NAR Data Shows Now Is a Great Time to Sell!

NAR Data Shows Now Is a Great Time to Sell! | Simplifying The Market

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).

NAR Data Shows Now Is a Great Time to Sell! | Simplifying The Market

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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10728 E Monterey Avenue Mesa, AZ 85209

$628,000 - 3Br/3Ba -  for Sale in Mulberry, Mesa
New
$628,000
3 Beds
3 Baths
2,277 SqFt
Status Active
MLS # 6767540
Property Type Single Family Residence
Price Type --
Welcome to Mulberry, a master-planned community that EVERYONE falls in love with. It's almost like an enchanted land - magically reminiscent of the early 1900s when homes created quaint neighborhoods w/ front porches.The home offers pride of ownership on a premium private lot. Open floor plan with a great room concept. Chef's kitchen offers upgraded cabinets, island, granite countertops, SS appliances, custom pendant lighting. Informal dining all open to the great room w/ large slider overlooking the beautiful backyard. Private owners suite walk in closet. Master bath offers: soaking tub & huge walk in shower. All secondary BR's are good size with 2 full baths. Shutters throughout home. Backyard offers putting green, covered patio and lush landscaping. Newer exterior paint. Three car garage with over head storage. Mulberry amenities include sport courts, playgrounds, two pools, fitness, multipurpose room, a huge event lawn, and a Lifestyle program. Adjacent to the community, Desert Ridge Junior and High Schools, as well as two elementary schools, are all part of the top-rated Gilbert School District. The 202 San tan and US 60 Superstition Freeways are each within approximately 1.8 miles of Mulberry. Mesa's tech corridor, expected to provide thousands of job opportunities, lies just one mile south. Within a mile find major shopping, dining, and entertainment. Come see this perfect home.

1240 E Kramer Circle Mesa, AZ 85203

$628,000
4 Beds
2 Baths
2,318 SqFt
Status Active
MLS # 6766889
Property Type Single Family Residence
Price Type --
This spacious floor plan features a living room and dining room, along with a separate family room. The fabulous open kitchen includes an island and pantry, perfect for all your cooking needs. The large master bedroom boasts an expansive master bath with a separate shower, and there's also a dedicated laundry room. The extended cabinets in the kitchen provide ample storage space for your cookware and countertop appliances. The backyard is an entertainer's dream, complete with a Pebble Tec pool/spa, a water feature, a covered patio, and numerous upgrades. Experience resort-style living in this beautiful gated community!

11329 E Savannah Avenue Mesa, AZ 85212

$628,000
4 Beds
2.5 Baths
3,080 SqFt
Status Active
MLS # 6745817
Property Type Single Family Residence
Price Type --
You will fall in love with this huge corner lot property that exhibits pride of ownership in East Mesa. Notice the fantastic curb appeal and easy to maintain and beautiful landscaping. It has separate living & family rooms and either tile or wood flooring throughout.Kitchen offers upgraded cabinetry with a ton of storage space, gas cook top stove, wall ovens, island with breakfast bar, &granite countertops. The laundry has extra cabinets & sink. There are 4 spacious bedrooms, 2.5 baths, and fantastic loft. In the primary bath there is a garden tub, separate shower, walk-in closet, and private toilet room. The backyard is an oasis with covered patio and swimming pool. Meticulously maintained home by original owners. New Roof, paint, laminate floors in 2024. A/C units routinely maintained.

3357 E Derringer Way Gilbert, AZ 85297

$627,900
4 Beds
2.5 Baths
2,834 SqFt
Status Active
MLS # 6765583
Property Type Single Family Residence
Price Type --
Location, Location! Stop and take a look!! You'll love the new floors (installed in 2024). In addition to all of this, the home features an impeccable eat-in kitchen, great room, and formal living room. Enjoy afternoons in the beautiful backyard with a covered patio, cozy firepit, and sparkling pool. This is a value you won't want to miss!

