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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32120 N 167th Avenue Surprise, AZ 85387

$645,000

4 Beds

2.5 Baths

2,433 SqFt

Status Active

MLS # 6754547

Property Type Single Family Residence

Price Type --

**TRANQUILITY IN THE DESERT** This home boasts 4 bedrooms, 2.5 baths and a split floorplan. A roomy master suite with a luxurious bathroom attached. Large walk-in shower with separate soaking bathtub. Features a spacious walk-in closet with walkout access to the back patio. The three additional bedrooms are generously sized, all with large walk-in closets. You will find an abundance of storage, with sizable linen and hall closets, a large laundry room, and a walk-in pantry. The kitchen, with its granite countertops, is perfect for entertaining, complete with a breakfast bar. A 2.5 car garage provides enough space for your vehicles. Big lot has plenty of room for storage of your toys or RV. Blank canvas out back is ready for your design! Enjoy HOA-free living with beautiful desert views!

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2124 E Osborn Road Phoenix, AZ 85016

$645,000

3 Beds

2 Baths

2,084 SqFt

Status Active

MLS # 6761427

Property Type Single Family Residence

Price Type --

Fantastic opportunity in the sought-after Loma Linda neighborhood! This 3-bed, 2-bath, 2,084 sq ft home offers a refreshing pool with a tranquil waterfall, perfect for relaxation or entertaining. A 2005 addition expanded the living space with a generous family room, an extra room with a private entrance ideal as a 4th bedroom or office, and an enlarged primary suite featuring a walk-in shower. The kitchen and bathrooms were beautifully remodeled in 2019 including cabinets with soft close doors & pull-out shelves. new windows installed in 2012, pool updated in 2023. North-south exposure, RV gate access, and no HOA make this a rare find! Don't miss out!

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26904 N 24th Lane Phoenix, AZ 85085

$645,000

4 Beds

2 Baths

2,304 SqFt

Status Active Under Contract

MLS # 6771682

Property Type Single Family Residence

Price Type --

Discover this beautifully updated 4 bedroom, Den, 2 bath home, and make it yours! The paved entry courtyard is private yet welcoming. From the entry, step inside to a spacious living area with vaulted ceiling, electric fireplace and custom media wall (2023). The living area flows into the eat-in kitchen which includes granite countertops, painted cabinets, new light fixtures, stainless steel appliances, a pantry, and an island with a breakfast bar. The main bedroom is roomy and bright and offers an ensuite bathroom with double sinks, tub/shower combo and a walk-in closet with built-in organizers (2024). In your backyard, enjoy the covered patio with new ceiling fans (2024), a lush backyard lawn, a sparkling pebbletec pool (2022), new exterior lights (2024) and a tool shed, (more) for added storage. Additional features include wood laminate flooring throughout, new interior paint (2024), hardwired security system, new exterior paint (2024), and a new A/C unit (2017). There is plenty of storage in the 3-car garage, a spacious RV gate featuring new slats on both the North and South side gates (2024) and additional RV parking (complete with pavers installed in 2023) on the North side. This home is filled with recent upgrades and offers a perfect blend of style and comfort. All of this while conveniently located close to the TSMC campus, shopping, schools, restaurants and 3 different freeways. Come and check it out!

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29273 N 129th Avenue Peoria, AZ 85383

$645,000

2 Beds

2 Baths

1,925 SqFt

Status Active

MLS # 6751375

Property Type Single Family Residence

Price Type --

This SOLAR Nice floorplan is situated on an Extremely PRIVATE homesite with GOLF COURSE & MOUNTAIN VIEWS! Enjoy STUNNING WOOD FLOORING throughout (tile in baths & laundry). The Chef's Kitchen is remarkable - features HIGH-END Cabinetry w/ a CUSTOM glaze that are staggered w/ LARGER CROWN, dramatic GRANITE SLAB & BUILT-IN SS GAS APPLIANCES w/DOUBLE OVENS!! Both Baths are HIGHLY UPGRADED w/ CUSTOM TILE, stone c-tops & FRAMED MIRRORS. Covered patio SPACE brings the outdoors inside w/ a GAS fireplace w/ STONE ACCENTS. Enjoy MOUNTAIN VIEWS from the extended paver patio-back yard is fully fenced!! Add'l upgrades: cabinet built-in at den, soft water, RO, bay window, PLANTATION SHUTTERS, high-end fans/lighting/hardware thru-out. Garage has tons of storage & EPOXY FLOORS, Garbage enclosure & & another storage area outside. SMART SPACE with a huge workspace and plenty of STORAGE - This home has it all!

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2809 E Hillery Drive Phoenix, AZ 85032

$645,000

3 Beds

2 Baths

2,015 SqFt

Status Active

MLS # 6738520

Property Type Single Family Residence

Price Type --

Location Location Location! This beautifully updated 3-bedroom, 2-bath home is perfect for those seeking modern comforts and a prime location on an almost 1/4 acre lot! Nestled in a great neighborhood at the base of Shadow Mountain, this property boasts several recent upgrades and desirable features to include: Freshly painted both inside and out, offering a clean and modern look; updated lighting fixtures throughout the home providing a bright and inviting atmosphere; new vanities in both bathrooms; a huge pantry provides ample storage space, making the Kitchen a dream for any home chef. Large sparkling diving pool in the private backyard. Huge pantry and updated lighting fixtures. New vanities. Enjoy your completely fenced, large sparkling diving pool in this beautiful backyard ensuring you can enjoy the outdoor space without all of the hassle! The home is ideally situated with a north/south facing orientation, maximizing energy efficiency and comfort. Don't miss the opportunity to own this move-in-ready home in a fantastic location - this one is special!

