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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25621 W Patton Road Wittmann, AZ 85361

$625,000

3 Beds

2 Baths

1,613 SqFt

Status Active

MLS # 6760577

Property Type Single Family Residence

Price Type --

Welcome to 25621 W Patton Rd, a stunning property nestled in the serene landscape of Wittmann, AZ. This charming home offers a perfect blend of comfort and style, ideal for those seeking a peaceful retreat while remaining conveniently close to urban amenities. Featuring 3 bedrooms and 2 bathrooms, the spacious layout provides ample room for family and guests. The bright and airy kitchen is equipped with stainless steel appliances, granite countertops and opens into a cozy living area, perfect for entertaining. Step outside to discover a vast backyard complete with a covered patio, ideal for relaxing evenings under the stars or hosting weekend barbecues. Surrounded by stunning desert landscapes, you'll enjoy breathtaking sunsets and the tranquility of country living, all while being just minutes from downtown Surprise, 1.8 miles to 4D Arena, 20 minutes to Dunns, 25 minutes to Wickenburg, 10 minutes to Horns and Hooves in Morristown, 30-40 minutes to Buckeye. This property is more than just a house; it's a lifestyle. Whether you're looking to unwind in your private oasis or host friends and family, this home has everything you need and more. Don't miss your chance to own this desert gem and experience the charm of Wittmann living firsthand with a turnkey property ready for you! A beautiful horse property in the heart of the roping capital of the world. Great place for winter visitors, boarding, ropers and barrel racers. This property is location makes it a possible income potential. This 1.27 acre property features a riding area for barrel pattern, 4 15X15 stalls in mare motel, 3 rv hookups Covered back patio with plenty of room to add more stalls!

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5002 N 86th Place Scottsdale, AZ 85250

$625,000

3 Beds

2 Baths

1,832 SqFt

Status Active

MLS # 6762719

Property Type Single Family Residence

Price Type --

Beautifully kept 3 bed 2 bath home in the desirable Park Scottsdale neighborhood. This 1832 sq ft home features an open concept floor plan with a modern kitchen and updated flooring. The primary suite offers an en-suite bath and walk-in shower. Enjoy a private backyard with a covered patio, perfect for outdoor living. Move-in ready with fresh paint, newer roof, newer HVAC system and located near the Greenbelt. Minutes from Old Town Scottsdale, parks, shopping, dining, and easy freeway access. This charming home is turnkey and perfect as a primary residence, vacation home, or investment property. Don't miss out on this rare opportunity to own a stunning home in one of Scottsdale's most desirable neighborhoods!

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16023 S 13th Way Phoenix, AZ 85048

$625,000

3 Beds

2.5 Baths

2,231 SqFt

Status Active

MLS # 6764734

Property Type Single Family Residence

Price Type --

Nestled in a gated community this home sits on a great interior lot backing to the Foothills Golf Course. This spacious home offers a double door entry that leads you to the dining/ living areas. Enjoy entertaining in the kitchen w/ granite counters, window at kitchen sink, island w/cooktop, stainless appliances & eat in area for the kitchen table that looks out to the beautiful backyard. The kitchen looks into the spacious family room & it has an inviting wood burning fireplace to relax & enjoy this upcoming holiday season. The master bedroom is downstairs w/ a separate tub & shower and dual sinks with a large walk in closet. Upstairs the loft or second family room/media area is a great place to unwind w/ family. Nice sized secondary bedrooms a plus! Enjoy family & friends outback enjoying the sparkling pool and mature landscaping that looks back to the golf course. This is a well maintained home with a New Roof summer of 2023 and AC unit replaced in 2019! The Golf Course is active now with PAR 72 Course with the Sunset Grill. The home is located on the 6th hole. Enjoy the great AZ lifestyle with golf, shopping, dining, entertainment, hiking, biking and great schools nearby!

