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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22769 E Orion Way Queen Creek, AZ 85142

$625,000

4 Beds

3 Baths

2,635 SqFt

Status Active

MLS # 6727430

Property Type Single Family Residence

Price Type --

Wait for the Builder? No need with this upgraded ready to go beauty! 4 bedroom 3 bath home with tandem 3 car garage, finished backyard with artificial turf and great landscape. Home is highly upgraded and move in ready now! 12x8 sliding glass door that leads out to the extended covered patio. Pavers at drive, walk and entry, garage service door and an 8' garage door. Stainless steel gas appliance package with a 30'' cooktop/canopy hood. Tahoe Cherry slate cabinets through out with 42'' upper kitchen cabinets with 4-1/4'' crown. AZT Della Terra Quartz ''Linen-Off white'' quartz countertops. Upgrade floor includes Aura Cream 20x20 tile and Neutral color carpet. White Matte 4x12 ceramic tile at the shower/tub surrounds in owner's bath. Water softener and gas stub finish off the perfect home.

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2920 S 96th Street Mesa, AZ 85212

$625,000

4 Beds

2 Baths

2,334 SqFt

Status Active Under Contract

MLS # 6780421

Property Type Single Family Residence

Price Type --

Check out this gorgeous home in the highly sought after Mesquite Canyon Community. Plenty of parks, play areas & Gilbert Schools! This home has 4 bedrooms 2 baths and a large office space that can be converted into a 5th bedroom. The updates are breathtaking! Quartz countertops, a large kitchen island, tile in every room, recess lighting and fresh custom paint are just some of things you will love. The gorgeous master and guest bathrooms are a must see! The master bedroom has a private backyard entrance for a convenient access to the new pebble tech pool! New AC was just installed. Close to shopping, dining, freeways and entertainment!

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4046 E Del Rio Street Gilbert, AZ 85295

$625,000

4 Beds

2 Baths

2,268 SqFt

Status Active

MLS # 6766936

Property Type Single Family Residence

Price Type --

Welcome to this stunning single-level home built by Shea Homes, featuring a desirable split floor plan with 4 spacious bedrooms and a versatile bonus room perfect for a home office, workout space, or even a mother-in-law suite. The gourmet kitchen is a chef's dream, boasting custom cabinetry, sleek quartz countertops, and top-of-the-line appliances. With tile flooring throughout, a recently replaced roof, AC and a brand-new water heater, this home is move-in ready.. Step outside to your serene, private backyard complete with flagstone walkways, and enjoy the convenience of an RV gate. Located near the 202 freeway and close to local favorites like Joe's Farm Grill, you'll never be far from great dining and shopping. This home offers the perfect blend of luxury, comfort, and convenience!

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9618 E Monterey Avenue Mesa, AZ 85209

$625,000

4 Beds

2.5 Baths

3,389 SqFt

Status Active

MLS # 6787044

Property Type Single Family Residence

Price Type --

This gorgeous two story home with 4 beds & 2.5 baths offers mature landscaping and 3 car garage. Inside a bright foyer welcomes you upon entry; formal living room, dining, and large family room are some attributes that can't be left unsaid. Lovely kitchen includes stainless steel appliances, large 42' oak cabinets, solid surface counters, island, breakfast bar, pantry, and breakfast room. Office/Den space & powder room on 1st level. Upstairs you will find a loft & a large bonus room ideal for an entertainment area. Master suite has vaulted ceiling that add to the spacious feel, full bath with dual vanity, separate tub/shower, and walk-in closet. Stunning backyard boasts covered patio and fabulous pool.

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2132 Quail Court Page, AZ 86040

$625,000

4 Beds

4 Baths

2,358 SqFt

Status Active

MLS # 6699099

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This charming Santa Fe-style abode boasts 4 beds and 4 baths, perfect for your family's comfort. With a spacious two-story layout, every corner exudes warmth and character. Hard flooring throughout ensures easy maintenance, while granite countertops elevate the kitchen and bathrooms with timeless elegance. Embrace the Southwest vibes and make cherished memories in this inviting sanctuary.

