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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25931 N 23rd Avenue Phoenix, AZ 85085

$629,990

3 Beds

2.5 Baths

1,976 SqFt

Status Active

MLS # 6758025

Property Type Single Family Residence

Price Type --

Welcome to the Peralta plan, offering 1,992 square feet of elegant living space with a charming Farmhouse exterior. As you step onto the pavers at the covered entry and into the home, the paint grade mission stair rail adds a touch of traditional craftsmanship while the 8' interior doors adorned with matte black door hardware. This home's kitchen and great room open up to a spacious outdoor space with a gas stub for BBQ, ensuring the possibilities of effortless outdoor entertaining. The heart of the home, the kitchen, features stainless steel GE appliances including an under-cabinet hood, a built-in gas cooktop with five burners, and a built-in wall oven and microwave with trim kit. The kitchen features white painted shaker cabinets featuring 42'' uppers and 3'' crown at the perimeter. The kitchen countertops are adorned with Della Terra slate grey quartz which are complimented by the Dal Tile - Brickworks 2x8 backsplash. A large single basin stainless steel sink with a Moen Spring kitchen faucet completes this chef's dream kitchen. All bathrooms and the kitchen feature two-tone black and champagne bronze cabinet pulls. Moen Gibson 8 widespread matte black premium finish faucets offer a beautiful contrast to the white cultured marble countertops with rectangular sinks. Throughout the downstairs and in bath 2 and the laundry upstairs, you'll find durable Dal Tile Hill House Natural 6x36 wood look tile, while the primary bathroom boasts AZ Tile Reside Matte Beige 12X24 tile. The primary bath also features an enlarged primary bath shower, perfect for unwinding after a long day. Moving upstairs, Shaw Kennfield carpet in the shade Ecru providing comfort and warmth. All flooring is elegantly trimmed with upgraded 4 ¼ baseboards. This home is complemented by a soft water loop located in the garage for added convenience. Union Park offers Tree-lined streets, pedestrian-friendly sidewalks and a 5,500 sf recreation center with resort style pool an kiddie pool, shaded ramadas, parks, gathering areas, pickleball courts and basketball. Close to I-10, 101 and 303. Walking distance to restaurants, movies, entertainment and shopping. Don't miss your opportunity to own this beautifully designed new construction home where luxury meets functionality.

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23043 E Lords Way Queen Creek, AZ 85142

$629,990

4 Beds

2.5 Baths

2,568 SqFt

Status Active

MLS # 6757137

Property Type Single Family Residence

Price Type --

Brand new phase!. Our beautiful Juniper plan is conveniently located to all that Queen Creek has to offer. Minutes from the brand new Costco, Schnepf Farms, Queen Creek Market Place and the Queen Creek Olive Mill.

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7444 W Quail Track Drive Peoria, AZ 85383

Open House

$629,900

3 Beds

2.5 Baths

1,989 SqFt

Status Active

MLS # 6755375

Property Type Single Family Residence

Price Type --

Ahh the smell of new-October completion! Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Amherst' floorplan features 3 full bedrooms, 2.5 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes White Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 8' doors, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Photos of similar spec home to show layout, options may vary**

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16111 E Kingstree Boulevard Unit 3 Fountain Hills, AZ 85268

$629,900

3 Beds

2 Baths

2,139 SqFt

Status Active

MLS # 6761289

Property Type Single Family Residence

Price Type --

Discover a rare fully-renovated gem in the heart of Fountain Hills! This stunning single-level, end-unit patio home is part of an exclusive enclave with only six units, offering a serene and private living experience. With breathtaking mountain views, this 3-bedroom, 2-bathroom property combines luxury with tranquility. Enter through a private courtyard into an expansive great room featuring a cozy fireplace, perfect for relaxing evenings. The formal dining room seamlessly flows to both the back and side patios through elegant sliding doors, ideal for indoor-outdoor living. The split floor plan provides privacy for the spacious master suite, which boasts a spa-like bath with a double-sink vanity, separate tub and shower, a large walk-in closet, and direct access to your private enclosed backyard oasis. Enjoy the community amenities, including a relaxing hot tub and pool, surrounded by the natural beauty of Fountain Hills. This vibrant community offers something for everyone, from the iconic Fountain and the winter concert series in the park to scenic walking trails, a farmers market, and dining options that will delight your family and guests. Experience the perfect blend of luxury and lifestyle in this meticulously remodeled home. Don't miss out on this rare opportunity!