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3884 E Dublin Street Gilbert, AZ 85295

$625,000

3 Beds

2.5 Baths

1,837 SqFt

Status Active

MLS # 6767467

Property Type Single Family Residence

Price Type --

EXCELLENT OPPORTUNITY to own a Shea home with north/south exposure and a popular split floor plan, excellent backyard living, and LOCATED close to EVERYTHING: access to Loop 202, The Epicenter at Agritopia, Verde at Cooley Station, popular dining, hangout spots, amenities, grocery stores, schools, and so much more. Immaculate 3 bedroom/2.5 bath WITH a DEN! Recker Pointe offers a community pool, bocce ball courts, basketball court, playgrounds, and walking paths. This home has tons of upgrades, fresh paint, interior gas cooktop, custom interior door to den, built-in backyard bar-b-que, all tile home with no carpet, huge primary walk-in closet, extended length shower, and desert landscaping. Prewired for surround sound. Ten minutes from Mesa-Gateway airport, ASU polytechnic, and EVIT

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29398 N 130th Glen Peoria, AZ 85383

$625,000

3 Beds

2 Baths

1,635 SqFt

Status Active

MLS # 6771632

Property Type Single Family Residence

Price Type --

Welcome home to this beautiful Flora model that is nestled in the highly sought after community of Trilogy at Vistancia. You will immediately notice upon entering the home the paver oversized front courtyard to enjoy a morning coffee or simply entertain guests. You will love the chefs kitchen with maple cabinets, newer granite counter tops, a convenient center island and well thought out kitchen design. A Flex room that can be used as 3rd bedroom or den/study. Relax and enjoy entertaining all your guests with the privacy of this resort like backyard recently updated in 2018. This home boasts a new tiled floor 2020, recently replaced HVAC 2019, post tension slab, central vac, blown in insulation, 4 foot extension to the garage.

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19625 W Pinchot Drive Buckeye, AZ 85396

$625,000

4 Beds

2.5 Baths

2,656 SqFt

Status Active

MLS # 6771563

Property Type Single Family Residence

Price Type --

This stunning 3-year-old North/South facing residence features a designer kitchen with custom subway tile backsplash, 42-inch cabinets, Quartz countertops, and gourmet gas appliances. Enjoy the spacious ''Harry Potter'' pantry and a panoramic slider that opens to your backyard oasis with a sparkling play pool and gazebo, complemented by synthetic grass for low maintenance.The versatile 3-car tandem garage offers ample storage, while the upstairs boasts four oversized bedrooms and a spacious loft. Conveniently located near Costco, restaurants, Fry's Marketplace, freeways, and schools, this home combines luxury and accessibility. Plus, solar panels (loan-to-own) keep your energy costs low. Stop by and visit today!

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22348 N 70th Drive Glendale, AZ 85310

$625,000

5 Beds

2 Baths

2,486 SqFt

Status Active Under Contract

MLS # 6730033

Property Type Single Family Residence

Price Type --

Marvelous property with a Clear blue pool in the desired Hillcrest Ranch Community! A great one-story home on an oversized lot features high vaulted ceilings with skylights in the right areas that make entertaining a breeze. spacious living room, formal dining, or intimate family room! The eat-in kitchen has a pantry, tile counters, honey oak cabinets, track lighting, and a breakfast bar for casual meals. awesome master retreat with Laminate flooring, a bay window, a bathroom with dual sinks, a garden tub, and a step-in shower. The backyard boasts a covered patio, lovely paver seating area, come seet his amazing property and make it yours.

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3611 E Phelps Street Gilbert, AZ 85295

$625,000

4 Beds

2.5 Baths

2,997 SqFt

Status Active Under Contract

MLS # 6738794

Property Type Single Family Residence

Price Type --

PRICED TO SELL!! Discover your dream home in Cooley Station in the heart of Gilbert, AZ! This stunning 4 Bed /2.5 Bath property is must-see. Priced at just $625,000, it won't last long. With granite countertops, a gorgeous sitting and family room, oversized island with tons of kitchen storage, a walk-in pantry,3 car tandem garage with epoxy floors and custom cabinets for storage and more. The primary bedroom suite features a walk-in shower, separate tub, his and her vanity and a spacious W/I closet. The supersized game room can also be used as a 5th bedroom if needed. Relax in your huge pavered backyard with built-in grill area and substantial seating. Minutes from great schools, shopping, restaurants, parks and the freeway. Act fast and make it yours before it's gone!!

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16397 W Roosevelt Street Goodyear, AZ 85338

$625,000

5 Beds

3 Baths

4,166 SqFt

Status Active Under Contract

MLS # 6742317

Property Type Single Family Residence

Price Type --

Welcome your Sanctuary awaits! This 2-story home boasts an open floorplan with 5 bedrooms, 3 bathrooms and sits at 4166 square feet. Upon entrance you are greeted by high ceilings and a stunning spiraled staircase. Beautifully updated with tile flooring and granite countertops. The kitchen has an open layout which is great for entertaining. The upstairs loft creates the perfect space for a home office. Conveniently located near Pebble Creek Golf Resort, as well as shopping centers and entertainment. Assumable FHA loan at 4.75%!!

