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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2809 E Via Estrella -- Phoenix, AZ 85028

$625,000

3 Beds

2 Baths

1,935 SqFt

Status Active

MLS # 6704744

Property Type Single Family Residence

Price Type --

Considering a move and looking for a sign? Consider this your sign! Enjoy this charming home located on a quiet cul-de-sac in sought after neighborhood. You will love the mountain views, renovated bathrooms, new carpeting throughout, new air conditioning unit and upgraded electrical panel. Enjoy the thoughtfully designed floor plan with dining room room that opens to the living room and the kitchen/family room combination with sliding glass door to covered patio overlooking the gorgeous pool and beautifully landscaped back yard. Easy access to HWY 51 and walking distance to the Phoenix Mountain Preserve.

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4024 E Shangri La Road Phoenix, AZ 85028

$625,000

3 Beds

2 Baths

1,608 SqFt

Status Active

MLS # 6724463

Property Type Single Family Residence

Price Type --

Located in the desirable Shea Corridor, this beautifully updated property offers a blend of modern amenities and comfortable living. Step inside to find your perfect home, featuring two versatile living spaces with easy-to-maintain flooring that flows seamlessly throughout. The modern kitchen is a chef's delight, boasting a large island and stunning quartz countertops, ideal for cooking & entertaining. The primary bedroom serves as a private retreat, complete with an updated ensuite bathroom. Two additional spacious bedrooms designed for comfort & relaxation. Situated on a huge lot, the outdoor space includes low-maintenance artificial turf, perfect for outdoor activities. A large covered patio offers the ideal spot to enjoy the outdoors, and an RV gate for additional parking & storage needs. Recent updates feature a newer roof, HVAC system, windows with Bulldog security screens, water softener, and reverse osmosis system. The spacious two-car garage comes with an extra storage space. Located near shopping, entertainment, and with easy freeway access, this home makes your daily commute a breeze. Situated within the highly regarded Scottsdale School District, don't miss the opportunity to own this beautiful home in a prime location!

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28332 N 213th Drive Wittmann, AZ 85361

$625,000

4 Beds

2.5 Baths

2,142 SqFt

Status Active

MLS # 6725717

Property Type Single Family Residence

Price Type --

GATED ENCLAVE. This home is north. the 3rd on the left 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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15550 N Frank Lloyd Wright Boulevard Unit 1009 Scottsdale, AZ 85260

$625,000

3 Beds

2.5 Baths

1,656 SqFt

Status Active

MLS # 6726509

Property Type Single Family Residence

Price Type --

One of the kind with tons of upgrades done just recently. Brand new flooring with water proof laminate, brand new kitchen with quartz countertops, LG appliances, newer AC unit only 3 years old, brand new windows in entire house just installed, one year old water heater, newer water softener and water osmosis, equipment. Not to mention prime Scottsdale location just east of Loop 101 on Frank Lloyd Blvd . Phoenix Open, Barret Jackson and TONS of shopping/dining at Kierland Commons/Scottsdale Quarter just down the street. Don't miss this opportunity this place offer to you.

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1898 Kensington Court Prescott, AZ 86301