20951 E Via Del Sol Street Queen Creek, AZ 85142

$627,777
4 Beds
3 Baths
2,222 SqFt
Status Active
MLS # 6729504
Property Type Single Family Residence
Price Type --
WOW- PRICE REDUCED $7,500. IN ADDITION, SELLER CONSESSION AVAILABLE TOWARDS CC OR RATE BUYDOWN with Rates As Low As 3.875% when Financing Thru Builder's Preferred Lender(s). Located close to Queen Creek Marketplace Shopping, Dining & Entertainment, this Community has Parks, Soccer Field, Basketball Courts, & 8-Mile Walking Trail. This Beautiful Cul-de-sac home has Primary Suite & Bedroom 4 on Lower Level with 2 Bedrooms Up! White Shaker 42'' Cabinets with Gourmet Stainless Gas Cooktop, Double Wall Ovens w/Microwave. Quartz Kitchen Countertop, Tiled Kitchen Backsplash, Tiled Extended Shower at Primary Bath, Plank Tile Flooring, Stainless Side-by-side Refrigerator, Washer, Dryer & Window Blinds Included! Don't Wait, Come See This Home Today

15029 W Minnezona Avenue Goodyear, AZ 85395

$627,500
4 Beds
2.5 Baths
3,368 SqFt
Status Active
MLS # 6755950
Property Type Single Family Residence
Price Type --
WOW. SELLER WILL GIVE $10,000 CREDIT TO THE BUYER AT CLOSING, and wow FULLY paid off and OWNED SOLAR and solar heated pool! HUGE SAVINGS! This LUXURY retreat home features countless upgrades: highly upgraded engineering wood flooring, mini-split A/C units in the garage, a Tesla charging station, and custom finishes at every turn!!! This exceptional home greets you with lush desert landscaping, creating a serene and inviting entrance. Once inside, you're welcomed by soaring ceilings that open up the space and create a bright, airy atmosphere. The seamless flow between the expansive living and family rooms is perfect for gatherings and entertaining, offering plenty of space for relaxation. The heart of the home is the chef's kitchen, designed to impress with granite countertops, a large center island, a convenient breakfast bar, and sleek black stainless steel appliances. The 42'' cherry cabinets add a touch of elegance and provide ample storage. The first-floor master suite is a luxurious retreat, featuring real wood flooring that adds warmth and character. The remodeled bathroom boasts an oversized shower, creating a spa-like experience. Backyard is a true OASIS!! Outdoor living is equally impressive, highlighted by a grand 8'x6' stone fireplace, perfect for cozy evenings under the stars. Whether hosting or relaxing, this home offers both style and practicality for modern living. The 3 car garage is super spacious, every owner's dream!! This home is a MUST SEE!!

22214 N Tournament Drive Sun City West, AZ 85375

$627,500
2 Beds
2.5 Baths
2,910 SqFt
Status Active
MLS # 6750481
Property Type Single Family Residence
Price Type --
This highly desirable Scottsdale model is an open floorplan. The coffered ceiling and plantation shutters throughout give it understated elegance. The primary suite has an oversized bathroom with dual sink vanities, a massive walk in shower plus a jacuzzi tub. The second bedroom has a private bathroom. There is also a den/office. The kitchen opens to family room that features a built in gas fireplace. The kitchen has 2 islands, gas range, double ovens & tons of storage. There is a convenient half bath right off the entertaining area for guests. Guests can spill out into the enormous enclosed patio, as well as the open patio, while hosting & entertaining. The 2.5 car garage gives that perfect space for the golf cart. Roof underlayment #30 LB in 2024. PAINT color appears darker in photos.

4109 W La Mirada Drive Laveen, AZ 85339

$627,490
4 Beds
3.5 Baths
2,783 SqFt
Status Active
MLS # 6770200
Property Type Single Family Residence
Price Type --
PHOTOS ARE OF MODEL HOME! Our beautiful Willow plan features a large open great room, and has luxury features like our Chef platinum package including Chef Kitchen, Quartz counter tops , Sonoma Maple Linen (White) cabinets, and 8 x 36 tile flooring. This beautiful home has 4 bedrooms plus a Game Room, 3.5 baths, and a 3 car garage. A copy of the public report is available on the Arizona Department of Real Estate's website.

