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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4065 S Birch Street Chandler, AZ 85249

$609,900

3 Beds

2 Baths

1,722 SqFt

Status Active

MLS # 6769615

Property Type Single Family Residence

Price Type --

Nestled within the prestigious Old Stone Ranch community, this immaculate 3-bedroom residence is a unique blend of sophistication and comfort, eagerly awaiting its next lucky owner. Designed with the utmost care by its original owner, this home welcomes you through an inviting foyer and into an expansive open floor plan that exudes warmth and elegance at every turn. The thoughtful design features ample recessed lighting that dances off lofty ceilings, illuminating the living spaces adorned with chic plantation shutters and artful archways. Enjoy quality family time or movie nights with the in-home audio system, enhancing your entertainment experience. The gleaming hardwood floors extend throughout, leading you to the serene back patio, where indoor and outdoor living beautifully meld. At the heart of this home is a stunning kitchen, a culinary enthusiast's dream. Outfitted with striking granite countertops, stylish tile backsplashes, and rich cabinetry accented with crown molding, this kitchen marries functionality with flair. A convenient pantry and breakfast bar make meals a delight, whether casual or formal. Escape to the primary suite, your personal sanctuary. Indulge in relaxation within the luxurious ensuite, featuring marble countertops and a spa-inspired bath and shower surround. The expansive walk-in closet ensures that elegance and organization go hand in hand. Don't miss your chance to own a masterpiece of design and quality in Old Stone Ranch. Schedule a tour today and embrace the lifestyle that awaits you!

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15333 W Sells Drive Goodyear, AZ 85395

$609,900

4 Beds

3 Baths

3,611 SqFt

Status Active

MLS # 6702222

Property Type Single Family Residence

Price Type --

Situated in the heart of Palm Valley, this beautiful home features more than 3300 sf of space with four bedrooms, three full bathrooms and a separate den/office. The kitchen features granite counters, ss appliances, large island with breakfast bar, double ovens, a huge walk-in pantry, and a breakfast nook. The primary suite is expansive with a gorgeous master bath and walk-in closet. Two of the additional bedrooms are HUGE and feature a ''Jack and Jill'' bath. The guest room is split from the others and is just off the third full bath. A three car garage offers plenty of space for cars, storage, or toys. Close to highly rated schools, shopping, dining, Wigwam Resort, spring training, golf, Goodyear Rec Center, Westgate Entertainment District and more make this a must seem home!

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1193 E Spruce Drive Chandler, AZ 85286

$609,900

4 Beds

2.5 Baths

1,952 SqFt

Status Active

MLS # 6723603

Property Type Single Family Residence

Price Type --

Don't miss your opportunity to own the Builder Model Home with extra designer selections that's ready-to-move-in and the last new home available in the development. Welcome to Willis Commons, a beautiful, private, gated community of only 35 homes with fantastic amenities including Community Clubhouse with fitness room, green spaces, and play park with splash pad. Great Chandler location off the 202 and McQueen Road with nearby Paseo Canal Trail for biking and hikes. Easy access to everything Chandler and Gilbert offer and only 5 minutes from Downtown Chandler. The popular Arcadia plan design features 4 generous sized bedrooms, 2.5 bathrooms, plus 2 car garage. This spacious well thought out 1954 square foot home lives large with great room and features high ceilings & tall doors through- -out. Open kitchen with large island and granite counters include lots of cabinet and pantry storage, plus all stainless appliances included. Owner's suite is on main floor and has spacious attached bathroom with separate tile surround shower and soaking tub as well as a large walk-in closet. Convenient laundry room on the main floor with 3 additional bedrooms upstairs. Lots of architectural character outside and low maintenance size yard. An amazing well-designed new home that is practical yet feels so very luxurious.

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2905 E Norcroft Street Mesa, AZ 85213

$609,900

4 Beds

2 Baths

2,124 SqFt

Status Active

MLS # 6757675

Property Type Single Family Residence

Price Type --

This beautifully maintained home in north Mesa sits on a .25 acre lot with no HOA! As you enter, you will love the updated flooring and open feel. Straight ahead is a large living room with modern fixtures and views of the backyard. To the left, is the eat-in kitchen and the family room. To the right, the owner's suite and 3 additional bedrooms. All cooled with a 2024 5 ton HVAC system! In the backyard, a nice sized pool surrounded by a carefully manicured landscaping. It is the perfect retreat on a hot Arizona day! Located near some of the best schools in Mesa and an easy commute to Sky Harbor and Phoenix. The best part the community is located along the low traffic of Lindsay Rd, promising a quiet refuge.

