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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21225 W Wilshire Drive Buckeye, AZ 85396

$614,900

4 Beds

2.5 Baths

2,322 SqFt

Status Active

MLS # 6713534

Property Type Single Family Residence

Price Type --

Picture yourself enjoying the fall sunsets on your private patio next to your heated pool, perfect for entertaining family and guests, or maybe just your own quiet time This stunning 4-bedroom, 3-bathroom gem with a den features a modern design and an open floor plan, perfect for both family life and entertaining. The gourmet kitchen is a chef's delight, boasting contemporary appliances, a large island, sleek tile backsplash, quartz countertops, and ample cabinetry. Step outside to your private oasis with a fully landscaped yard and a luxurious heated pool, perfect for year-round enjoyment. The home also offers a three-car tandem garage, solar system for energy savings, and double gates to conveniently park your toys. Nestled on a desirable corner lot, this home is an absolute must-see

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907 E Rose Lane Phoenix, AZ 85014

$614,900

3 Beds

3 Baths

1,553 SqFt

Status Active

MLS # 6740547

Property Type Single Family Residence

Price Type --

Welcome to this charming, custom-remodeled home, in the heart of North Central. Completely transformed in 2016, this residence has impeccable upgrades, making it move-in ready. Step inside to beautiful flooring throughout, featuring a mix of carpet and wood tile. The home is bathed in natural light, thanks to the dual-paned windows. The heart of the home, the kitchen, is a chef's dream with stainless steel appliances, granite countertops, new lighting, and custom Shaker-style cabinets. It opens to a spacious family room, complete with a cozy fireplace and dual doors leading to the expansive backyard. The primary suite features a large walk-in closet, a recently updated three-quarter bath, and an additional secondary closet for extra storage. The large backyard is perfect for entertaining, with plenty of grassy space, a fire pit, and a 10x8 standalone storage unit. Parking is a breeze with a two-car carport and additional slab parking for up to four cars. Located with easy access to top Valley schools, popular restaurants, and shopping, this home offers the perfect balance of convenience and charm. Don't miss your chance to live in a neighborhood that everyone loves to call home.

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7807 E Mckinley Street Scottsdale, AZ 85257

$614,900

4 Beds

2 Baths

1,590 SqFt

Status Active

MLS # 6768199

Property Type Single Family Residence

Price Type --

Welcome to your dream home! Step inside to discover a beautifully crafted interior featuring chic wood-look floors and a bright great room that invites warmth and relaxation. The sleek kitchen is a culinary delight, boasting a plethora of cabinets, stainless steel appliances, a stylish tile backsplash, ample counter space, and a convenient breakfast bar for casual dining. Retreat to the main suite, which offers direct access to the serene backyard, a private bathroom, and a spacious walk-in closet. Plus, washer and dryer are included for your convenience! The tranquil backyard is your personal oasis, complete with a covered patio, artificial turf, and plenty of space for fun barbecues and gatherings. Don't miss this opportunity! Come and make it yours today!

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3948 E Gold Mountain Avenue San Tan Valley, AZ 85143

$614,857

4 Beds

3 Baths

3,146 SqFt

Status Active

MLS # 6776756

Property Type Single Family Residence

Price Type --

Enchanting new home featuring designer selections, a split floor plan, and north/south exposure. Located in Bella Vista Farms, homeowners have access to their community pool and playground. The kitchen boasts a GE Executive kitchen appliance package including double ovens and a gas cooktop, there are also Delta Terra Quartz Zinc countertops and Aristokraft 42'' cabinets in Benton White. Other highlights in the home include a frameless walk-in shower at the primary suite and Vicinity White 6 x 36 Matte Wood like tile flooring. Utilities for this home include: Mesa Gas, EPCOR Water, and Rural Metro.