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27476 N 125th Drive Peoria, AZ 85383

$629,900

2 Beds

2 Baths

1,885 SqFt

Status Active

MLS # 6765803

Property Type Single Family Residence

Price Type --

Gorgeous 2-bedroom, 2-bathroom home located in Trilogy at Vistancia, Peoria's premier 55+ community. Situated on a professionally desert-landscaped 14,205 sq ft corner lot, the home has been meticulously maintained and highly upgraded. Upon entry, you'll be welcomed into an open kitchen and great room featuring freshly painted cabinets, custom epoxy countertops, an oversized island, a pantry, a stainless-steel appliance package, and a wine fridge. The family and dining rooms showcase modern light fixtures, a fireplace, built-in surround sound, and large windows that provide plenty of natural light. The split floor plan includes an oversized den, perfect for a home office or man cave, and the primary suite, complete with a spacious walk-in closet, dual sinks, a walk-in tile shower... ...and a private toilet closet. Additional features and upgrades include a private patio with a water feature, interior laundry, a heated and cooled garage with LED lighting and custom storage shelves, a tankless water heater, and a 3-zone wireless Honeywell HVAC control system. Reach out for the full list of upgrades. This home has so much more to offerdon't miss your opportunity to own this gem! Get your private tour today and experience it for yourself.

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5312 W Saint John Road Glendale, AZ 85308

$629,900

3 Beds

2 Baths

2,122 SqFt

Status Active

MLS # 6763486

Property Type Single Family Residence

Price Type --

Experience luxury living in this beautifully remodeled home located in the Touchstone community. This stunning property features white shaker cabinetry and quartz countertops throughout. Enjoy the elegance of Luxury Plank laminate tile flooring paired with oversized baseboards & fresh interior paint. Updated lighting fixtures illuminate the entire home. The open floor plan showcases 10-foot ceilings, a formal living and dining room, and an eat-in kitchen, perfect for entertaining. Both bathrooms have been recently remodeled, with the master bath boasting a barn door for added privacy and a real marble tile surround. The versatile office/den can easily be converted into a fourth bedroom. Step outside to the fantastic backyard oasis, featuring a beautiful pool. This turnkey home won't last!

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6646 S La Rosa Drive Tempe, AZ 85283

$629,900

4 Beds

2 Baths

1,980 SqFt

Status Active

MLS # 6766132

Property Type Single Family Residence

Price Type --

Come and see this beautiful 4 Bed, 2 Bath, 2 Car Garage, golf course lot home in Tempe. No HOA!! This freshly remodeled home is stunning! As you pull up the new tiered landscaping and fresh paint give the home great curb appeal. Through the front door you are welcomed by an open floor plan featuring brand new wood look flooring in the main living areas and plush patterned carpet in the bedrooms. Your brand new kitchen boasts white shaker cabinets, large island with breakfast bar, custom tile backsplash, new stainless appliances and gorgeous white quartz countertops. The split floor plan has the master suite to the right off of the main living area and it features a new tiled shower, new vanity with quartz top and large walk in closet. The 3 other bedrooms and second bath are on the opposite side of the home. Hall bath also is brand new with a white subway tile wall and new vanity. New door hardware, ceiling fans, light and plumbing fixtures throughout the home give it a modern feel. New window coverings. Oversized laundry room with lots of storage. Out back there is a large patio perfect for outdoor dining with golf course and sunset views of South Mountain. Don't miss out on this gem. Come and see it today!

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29757 N 133rd Avenue Peoria, AZ 85383

$629,900

2 Beds

2 Baths

1,752 SqFt

Status Active

MLS # 6768766

Property Type Single Family Residence

Price Type --

Welcome to this BEAUTIFUL UPGRADED Vibrant Model in Trilogy at Vistancia. CHEFS GOURMET Kitchen Features GRANITE Counter tops, DESIGNER Back Splash, SS Appliances, Gas Cooktop with Separate Wall Oven. STAGGERED Cabinets with Roll Outs, Under Cabinet Lighting, Island. Whole House RAIN SOFT Water Filtration System. Surround Sound, Upgraded DESIGNER Lighting Throughout, Wood Plank Tile Floors with Upgraded Carpet & Pad in Bedrooms. Smart Room Features Cabinets Galore with Sink & Desk. Relax in the Den with Built In Cabinets & Wine Frig. Plantation shutters, Ceiling Fans, & Stone Fireplace in Great Room, 4 Panel Slider to Fabulous PRIVATE Back Yard Featuring, SYNTHETIC GRASS, PERGOLA, FIRE PIT, B/I GAS BARBECUE, PUTTING GREEN, LUXURIOUS THERAPEUTIC HOT TUB & AUTOMATIC SUNSHADES. Designer Front Screen Door. Neutral pallet throughout & close to cul de sac for quiet area. Epoxy garage flooring for easy clean ups. Perfect Home to Entertain and Enjoy the AZ Trilogy Lifestyle.