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18211 W College Drive Goodyear, AZ 85395

$645,000

4 Beds

3 Baths

2,343 SqFt

Status Active

MLS # 6763744

Property Type Single Family Residence

Price Type --

ASSUMABLE LOAN AT 2.99%! Welcome to your dream home in the prestigious Sedella community of Goodyear. This 2022-built residence offers 4 bedrooms & 3 bathrooms, designed with an open split floorplan with a dedicated teen room adding versatility to your lifestyle. Culinary enthusiasts will adore the kitchen, equipped with a gas cooktop, walk-in pantry, & a large island with a breakfast bar—ideal for gatherings or casual dining. Step outside to your private paradise, where a shimmering pool & artificial turf create a perfect backdrop for relaxation & entertainment. The 3-car garage & RV gate ensure ample space for vehicles & storage, while the proximity to 3 local parks offers endless recreational opportunities for the whole family. Don't miss out on this home or this rate!

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6826 E Monterey Way Scottsdale, AZ 85251

$645,000

3 Beds

2 Baths

1,980 SqFt

Status Active

MLS # 6733512

Property Type Single Family Residence

Price Type --

LOOKING FOR INVESTMENT PROPERTY! RENTAL or REMODEL! Looking for a 3 bedroom, 2 bathroom with a den located in South Scottsdale? Look no further! Charming single level home features a spacious open floor plan, new floors in the living room area, fresh interior paint, new light fixtures with plenty of natural light! Spacious bedrooms with ample closet space, den, dining area, over-sized laundry room and flex space for office. Enjoy the private and peaceful backyard. Covered patio with mature landscaping. A perfect gathering spot for friends and family. Close to Old Town shopping, ASU and Scottsdale Fashion Square.

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5934 S Juniper Street Tempe, AZ 85283

$644,999

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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6732 W Coles Road Laveen, AZ 85339

$644,999

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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9961 S Centennial Road Apache Junction, AZ 85120

$644,990

5 Beds

3.5 Baths

3,027 SqFt

Status Active

MLS # 6750831

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. The Prato floor plan is an elegant two-story home featuring five bedrooms, an upstairs loft, and a spacious flex area perfect for an office, TV room, or study. Complete with front yard landscaping, this home will be ready for occupancy by October or November. It is conveniently located near community parks, grocery stores, and restaurants.

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22675 E Happy Road Queen Creek, AZ 85142

$644,948

4 Beds

3 Baths

2,546 SqFt

Status Active

MLS # 6761632

Property Type Single Family Residence

Price Type --

Brand new home, under construction in Queen Creek. Move in anticipated for approximately Jan/Feb. Ranch exterior style. 4 bedroom, 3 bathroom, and 3 car side-by-side garage. Gourmet appliances include stainless gas cooktop, oven, microwave, and dishwasher. Upgraded 42'' white cabinets are complemented by white quartz designer countertops and a stunning tiled backsplash. Wood-look tile throughout the home and plush carpet in the bedrooms. Home warranty included! Enjoy an amenity-rich lifestyle with community fitness center, sparkling pool and jacuzzi, pickleball courts, basketball, shaded play structures, play lawns, 2 dog parks, and more. PREMIUM HOMESITE, this home has no neighbor directly behind and backs to a greenbelt. Please ask about our special financing incentives!

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28228 N 213th Drive Wittmann, AZ 85361

$644,900

4 Beds

2.5 Baths

2,142 SqFt

Status Active Under Contract

MLS # 6754209

Property Type Single Family Residence

Price Type --

GATED ENCLAVE. This home is the first home on the west side. Situated on a dead end,1.12 acre canvas of potential, this brand new home is a blank canvas waiting for your personal touches. With 2,142 square feet of living space, it is the perfect blend of comfort and sophistication. Need space for your toys? This home boasts an attached 55X13.6 foot RV garage, so your RV, LQ or toys will easily fit here. Upon entering, you will encounter high-end touches such as elegant quartz countertops, crown molding, 5'' baseboards, sleek tile wood-like floors, and modern fixtures throughout. Entertain in the open-concept living space where the gourmet kitchen is the heart of the home. Equipped with stainless steel appliances, ample counterspace, a separate walk in pantry, and a ton of storage space culinary delights are just waiting to be created. Your primary bedroom is split with an ample bathroom that includes dual sinks with quart countertops, a curbless shower and separate soaking tub, and large walk-in closet. Outside, let your imagination run wild. Whether you are dreaming of creating an oasis with a sparkling pool, shade trees and gardens or a mare motel and loping arena, it's right here waiting for you. For the energy conscious Buyer, the ceiling has foam insulation equivalent to R16 and it keeps the bugs and dust out. Concerned about the leach field location? This septic system has a vertical leach field so you don't have to worry about where the lines are when you are installing your dream pool or mare motel. And, this is synthetic stucco so you never need to paint it. There is a complete list of features under the document tab in the MLS that is available to the public. Hurry and make this home your own.

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