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17728 N Deer Trail Maricopa, AZ 85139

$614,500

4 Beds

3 Baths

1,940 SqFt

Status Active

MLS # 6735874

Property Type Manufactured Home

Price Type --

This 2.49 acre property in Hidden Valley has it all! This gorgeous MOVE-IN READY home is just over 1900 sq ft. Western style property inside and out! The home features 4 bedrooms and 3 full bathrooms, and formal dining. Split floor plan with the main bedroom opening to an en-suite bathroom. Full length parking stalls along the side of the home. The property has a fully finished workshop & chicken coop equipped with a misting system. No HOA, shared well, fully fenced with GORGEOUS MOUNTAIN VIEWS and only minutes from city amenities! Bring your horses & make this home yours today. Truly a must see!

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646 W Naranja Avenue Mesa, AZ 85210

$614,375

4 Beds

2.5 Baths

2,039 SqFt

Status Active

MLS # 6738172

Property Type Single Family Residence

Price Type --

***UPDATE...With an Accepted Offer, Seller will pay off Solar Lease before close of escrow.**Price Reduced** $10k Below Market value and ready to sell, Seller says bring an offer!! Welcome to your dream home, a beautifully remodeled gem located in desirable Mesa neighborhood. This stunning residence has been thoughtfully updated both inside and out, combining modern luxury with functional design. The updated kitchen is a chef's delight, featuring sleek stainless steel appliances and elegant quartz countertops that make meal preparation a pleasure. Crown molding throughout the downstairs and in the primary bedroom adds a touch of sophistication, while all-new fixtures and custom shutters with faux blinds enhance the home's refined aesthetic. Step outside to enjoy your private oasisa sparkling pool perfect for cooling off on hot summer days. The front and back yards are zero-scaped, providing beautiful, low-maintenance outdoor spaces that are as practical as they are attractive. This home isn't just a place to live; it's a lifestyle upgrade. Don't miss out on this exceptional opportunity, schedule a showing today and experience the perfect blend of elegance and convenience!

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25125 N 171st Lane Surprise, AZ 85387

$614,323

5 Beds

4 Baths

3,185 SqFt

Status Active

MLS # 6762106

Property Type Single Family Residence

Price Type --

MLS#6762106 January Completion! The versatile Victory floor plan at Asante boasts an open-concept design, where the kitchen seamlessly connects to the great room, complemented by a nearby dining area. The first-floor primary suite offers a spacious walk-in closet and a well-appointed bath. The main level also includes a full bathroom, an additional half bath, and a flexible space perfect for a home office or playroom. Upstairs, you'll find secondary bedrooms, a full bathroom, ample storage, and a loft, providing additional space for relaxation or entertainment. Structural options added include; Gourmet kitchen,12' x 8' sliding glass door, paver front porch and walkway, bedroom 5 with bath 4, and garage service door.

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3645 E Decatur Street Mesa, AZ 85205

$614,000

4 Beds

2.5 Baths

2,448 SqFt

Status Active

MLS # 6775556

Property Type Single Family Residence

Price Type --

Discover this beautifully updated home situated on over a quarter-acre lot backing onto a greenbelt in an established Mesa neighborhood, free from HOA constraints. The layout includes a front living room with soaring two-story vaulted ceilings and a fireplace, a dining area with a bay window, and a separate family room boasting another fireplace. The kitchen is equipped with white cabinetry, granite countertops, stainless steel appliances, a pantry, a built-in desk, and a peninsula offering breakfast bar seating. The expansive backyard is an oasis featuring a full-length covered patio with ceiling fans and roll-down shades, a built-in pool and spa secured by a removable fence, ample grassy areas for play, a storage shed, and a spacious side yard with an RV gate and concrete slab. The main floor primary bedroom features double door entry, a tray ceiling, hardwood floors, and an en-suite bathroom with a dual-sink vanity, separate tub and shower, and a walk-in closet. Upstairs, you'll find secondary bedrooms and a full bathroom with double sinks and a tub/shower combination; one bedroom even has double doors leading to a balcony. Additional amenities include plantation shutters, fresh carpeting, one new A/C unit, and an oversized two-car garage with a service door to the backyard.