$625,000

3 Beds

4 Baths

2,469 SqFt

Status Active

MLS # 6733682

Property Type Single Family Residence

Price Type --

Set within the charming development of Kensington Place, a community of only 12 homes centrally located in Prescott, lies this stunning contemporary main-level living home. Step inside and be greeted by the inviting foyer and open office/den, which can also serve as a formal dining area. The great room concept is sure to impress with its high-volume ceiling & 3-panel glass door that bathes the space in natural light. The dining area and kitchen flow seamlessly into the great room, creating an ideal layout for entertaining. The kitchen is a showstopper, featuring floor-to-ceiling dark stained cabinetry with glass-enclosed display cabinets, quartz counters, and a suite of stainless-steel appliances, including a 5-burner gas range. The spacious master bedroom offers access to the back patio and an ensuite bathroom with a walk-in shower with tile insets, double sink vanity, water closet, and walk-in closet. The main level also includes a powder room, laundry room, storage area, and access to the 2-car garage. Upstairs, the luxurious feel continues with a large bonus/family room, currently used as a game room with a pool table and access to the covered deck via a sliding glass door. Two roomy guest bedrooms share a Jack and Jill bathroom, and there's an additional powder room on this level as well. The backyard is beautifully landscaped and fenced with rock, block, and wrought iron, while beyond the fence lies terraced rock landscaping. The covered paver back patio is the perfect spot to relax with a glass of wine as the sun sets in the west. A side yard gate opens to tasteful low-maintenance landscaping with both front and back yards drip water systems on a timer. Located at the end of the street, this property borders Blooming Hills Estates park/open space directly to the north. Additional highlights include a tile roof, durable porcelain plank tile floors in the main living area, high-end carpet in the bedrooms and game room, and granite counters in the bathrooms. This property offers the style and amenities of a Prescott Lakes home without the high HOA fees. It's conveniently close to hiking trails, including the Peavine Trail and Watson Lake. The HOA, now resident-managed, has reduced dues since the takeover. Come see this exceptional home today.

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4284 E Erie Street Gilbert, AZ 85295

$625,000

4 Beds

4.5 Baths

3,168 SqFt

Status Active

MLS # 6732241

Property Type Single Family Residence

Price Type --

Gorgeous Mediterranean Style 3,168 Sq Ft Home. Built in 2017 in an Upscale Gilbert Community. Low Maintenance Lot Features Artificial Turf, Rock Landscape, & Pavers. The First Floor Features Spacious Open Living Space for a Game Room/Den with a Half Bath, Patio Access, and 2-Car Garage with Included Water Softener. The Mid-Level 2nd Floor Features Very Large Open Floor Plan with Spacious Living Room, Huge Gourmet Kitchen, Breakfast Bar, Dining Area with Double Patio Doors Opening to Large Balcony. The Mid-Level also has a Bedroom, Full Hall Bath & Laundry Room. The Top-Level 3rd Floor Features the Owner's Suite with Large Primary Bedroom, Spa Inspired Bathroom & Walk-In Closet. Top-Level Also has 2 Junior Suites with Private Bathrooms. Enjoy the Community Pool, Park & Basketball Court. Shop & Dine at Cooley Station, Verde and Upscale Santan Village.

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19640 S 193rd Street Queen Creek, AZ 85142

$625,000

4 Beds

2.5 Baths

2,752 SqFt

Status Active

MLS # 6737823

Property Type Single Family Residence

Price Type --

Beautiful home with 4 bedroom, 2.5 bath, 3 car garage, family room, living room, dining room, large kitchen, and MANY MORE! Almost ¼ acre Premium Lot backing to a Park. Extended length 70 ft driveway, plenty of room for a 5th wheel and truck to load and unload. RV Gate for added low profile storage. Great location close to shopping, restaurants and entertainment. Don't let this home pass you by!

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4116 E Wagoner Road Phoenix, AZ 85032

$625,000

5 Beds

2 Baths

2,240 SqFt

Status Active

MLS # 6741473

Property Type Single Family Residence

Price Type --

Fantastic opportunity on this beautiful property! Recently appraised twice, first at $660,000 and second at $650,000. Discover this beautifully remodeled home, where modern elegance meets unparalleled functionality. This property features 5 spacious bedrooms and 2 spa-like bathrooms, offering a blend of style and comfort. The brand-new kitchen shines with quartz countertops and the latest appliances, complemented by a generous laundry room for added convenience. Wooden floors throughout and meticulous tile work in the bathrooms and laundry area accentuate the home's appeal. New windows, interior doors, and elegant pavers in the front, back, and pool areas elevate the property's aesthetic and utility. Unique to this home is an entertainment area with a bar near the pool, designed for memorable parties and gatherings. The expansive backyard serves as a private retreat for relaxation or entertainment,

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10441 E Cinnabar Avenue Scottsdale, AZ 85258