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6518 W Bent Tree Drive Phoenix, AZ 85083

$625,000

4 Beds

3 Baths

3,152 SqFt

Status Active Under Contract

MLS # 6743569

Property Type Single Family Residence

Price Type --

Picture-perfect sunsets from your new home! This large 4 bed/3 bath plus loft is located in a quiet neighborhood w/picturesque views. Lovely curb appeal w/stone accents & front porch. Spacious living areas excellent for hosting & entertaining guests. Upgrades include new interior paint, a gas fireplace, new lighting throughout, & a new water heater. The gourmet kitchen is equipped with an electric cooktop, a wall oven, granite counters, rich wood cabinetry, & an island w/a breakfast bar. Main suite upstairs has a full ensuite, a walk-in closet, & a private balcony w/mountain views. Don't miss the spacious 3-car garage! The vast backyard provides a covered patio & a firepit. Hiking trails right down the street. Backyard ready for your dream pool design! See rendering photos for inspiration

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2949 W Morrow Drive Phoenix, AZ 85027

$625,000

4 Beds

2 Baths

2,214 SqFt

Status Active Under Contract

MLS # 6752400

Property Type Single Family Residence

Price Type --

Big, Beautiful Block Home with Extra Garage & Workshop - Coveted Ridgewood Acres, North Phoenix This spacious 4-bedroom, 2-bathroom, 2214 square foot block home is located in the highly sought-after Ridgewood Acres community in North Phoenix. Sitting on extra-large 0.4-acre lot, this home offers plenty of space both indoors and out, perfect for families and hobbyists alike. Key Features: •Pavered Circle Driveway & Covered Entry: Welcoming entryway into the family room/den for extra cozy living space. •Wood-Burning Fireplace: Cozy up in the living area with a charming wood-burning fireplace. •Updated Kitchen: Features soft-close cabinets, a pantry, granite countertops, stainless steel appliances, and a breakfast area with a bay window. •Formal Dining Room: Perfect for hosting dinners or family gatherings. *Primary Bedroom: Includes a walk-in closet, separate shower & toilet, and updated vanity. *Updated Bathrooms: Both bathrooms feature updated vanities and countertops for a modern touch. * Attached 2-Car Garage & Laundry Room: Attached garage for easy access and extra storage. Spacious laundry area in garage, includes washer & dryer. *Outdoor Living: Large covered back patio, lush grassy yard with mature shade trees - perfect for relaxing or entertaining. *Plenty of Storage & Workspace: The extended driveway leads to a large 28' x 32' detached garage/ workshop, complete with cabinets, workbenches, and space for all your vehicles, RVs, and toys. *Automatic RV Gate & Large Slab Area: Secure and convenient parking for RVs or extra vehicles. *No HOA: Enjoy the freedom to make this space your own without restrictive HOA regulations. *Prime Location: Located minutes from I-17 and 101 freeways, this home is close to shopping, dining, and entertainment, providing easy access to everything North Phoenix has to offer. Don't miss out on this rare opportunity to own a home in Ridgewood Acres!

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619 E Hearne Way Gilbert, AZ 85234

$625,000

4 Beds

2 Baths

2,357 SqFt

Status Active Under Contract

MLS # 6769161

Property Type Single Family Residence

Price Type --

This beautifully updated 4bed/ 2bath gem offers an open concept living & dining space perfect for entertaining. The stylish kitchen boasts a large quartz island, ss appliances, & a cozy eat-in nook. Retreat to the master suite w/double doors, spa-like bath with quartz counters, a luxurious tub & glass enclosed shower, & spacious walk-in closet. The secondary bedrooms are generously sized, & the second bath is newly remodeled with chic tile & quartz. Step outside to a lush, landscaped yard & expansive patio, ideal for gatherings. Community perks include a heated pool/spa, walking trails, and serene green belts. Plus, you're minutes from downtown Gilbert's restaurants, shopping, and Freestone Park. Recent upgrades include OWNED SOLAR, fresh paint, new carpet, fully remodeled bathrooms, & and a brand-new roof. This home is move-in ready and located in a highly desirable neighborhooddon't miss out!

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