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1873 E Mcnair Drive Tempe, AZ 85283

$625,000

4 Beds

2.5 Baths

2,138 SqFt

Status Active

MLS # 6663148

Property Type Single Family Residence

Price Type --

Amazing location in Tempe! Welcome home by Oasis Anozira lake subdivision, with community walking path around the nearby lake. This home features 4 bed. , 2.5 baths, Family room opens to the kitchen w/ island & dining area , Formal Living Room & Dining Room w/ Vaulted Ceiling , From Master Bed. you can exit to the beautiful, huge balcony & enjoy the outdoors. The Master bath features double sinks, separate shower, bath tub, toilet room & walking closet. Garage includes built in cabinets, front entrance with tile & lash landscaping, the extended back patio has newer ceiling, neutral tile, the walkway along the house. Enjoy the beautiful landscaped yard with large grassy area. House has new A/C (installed Jan. 2024) and great location, close to major freeway, shopping, dining..

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17750 W Pershing Street Surprise, AZ 85388

$625,000

3 Beds

2 Baths

2,526 SqFt

Status Active

MLS # 6696333

Property Type Single Family Residence

Price Type --

Gorgeous Single Level 3 bedroom plus an Office/Den or 4th Bedroom One full bathroom and one full deluxe bathroom. Kitchen plus Nook Lot Size: Almost 1/4 acre. ''Huge back yard'' Extra driveway added with 2 RV Gates. Open floor Plan. Lrg Family Room. Formal Living & Dining Room. Lrg Laundry Room. Large private pool (10k Gal) and Hot tub. Cobble stone driveway & 2nd RV gate added. 5+ Parking Spaces, plus Security/Motion lighting added,(Front and Back). Minutes to golfing, Walmart and more. Easy access to 303 hwy. New Recreation Center coming in 2025, three mins away.

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28312 N 213th Drive Wittmann, AZ 85361

$625,000

4 Beds

2.5 Baths

2,142 SqFt

Status Active

MLS # 6721829

Property Type Single Family Residence

Price Type --

10K SELLER CONCESSIONS with a full price offer and coe by 12/20/2024. Gated Enclave 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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10921 W Harrison Street Avondale, AZ 85323

$625,000

5 Beds

3 Baths

3,137 SqFt

Status Active

MLS # 6725891

Property Type Single Family Residence

Price Type --

Beautiful,Spacious Home in immaculate condition w/ FIVE bedrooms, 3 bath, & a loft, offers comfort, style & convenience. Modern kitchen boasts granite countertops, stainless steel appliances, generous cabinet space & a pantry. Luxurious Master suite offers picturesque mountain views, an en-suite bathroom featuring dual sinks & a huge walk-in closet. Step out to a private backyard w/ a covered patio & low-maintenance turf yard perfect for entertaining. Offers 1st floor bedroom & bath & conveniently located near I-10, Loop 101, shopping, & golf courses. Community has amenities such as a basketball court, sand volleyball court, playgrounds & barbecue areas. Home has first floor guest bedroom and 4 more upstairs with high pile carpet, 2nd floor laundry room & lots of storage throughout.

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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 --

$10K seller concessions with a full price offer and coe by 12/20/24. 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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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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10842 N 9th Place Phoenix, AZ 85020

$625,000

3 Beds

3 Baths

2,171 SqFt

Status Active

MLS # 6736524

Property Type Townhouse

Price Type --

Welcome to your dream home! This sophisticated 3-bedroom, 3-bath residence is surrounded by lush vegetation and stunning mountain views. Inside, you'll find custom cabinetry, granite countertops, stainless steel appliances, and an eat-in dining area. Enjoy high vaulted ceilings, clerestory windows, and brand new tile flooring. The primary bedroom is downstairs, featuring an ensuite with a new walk-in tile shower and walk-in closet. The upstairs loft is a versatile flex space with an ensuite and private balcony. The tranquil backyard/patio, with no neighbors behind, offers serene outdoor living with multiple seating areas. A short walk takes you to one of four community pools and clubhouse. This home is in the renowned Paradise Valley Schools district. Don't miss this exquisite property!

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