, new granite counter tops, new stainless steel kitchen appliances, new dual pane windows, new neutral interior paint, and new 5 inch baseboards. New bathroom cabinet, counter top and fixtures in primary bedroom. New roof underlayment includes 3 year warranty, and updated irrigation system. Quiet private backyard oasis with single story neighbors will delight. Lovingly cared for for 23 years. Close to schools, 202 freeway and only minutes from the Chandler Fashion Center and easy to show. We welcome you to 1384 E. Morelos Street!

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13198 W Crestvale Drive Peoria, AZ 85383

$645,000

4 Beds

3 Baths

2,222 SqFt

Status Active

MLS # 6682953

Property Type Single Family Residence

Price Type --

HUGE PRICE REDUCTION! ATTACHED PRIVATE GUEST SUITE! This space could also be used as a tucked away kids space. With 4 beds, 3 baths, & a 2-car garage with storage, this gem offers comfort & convenience. A desirable open layout enhanced with tall ceilings, an accented wall, a trending palette, wood-plank tile flooring, & sliding glass doors, merging the indoor with the outdoor poolside living. The gourmet kitchen is a homemaker's dream, featuring granite counters, recessed fixtures, a walk-in pantry, ample wood cabinetry with crown molding, an island with a breakfast bar, & SS appliances, which includes a gas cooktop & a wall oven. Retreat to the carpeted main suite, highlighting a pristine private bathroom with dual sinks, a step-in glass shower, & a walk-in close The sizable guest's quarter provides a living room, a kitchenette, & a bathroom. Have fun in the large backyard, complete with a covered patio, artificial turf, pavers, an outdoor wooden swing, & a crystal blue pool. Move-in ready!

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931 N Senate Street Chandler, AZ 85225

$645,000

4 Beds

2 Baths

2,340 SqFt

Status Active

MLS # 6730503

Property Type Single Family Residence

Price Type --

BEAUTIFUL CHANDLER CUL-DE-SAC! Quiet neighborhood - close to parks and schools. This lovely 4-bedroom, 2-bathroom residence boasts a 3-car garage, huge lot, fenced pool, and lots of room to entertain. Enjoy the open and bright living areas with new upgraded back doors, plantation shutters, skylights and custom security iron work on front door and garage windows. Newer AC and roof ensure the big items are taken care of for you. The large primary bedroom includes a fabulous walk-in closet and separate exit to the backyard. The attached bathroom includes a soaking tub, separate shower, and private toilet. In the backyard you'll love the private fenced pool surrounded by gorgeous tile work, grass and fruit trees. Great space with plenty of room to entertain friends and family! Quiet neighborhood located close to food and shopping - what more could you ask for?

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5100 E Rancho Paloma Drive Unit 2059 Cave Creek, AZ 85331

$645,000

2 Beds

2 Baths

1,990 SqFt

Status Active

MLS # 6749719

Property Type Townhouse

Price Type --

VIEWS, VIEWS, VIEWS! Discover the best location for this end-unit condo in a beautiful newer and spacious gated community in Cave Creek. This residence offers generous square footage, featuring 2 bedrooms +an open den, and bright, open floor plan freshly painted & move-in ready! Meticulously maintained, home showcases modern contemporary design with neutral finishes, quartz countertops, 42'' cabinets, and a lg kitchen island. Refrigerator, washer, and dryer are included. The Primary Bedroom offers breathtaking views & includes an updated walk-in shower in the Primary Bathroom. This condo is Energy Star certified, equipped with Energy Star appliances, Low-E windows, & impressive energy efficiency rating from 2018. Spectacular views from the 14' sliding door that opens to large balcon

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16197 W Berkeley Road Goodyear, AZ 85395

$645,000

4 Beds

2.5 Baths

2,677 SqFt

Status Active

MLS # 6757161

Property Type Single Family Residence

Price Type --

New Listing Alert: The Unicorn of Goodyear! Welcome to 16197 W. Berkeley Road, a rare and remarkable find in one of Goodyear's most desirable locations! This home stands out from the rest—combining charm, beauty, and all the modern features you've been searching for. Prime Location: Situated in the heart of Goodyear, this home is just minutes from brand-new restaurants, shopping, and the highly anticipated Goodyear Civic Center. It's more than just a home—it's a gateway to a vibrant lifestyle! Inside the Home: -4 spacious bedrooms that provide plenty of room for everyone. -2.5 bathrooms, beautifully maintained and designed with functionality in mind. -Chef's kitchen with double ovens, granite countertops, and ample storage—a central hub perfect for entertaining, and enjoying time with loved ones. -The open-concept living space offers an inviting flow from the kitchen to the living areas, ideal for large gatherings or cozy family nights. -A versatile dining room that can easily transform into a home office or playroom to suit your personal needs. Backyard Retreat: Step outside and unwind in your private outdoor oasis: -Brand-new turf for low-maintenance landscaping. -A sparkling pool, perfect for cooling off on hot summer days. -Elegant travertine pavers, ideal for outdoor dining or lounging, creating a resort-style vibe in your own backyard. This home offers a rare combination of location, design, and outdoor living. Opportunities like this don't come along often. Don't miss out on this unicorn!

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