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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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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6502 N Central Avenue Phoenix, AZ 85012

$625,000

3 Beds

2 Baths

1,880 SqFt

Status Active

MLS # 6740787

Property Type Apartment

Price Type --

Welcome to the PENTHOUSE of the iconic OLYMPUS on the Murphy Bridle Path in the ''North Central'' neighborhood of Phoenix. Built in 1964, this mid-century beauty boasts incredibly spacious rooms, large windows & two patios with mountain and downtown views! The primary suite features a walk-in closet and spacious bath with double sinks, incredible original tile and vanity and mountain views!The second bedroom features double w/in closets and...mountain views!The third bedroom/den has a door to one of the patio/balconies. The great room is...well, great with ...yes, mountain views! The balcony/decks have hundreds of square feet of space to enjoy our Sept-June weather! Secure covered parking for 2 cars is included along with additional storage.Walk to some of Phoenix's finest eateries too!

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6518 W Bent Tree Drive Phoenix, AZ 85083

$625,000

4 Beds

3 Baths

3,152 SqFt

Status Active

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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15999 W Montana De Oro Drive Surprise, AZ 85387

$625,000

4 Beds

3 Baths

2,515 SqFt

Status Active

MLS # 6747387

Property Type Single Family Residence

Price Type --

Gorgeous Home in Escalante For Sale that's better than new! The home has over $100,000 in upgrades all the way throughout, starting with the exterior that has charming curb appeal, front yard landscaping with lighting and irrigation, extra wide driveway pavers for additional parking, and additional pavers to the gate and beyond perfect for RV's, boats, toys, you name it! The interior has been completely upgraded as well, featuring soaring 10ft ceilings, 8ft doors, and a split floor plan that feels airy and bright! Notice the neutral wood look tile flooring and paint that go with any color! The kitchen is a chef's kitchen with massive island, 4-inch granite countertops, Upgraded GE Café Stainless Steel Appliances, custom drawers throughout, under cabinet lighting, and more! For gas cooking enthusiasts, it's stubbed and ready, too! The kitchen opens to the spacious family room, perfect for family time or entertaining, and features the 16 foot atrium sliding doors, giving that indoor-outdoor feel! The master bedroom is large, and boasts a resort style ensuite with raised countertops, double sinks, and a super-shower with two shower heads and granite bench, plus a massive walk-in closet! The additional bedrooms are spacious as well, and the secondary bathrooms have been equally upgraded. If that's not all, you'll love the flex space that could make for a perfect office, workout room, or craft space, the 3 car tandem garage with epoxy flooring, tankless water heater, spacious laundry room with stainless steel sink, and all the upgraded lighting and fans throughout! The backyard is your blank canvas, with plenty of space for a pool. Builder incentives are nice, but this house has it all, plus builder warranties, and with no build time! Escalante is a vibrant and family-friendly neighborhood renowned for its exceptional amenities and outdoor lifestyle. Nestled within this community are charming tree-lined streets that provide a serene backdrop to everyday living. Residents enjoy easy access to scenic hiking trails that invite exploration and adventure right at their doorstep. The neighborhood boasts a state-of-the-art aquatic center, perfect for relaxation and recreation. With eight select parks featuring ramadas, basketball courts, pickleball courts, and bocce ball courts, there's no shortage of recreational options. For disc golf enthusiasts, an 18-hole course offers a fun challenge, while a thrilling zip line provides endless enjoyment for kids. Escalante seamlessly blends active living with relaxation, making it an ideal place to call home. Welcome home!

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20750 N 87th Street Unit 2120 Scottsdale, AZ 85255

$625,000

2 Beds

2 Baths

1,356 SqFt

Status Active

MLS # 6745602

Property Type Townhouse

Price Type --

Scottsdale Living at its finest in coveted Grayhawk! Recently updated with new luxury plank vinyl flooring, new interior paint, refreshed kitchen cabinetry & new stainless steel appliances, this perfectly appointed townhome in gated Encore at Grayhawk offers mountain views & a perfect location just steps from amenities, shopping & dining. From the ground floor foyer and immaculate 2-car garage w/ new epoxy floor, spacious second level living awaits. Natural light washes this end unit's open floor plan featuring living & dining area with cozy gas fireplace along with nicely appointed kitchen and casual dining bar. The primary retreat presents a stunning McDowell Mountain backdrop from its French Doors & balcony, and opens to a nicely appointed bath with separate tub & walk-in shower plus large walk-in closet. There is also a second guest room with adjoining bath to the hall. Stacked laundry area will accommodate full size units. Relax on the balcony facing common area and enjoy our Arizona sunsets, or go to the fantastic resident clubhouse for a workout and a swim. Welcome Home!

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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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11224 E Upton Avenue Mesa, AZ 85212

$625,000

4 Beds

3 Baths

2,150 SqFt

Status Active

MLS # 6746987

Property Type Single Family Residence

Price Type --

Over $60,000 in post-possession UPGRADES! Including electric blinds, a fully remodeled laundry room and primary bathroom, updated bathroom countertops, epoxy garage floor covering and garage cabinets, and a finished backyard complete with turf and a drip irrigation system. Additional features include an owned water softener, a reverse osmosis system, and newly installed light fixtures // ceiling fans throughout all bedrooms and living areas. This move-in-ready home boasts a split floor plan, an open-concept living room and kitchen, and elevated design accents throughout. Refrigerator, washer & Dryer included! Don't miss out on this opportunity.