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1059 W Caroline Lane Tempe, AZ 85284

$609,900

4 Beds

2.5 Baths

2,486 SqFt

Status Active

MLS # 6758794

Property Type Single Family Residence

Price Type --

You'll LOVE this beautiful 4-bed, 2.5-bath home in Tempe Village! Its charm starts with a 2-car garage & a manicured landscape. Be greeted by a welcoming living room & a formal dining room, separated by a graceful archway! Continue onto the inviting family room that opens to the kitchen, allowing a greater traffic flow. The large kitchen has granite counters & backsplash, staggered cabinetry, a huge island, a breakfast nook, and built-in appliances w/cooktop elec. Natural light filled the spaces, complemented by designer paint, tile & wood-look floors downstairs, and plush carpet on the bedrooms upstairs. Main bedroom boasts an ensuite with dual sinks, separate tub/shower, & a walk-in closet. Discover the backyard with a paver-covered patio, artificial turf, & a splash pad! Move-in ready!

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4284 Ponderosa Trail Wickenburg, AZ 85390

$609,721

3 Beds

2 Baths

1,828 SqFt

Status Active

MLS # 6770314

Property Type Single Family Residence

Price Type --

Welcome to the Flourish floor plan in the Homestead neighborhood, a stunning designer home crafted by the Shea interior design team. This 2 bed, 2 bath home features GE Profile electric built-in appliances & brushed nickel accents throughout. Enjoy upgraded framed mirrors & heavy glass enclosures at both baths, along with upgraded quartz countertops & custom tile mosaics. The kitchen boasts full overlay cabinets, cabinet pullouts, under-cabinet lighting, & a 15ft sliding glass wall in the living room. Additional features include upgraded electrical, extended covered patio, 4ft garage extension, $23k in tile flooring, & nearly $30k in custom landscaping. Visit the Shea sales office for current incentives.

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9214 W Kerry Lane Peoria, AZ 85382

$609,700

3 Beds

2.5 Baths

2,258 SqFt

Status Active

MLS # 6757552

Property Type Single Family Residence

Price Type --

Golf course gem fully renovated with nicest touch of art and harmony. 2258 square feet, 3 bed 2.5 bath gorgeous home backing to golf course with infinite beautiful views. This home has 2 car garge, room for golf cart storage, covered patio, fireplace. It's been loved from top to bottom.

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3221 W Kristal Way Phoenix, AZ 85027

$609,500

4 Beds

2.5 Baths

2,306 SqFt

Status Active

MLS # 6752650

Property Type Single Family Residence

Price Type --

This beautiful home has a North/South orientation on a large corner lot in the all-one-story Country Ridge neighborhood. A delightfully green back yard features a large covered patio and an open patio adjacent to a Pebble Tec play pool. The family room/kitchen/breakfast area is the center for entertaining friends. .A very large granite counter provides lots of serving space for indoor/outdoor parties. The formal living room and dining room give you that special location for holiday fun. You will be comfy cozy on those chilly winter evenings and you will have No Problem with those ''no burn days'', because the fireplace has a gas log set and an owned propane tank. The walk-in pantry has full shelves and is a room of it's own. The kitchen is a gourmet's delight with pull-outs in the base cabinets and loads of luxurious granite counter space. There is a High Definition Broadcast TV Antenna installed and ready to receive local channels for FREE. An extended Three Car Garage has two garage door openers, an epoxy coated floor, painted walls & ceiling shelf & cabinet storage AND Air Conditioning and Heat from a mini split system. The carport provides covered parking for a fourth car. The deep garage gives you lots of shop space and when you combine this with the bonus covered work area that is adjacent to the car port, you have a dream setup for hobbies, gardening, auto maintenance/restoration or whatever your heart desires. There are multiple Charter, Private and Public educational choices for your children within walking distance. The neighbors are great, the street has very little traffic and the freeway is just a few minutes away. Commuting to downtown Phoenix, the Scottsdale Airpark Area or the Taiwan Semi Conductor Campus are all within easy reach. Welcome Home!