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917 W Desert Hills Estate Drive Phoenix, AZ 85086

$614,000

3 Beds

2 Baths

1,600 SqFt

Status Active

MLS # 6750600

Property Type Single Family Residence

Price Type --

Looking for trail options to ride your horse from home? This horse property has three desert trailhead options within a mile of the home. This well-maintained, single-owner 3-bedroom, 2-bathroom home spans 1,600 SF on a spacious 1.125-acre lot, offering the perfect blend of rural charm, and modern conveniences. The property features a horse corral, a one-horse mare motel, and a detached 24x14 Tuff Shed/tack room, ideal for a tack room or storage. Situated on a private road with only two other residences, you'll enjoy unparalleled seclusion with an untouched natural desert lot to the north. Breathtaking mountain views and a serene country lifestyle. This move-in-ready home includes a two-car garage and an outdoor water feature that adds a soothing touch to your outdoor space. The open floor plan seamlessly connects the kitchen, dining, and living areas, while the split layout ensures privacy for the master suite. The master bedroom boasts dual sinks, a private toilet, and a tiled walk-in shower. Recent upgrades include a new roof in 2022, a new AC unit in 2017, exterior paint in 2021, and a new septic system in 2023. The home also features all-new windows (except the garage) installed in 2021, New kitchen counter tops, kitchen sink and faucet 2021, and newer appliances including a 2021 refrigerator, built-in microwave, a 2022 dishwasher, and a 2018 washer. The well is a 4 share well. This North Phoenix rural horse property offers the tranquility of country living while being conveniently close to the Carefree Highway, I-17, restaurants, shopping, and other amenities. Horse riding trails into the vast desert is a short 4,000 feet away. Don't miss out on this exceptional opportunity!

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18835 N 16th Place Phoenix, AZ 85024

$614,000

4 Beds

2.5 Baths

2,259 SqFt

Status Active

MLS # 6761517

Property Type Single Family Residence

Price Type --

Welcome to this beautifully updated home in the heart of North Phoenix! This charming property in a gated community, boasts an open, airy layout that fills the space with natural light, enhanced by fresh, modern paint throughout. The kitchen features sleek white cabinetry, creating a clean and inviting space for cooking and gathering. Situated on a large lot, this home offers ample outdoor space, perfect for relaxation or play. From the upstairs bedrooms, enjoy breathtaking mountain views, adding a serene and picturesque backdrop to your daily life. With Mountains and trails just minutes away, this home is an ideal retreat for nature enthusiasts seeking both comfort and adventure.

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9443 W Melinda Lane Peoria, AZ 85382

$612,900

4 Beds

2 Baths

2,684 SqFt

Status Active

MLS # 6734784

Property Type Single Family Residence

Price Type --

Welcome to this beautifully updated single-story home featuring 4 spacious bedrooms and 2.5 modern bathrooms. Step inside to fresh interior paint and new carpeting in the bedrooms, creating a cozy and inviting atmosphere. The open kitchen boasts elegant quartz countertops and brand-new stainless steel appliances, including a microwave, dishwasher, and range, perfect for the home chef. The family room flows seamlessly from the kitchen, providing an ideal space for gatherings and entertaining. Outside, enjoy the sparkling pool, perfect for relaxation and outdoor fun. This home is the epitome of comfort and style, ready for you to move in and make it your own.

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948 N 87th Street Scottsdale, AZ 85257

New

$612,560

3 Beds

2 Baths

1,484 SqFt

Status Active

MLS # 6776414

Property Type Single Family Residence

Price Type --

Wonderful Scottsdale, large cul-de-sac. Entertain at home, or you are moments away from the wonderful downtown & Old Town Scottsdale Art District, Restaurants and Fashion Square Shops. Enter take off your shoes and enjoy the engineered hardwood floor the home. Cook up your favorite meals in this Wide Open Kitchen where all your guests can gather in the large eating area next to the kitchen. Great views from the Kitchen window. Large family room, open courtyard in middle of the home. Master Bedroom view to private garden. Large walk-in tiled shower. Pool fence is remove-able for special occasions. Energy efficient windows 2016. Extra 220 volt outlets for special appliances or work tools. Nice yard with sunrise views. Close to Old Town Scottsdale & Enjoy the wash bike/walk trails, park.

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