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10744 W Briles Road Peoria, AZ 85383

$625,000

3 Beds

2.5 Baths

2,512 SqFt

Status Active

MLS # 6747063

Property Type Single Family Residence

Price Type --

This gorgeous home with a sparkling POOL is move in ready & fully upgraded! Gourmet kitchen w/ white cabinets, stainless steel appliances, 5 burner gas range w/ hood, wine fridge, large pantry & granite counters. Tandem garage 48' long to fit your SUV, boat, etc. Great floor plan w/ den (or bedroom) or could change to a formal living in front, large great room, soaring vaulted ceilings bringing natural light throughout the whole home. The powder room downstairs can easily have a shower added. Plumbing already installed. Upstairs is open loft, two large bedrooms and the primary suite. Backyard features sparkling pool and covered patio w/ low maintenance turf that has sprinkler system to keep it cool for your kids/pets. Across the street from the park.

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44025 N 44th Lane New River, AZ 85087

$625,000

4 Beds

3 Baths

2,823 SqFt

Status Active

MLS # 6753711

Property Type Single Family Residence

Price Type --

SOLAR to be PAID OFF at COE, and already accruing credits! This exceptional 4 BR, 3 BA single-level home in a cul-de-sac corner lot with 2 Master Suites, each with en-suite baths, walk-in closets, and outside access. Features include a large kitchen with breakfast bar, nook, island, desk, and stainless appliances. Enjoy high ceilings, a split floor plan, and a private backyard with a covered patio, sitting area with gas fire pit, and new turf play area. Built with efficient 2x6 construction, low-E windows, 2 newer AC units and Solar Panels to keep your electric bill even lower.. Recent updates include a new water heater, dishwasher, disposal, RO system, and garage door. Close to I-17, shopping, restaurants, and Anthem Community Center with fitness, pool, tennis, and waterpark amenities.

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6919 E Quince Street Mesa, AZ 85207

$625,000

3 Beds

2.5 Baths

2,039 SqFt

Status Active

MLS # 6756462

Property Type Single Family Residence

Price Type --

Your dream home in Las Sendas is here! This delightful 3-bedroom, 2.5-bath residence features a 3-car garage, an attractive paver driveway, and an eye-catching stone facade. Discover an inviting great room with high ceilings, a soothing palette, recessed lighting, classic plantation shutters, and stylish wood-look flooring. The gourmet kitchen comes with granite counters, abundant white cabinetry with crown moulding, sleek stainless steel appliances, a pantry, and a center island with a breakfast bar for casual dining. The primary bedroom offers soft carpeting, an ensuite with double sinks, and a walk-in closet. Enjoy quiet afternoons in the backyard, complete with a gas firepit stub, a covered patio for al fresco dining and serene panoramic views. Make this gem yours today!

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1643 W Harmont Drive Phoenix, AZ 85021

$625,000

3 Beds

2 Baths

1,896 SqFt

Status Active

MLS # 6761053

Property Type Single Family Residence

Price Type --

Welcome to 1643 W Harmont! Located in the highly coveted Sunnyslope School District, this move-in ready home with NO HOA has been well maintained and comes loaded with upgrades and improvements. These features include: 3 generously sized bedrooms and 2 newly updated bathrooms. The open kitchen was remodeled in 2015 and features under-mount cabinet lighting, track lighting, brand new appliances, gas range, a four-seat breakfast bar, and direct access to the backyard. Other updates include a new roof, replaced in 2020 with a 30-year warranty, new remote control fans, no carpet throughout, USB Outlets, new ceiling fans, a new water softener and cozy fireplace. This is also an energy-efficient home boasting a 16 SEER Trane Unit and ductwork (2015), new AC condenser (2024), new water heater (2024) added insulation (2019) and argon-filled, tinted vinyl windows. Finally, step outside to your south-facing backyard for a year-round urban oasis. Complete with a covered patio, a sparkling pool which was drained and acid washed in 2020 and boasting a new variable speed pool pump installed in 2023. Additionally, you'll find natural grass, a sizable shed and an RV gate for easy access. Plan your private tour of this stunning and well maintained Royal Oaks home, today!

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9802 S 46th Street Phoenix, AZ 85044

$625,000

4 Beds

3.5 Baths

2,417 SqFt

Status Active

MLS # 6759316

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This stunning 4-bedroom, 3.5-bathroom property offers luxury living in a serene Ahwatukee neighborhood with no HOA. The spacious design features high ceilings and large windows, flooding the home with natural light and offering breathtaking views of the heated pool, spa, and mountains beyond. The master suite is a private retreat, complete with an en-suite bathroom and a walk-in closet. The functional kitchen is equipped with reliable appliances, ample storage, and a convenient layout perfect for daily cooking or entertaining. One of the home's standout features is the windows that provide a seamless connection between indoor and outdoor living. Step outside to enjoy the large heated pool and spa, perfect for year-round relaxation and entertainment. Above, the second-story deck spans the entire length of the home, offering panoramic views of the pool, spa, and surrounding mountainsideal for enjoying your morning coffee or watching the sunset, with the high block wall providing extra privacy. Located minutes from major freeways, scenic hiking trails, golf courses, and top-tier restaurants, this home offers the best of both convenience and tranquility. Don't miss the chance to make this stunning property yours!

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