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4585 San Cristobal -- Sierra Vista, AZ 85635

$609,000

4 Beds

3 Baths

2,629 SqFt

Status Active

MLS # 6736231

Property Type Single Family Residence

Price Type --

Welcome to 4585 San Cristobal! This beautiful custom home is perfect for those who love to entertain. The spacious great room is perfect for gatherings of all kinds, and the formal dining room is ideal for more intimate occasions. The kitchen is a chef's dream, with granite countertops, stainless steel appliances, and a walk-in pantry. The master suite includes a large walk-in closet, dual sinks in the bath, and an oversized tub. The 4th bedroom would make a great in-law suite or guest quarters, it is split and has its own bathroom. Need a 5th bedroom? This plan has also been built with a 5th bedroom where the formal dining room is located! The large, covered patio at the back of the house is the perfect place to sit and enjoy your morning coffee decompress at the end of the day. The four-car attached garage with built-in storage shelves and extra workspace is perfect for the hobbyist or car enthusiast. Come see everything this amazing home has to offer today!

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7527 E Elderberry Way Gold Canyon, AZ 85118

$609,000

4 Beds

3 Baths

1,900 SqFt

Status Active

MLS # 6753890

Property Type Single Family Residence

Price Type --

Welcome to your new AZ home! Everything is here (except your personal belongings & items to fill kitchen cupboards). 3 bedroom (split floorplan) & 2 bath home has ALL the furniture & appliances included PLUS comes with a 1 bedroom / 1 bath casita with it's own entrance making it a total of 4 bedrooms/3 bath home. Owners have been diligent about upgrading & maintaining their winter home(used approx. 3 months a year). Kitchen has granite counters & newer appliances. Garage has built in cabinets, sink, overhead storage racks, water softener, & epoxy flooring. Enjoy the gas fireplace on those chilly nights or mornings, and when outdoors, enjoy entertaining outdoors by the gas firepit , cooking by the grill, or just enjoying the view. List of improvements in document section.

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13050 W Hummingbird Terrace Peoria, AZ 85383

$609,000

2 Beds

2 Baths

1,874 SqFt

Status Active

MLS # 6771849

Property Type Single Family Residence

Price Type --

This Pristine SOLAR Libertas floor plan is located on an EXTREMELY PRIVATE corner lot! You're welcomed w/ beautiful curb appeal, PAVER DRIVEWAY & charming front courtyard!! Notice the pride in ownership once you step foot in this home & admire the UPGRADES and CUSTOM touches!! The REDESIGNED KITCHEN is STUNNING - the NEW ISLAND DESIGN & GRANITE is a show-topper!! Kitchen features stunning RAISED PANEL CABINETRY that is staggered w/ larger crown, new SUBWAY TILE BACKSPLASH, Built-in SS GAS APPLIANCES & a CUSTOM PANTRY w/ Beverage Fridge!! Beautiful, oversized tile installed in all the right areas!! Both Baths are UPGRADED to the HILT w/ CUSTOM FINISHES!! Backyard is an extension to the home - MASSIVE COVERED PATIO w/ EXTENDED PAVERS, Built-in BBQ w/ Bar, GAS Firepit, water feature & Lush, green landscaping - WOW!! Add'l upgrades: 4' GARAGE EXTENSION w/ Epoxy & Cabinets, PLANTATION SHUTTERS, CROWN MOLDING, SINK & Storage in laundry room, BAY WINDOW in Master, custom closet at Master, soft water, RO, Den with DOUBLE DOORS & upgraded fans & lighting thru-out! This home is a gem - don't miss the opportunity to call this HOME!! Majority of furniture available on separate Bill of Sale.

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18627 N 43rd Place Phoenix, AZ 85050

$609,000

3 Beds

2.5 Baths

1,963 SqFt

Status Active

MLS # 6776064

Property Type Single Family Residence

Price Type --

Must see this spacious yet charming updated home featuring heated spa/pool and solar (owned not leased) on a cul de sac lot. This desirably situated North Phoenix Home has so many updates including Kitchen w/Stainless Steel Appliances including Refrigerator, Countertops, Breakfast Bar, Sink, Faucet, Remodeled Baths w/Tiled Shower Surrounds, Oil Rubbed Bronze Fixtures, Designer Mirrors, Countertops, Sink Bowls, Faucets, Hardware, Light Fixtures, Fireplace, Ceiling Fans w/Lights, Washer & Dryer Included. The beautifully updated backyard recently had $35k spent on the pool/heated spa & cool decking and is perfect for entertaining. You'll love the mountain view from the backyard and master bedroom. Close to everything - High Street, Desert Ridge, Kierland, Scottsdale Quarter, PV Golf, Reach 11 park, CREST. EZ freeway access to 51 & 101. Don't miss it before its gone.

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