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3907 E Delta Avenue Mesa, AZ 85206

$629,900

6 Beds

3 Baths

2,753 SqFt

Status Active

MLS # 6773433

Property Type Single Family Residence

Price Type --

BEAUTIFULLY REMODELED! This charming, split-level type home offers everything you need. Providing 6 beds, 3 baths, RV gate, desert landscape, & a 2-car garage w/extended driveway. The highly updated interior boasts clean lines that promote a modern feel! Fresh neutral palette, tons of natural light, ceiling fans, dual-pane windows, recessed lighting, & high-quality laminate floors throughout. Upstairs or main level, you'll find a semi-open layout showcasing a large living area with vaulted ceilings that add to the airy feel. The renewed kitchen boasts SS appliances, quartz counters, espresso cabinetry, a pantry, and a peninsula w/breakfast bar. The primary bedroom has two closets w/mirror doors and a private bathroom for added comfort. The two secondary bedrooms are completing this level. On the downstairs or lower level, you'll find a spacious family room! There are also 3 additional bedrooms, one of which is large enough to serve as a second primary suite. Enjoy the charming balcony off the dining area! If entertaining is on your mind, the backyard awaits you! With its covered patio, so much room for gatherings, and a fenced sparkling pool, this space promises year-round enjoyment. Located in a desirable Mesa area, close to shopping, parks, school, and freeway access. Wow, just WOW!

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11511 E Monte Avenue Mesa, AZ 85209

$629,900

3 Beds

2 Baths

2,241 SqFt

Status Active

MLS # 6775940

Property Type Single Family Residence

Price Type --

Welcome to this beautifully updated 3-bedroom, 2-bath residence in the 55+ Community of Sunland Springs Village! Inside, you'll find a spacious living room with soaring vaulted ceilings, a soothing palette, plantation shutters, and durable tile flooring. The eat-in kitchen comes with quartz counters, abundant new cabinets, a mosaic tile backsplash, stainless steel appliances, and a large island with a breakfast bar for casual meals. The cozy main bedroom offers an ensuite with double sinks, a walk-in shower, and large walk in closet. Venture out onto the backyard, complete with a covered patio and a quaint shed for added storage. Make this gem yours now!

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18228 N 60th Drive Glendale, AZ 85308

$629,900

4 Beds

3 Baths

2,362 SqFt

Status Active

MLS # 6778436

Property Type Single Family Residence

Price Type --

***RARE FIND*** RV Garage with LIFT Plus a 3 Car Garage, Large Lot, Pool & NO HOA!!! Don't miss out on this fantastic tri-level home with excellent location at Sunset Vista! Showcasing great curb appeal, RV gate, and a no-fuss landscape. PLUS! A detached RV garage with a lift and split AC unit! The interior boasts vaulted ceilings, wood-look floors, carpet in the right places, and plantation shutters. Discover bright living and dining rooms. Continue into the impeccable kitchen to find track lighting, ample wood cabinets, tile backsplash, granite counters, SS appliances, and an island. The lovely breakfast room overlooks the spacious family room, outfitted with a wood burning fireplace, wet bar, and backyard access, promoting easy entertaining. The owner's suite has a lavish ensuite featuring high-end details, including a granite vanity, freestanding tub, and a walk-in shower with a double wall-mounted shower panel. Outside, the side yard hosts a workshop with epoxy floor. The backyard offers a cozy covered deck, multiple covered patios, fire pit, artificial lawn, a fenced pool with grotto/waterfall, and a hot tub under the pergola. This beauty has it all! Run, don't walk to see this gem!

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17691 W Cottonwood Lane Goodyear, AZ 85338

$629,900

3 Beds

3 Baths

2,202 SqFt

Status Active

MLS # 6722226

Property Type Single Family Residence

Price Type --

Welcome Home!!! This gorgeous 3 bedroom 3 bath home with a Casita at the desirable 55+ active community of CantaMia/Province at Estrella Mountain Ranch in in a fantastic location. Close to restaurants, shopping, parks & golfing at the Golf Club of Estrella. As soon as you step into this gated community home, you can see the pride of ownership with all that has been done. This elegant kitchen offers granite counter tops, a large island/breakfast bar for extra prep & storage, black appliances, filtered water, a pantry, full height travertine backsplashes & stunning crown molding cabinetry. Your spacious master suite offers a plethora of natural light from your bay windows, a walk in closet, dual vanity, a walk in shower & soaking tub to enjoy, as well as direct access to your backyard oasis . This gated community home also offers paid for solar (owned/no lease), upgraded ceiling fans & lighting, a casista with a full bathroom, a neutral paint scheme with accent walls, a den/office area to utilize, a 2 car garage with a water softener & central vacuum system, as well as a backyard oasis that includes a large covered patio, extended travertine pavers, mature desert landscaping & a sparkling heated pool to enjoy all year round. Your community at CantaMia has so much to offer to it residents. There is a state of the art fitness center with massage & spa rooms, an indoor & outdoor pool, a billiards room, library, lounge, numerous crafts & workshops, a cyber cafe & a demonstration kitchen, a dog park, as well as outdoor activities such as: pickleball, bocce ball, horseshoes & tennis courts are available at Estrella. This gem in the desert is a Great Buy & a Must See!!! **Furniture is available on a separate bill of sale.

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