$625,000

3 Beds

2.5 Baths

2,000 SqFt

Status Active

MLS # 6752750

Property Type Single Family Residence

Price Type --

** TWO MASTER SUITES ** NEW FLOORING ** CUSTOM SHUTTERS ** This meticulously maintained single level patio home in the heart of Scottsdale Ranch 55+ adult community has everything you need. It is equipped with 2 master suites, each with spacious bathrooms that have walk-in showers (one with an independent soaking tub), and a third bedroom and half guest bath. Is closet space important to you? Get ready because one of the master suites comes equipped with FIVE closets! The vaulted ceilings host a sky light that fills the home with natural light! Your kitchen comes with stainless steel appliances and rich wood cabinetry. Storage is plentiful with built in cabinets in both the expansive laundry room & 2 car garage! The roof is just 8 years young, and the carpet was replaced in July of 2024. This home is all one level with no interior steps. Take a stroll through the community while you are here to experience all that Scottsdale Ranch has to offer! From the heated community pool & spa, to the tennis courts & racket ball club. From the gorgeous lakes to the breathtaking parks. From the golf club to the clubhouse activities. There is no shortage of things to do, people to meet, and places to see here at Scottsdale Ranch!

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10051 E Pampa Avenue Mesa, AZ 85212

$625,000

4 Beds

2 Baths

2,458 SqFt

Status Active

MLS # 6747970

Property Type Single Family Residence

Price Type --

Wow! 3 walk-in closets! Immaculate single-level 4-bedroom, 2-bath home with an open floor plan and split bedroom design. The spacious living areas feature vaulted ceilings and neutral colors, with new carpet in the family room for added comfort. The eat-in kitchen, complete with a breakfast bar, flows seamlessly into the living room, creating an inviting space for gatherings. Relax in your primary suite, complete with an updated ensuite bathroom and a large walk-in closet. The additional three bedrooms are generously sized, 2 with walk-in closets, providing ample space for family, guests, or a home office. Step outside to your backyard oasis, featuring a sparkling heated pool, a large covered patio area—perfect for entertaining and relaxation. Close freeway access and shopping!

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43871 E Cadillac Wash Road Tucson, AZ 85739

$625,000

3 Beds

3 Baths

2,894 SqFt

Status Active

MLS # 6750532

Property Type Single Family Residence

Price Type --

CHARACTER, PRIVACY, VIEWS!! This spectacular single-story home, set on an expansive 6.58 acre lot that offers the ultimate sanctuary and space. The desirable interior features high ceilings, expansive windows, tons of wood craftsmanship, including stained solid wood doors, stylish tile and hardwood flooring that flows effortlessly throughout. The open floor plan offers entertaining in style including the charming dining room with cozy fireplace, setting the perfect ambiance for everyday enjoyment. The stunning kitchen is a chef's dream, boasting durable stained concrete countertops, stainless-steel appliances, electric cooktop, double wall ovens, spacious island/breakfast bar with extra storage. Every detail, has been carefully curated, from the recessed lighting, travertine tile backsplash to the striking stone walls and hand crafted wood cabinetry. The primary suite is a true luxury retreat, offering ensuite master bath with air jetted soaking tub, comfortable sitting area and a spacious walk-in closet. Step outside to your expansive backyard, where a large covered patio provides the perfect space for outdoor dining and relaxation. Enjoy the hot tub spa, low-maintenance artificial turf, natural desert landscape with surrounding mountain view's and beautiful sunsets. A detached workshop and extra storage room complete this exceptional property. Lots of room to grow! Low property taxes and NO HOA. Make this gem yours today!

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8537 E Jackrabbit Road Scottsdale, AZ 85250

$625,000

3 Beds

2 Baths

1,520 SqFt

Status Active

MLS # 6751481

Property Type Single Family Residence

Price Type --

This desirably located 3 bedroom, 2 bath home in the heart of Scottsdale is close to everything - Chaparral Park, Old Town Scottsdale, Fashion Square, Spring training facilities, Talking Stick Resort, Arizona Boardwalk and more. AC replaced in 2023, this home features an open floorpan, dual pane windows, and white wood shutters throughout. Kitchen is large enough to entertain and living room features a welcoming fireplace. The spacious backyard is large enough for a pool or bbq! It currently features a RV gate, enclosed Arizona room and storage shed.

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