9416 S 46th Street Phoenix, AZ 85044

$627,000 - 3Br/2Ba -  for Sale in Pointe South Mountain Unit 6 Amd, Phoenix
Open House
$627,000
3 Beds
2 Baths
1,747 SqFt
Status Active
MLS # 6758376
Property Type Townhouse
Price Type --
ALL-NEW BEAUTIFUL COMPLETE RENOVATION AT THE POINTE!! LifeStyle at The Pointe South Mountain!!! Indulge in the pinnacle of serene luxury living in this exquisite home offering breathtaking mountain and golf course views within the lush and prestigious Mediterranean-inspired Pointe South Mountain community. The visionary Gosnell architecture is immediately breathtaking as you walk in. Enjoy the majestic palms and enchanting lantern-lit evenings while watching the Pointe Resort fireworks from your own backyard with huge beautiful DIVING POOL!, nestled against the serene South Mountain Preserve, with its inviting Pima Canyon Trailhead just a short walk from your door. This hidden gem in The Pointe is nestled on the most sought-after and tranquil cul-de-sac, radiating (read more) ...charm both inside and out. Featuring 3 bedrooms, 2 baths, a 2-car garage and a glorious resort-style feeling... Your home is waiting for you with its stunningly unique living space and an elegant formal dining area. The vaulted ceilings and high clerestory windows enhance the spacious ambiance, complemented by plantation shutters, flowing natural light, and stylish wood-look flooring throughout. Cozy up by the fireplace in the delightful kiva nook for a martini or a book...or both! JJ Completely upgraded everywhere you look! The bright kitchen is a chef's dream, equipped with all-brand-new stainless steel appliances, sleek quartz countertops, a vertical tile backsplash, ample cabinetry and a breakfast bar peninsula. The primary bedroom boasts a sparkling ensuite with all-new dual sinks and a gorgeous large walk-in shower. The bright front bedroom offers plantation shutters and a generous walk-in closet. Step outside to your entertainer's paradise: a backyard featuring a covered patio, pavers, lush lawns, and a sparkling pool. Every detail exudes WOW! This home is an opportunity not to be missed. Experience the perfect blend of elegance, comfort, and unparalleled beauty. Hurry, this masterpiece won't last long!

7683 W Avenida Del Rey -- Peoria, AZ 85383

$626,940
4 Beds
3 Baths
2,219 SqFt
Status Active
MLS # 6680063
Property Type Single Family Residence
Price Type --
Brand new community in North Peoria! Stunning 4 bedroom/ Guest Retreat / 3 full bath home with 2.5 car tandem garage located at the Retreat at Aloravita. This home includes professionally designed features and finishes. The kitchen includes beautiful white quartz countertops, tile backsplash, stainless steel gas appliances and white shaker style cabinets. Upgraded woodplank style tile flooring. Cultured marble tops at baths. 8' doors with upgraded hardware and the home is ''Energy Star'' for remarkable comfort, energy efficiency and environmental sustainability.

4780 W Flat Iron Court San Tan Valley, AZ 85144

$626,432
4 Beds
3 Baths
2,665 SqFt
Status Active
MLS # 6772329
Property Type Single Family Residence
Price Type --
Lovely new 4-bedroom home in Queen Creek, offering a spacious and welcoming floor plan, 3 bathrooms, an attached 3-car garage, and so much more! The Executive Kitchen features double ovens, designer selected backsplash, quartz countertops, a multi panel sliding glass door, and a Blanco Diamond kitchen sink. Other highlights of the home include white cabinets with 42'' uppers, wood look tile and upgraded carpet, and a separate tub and shower with an enlarged tub. The exterior of the home features pavers at the driveway and front porch as well as a gas line to the back patio!

10027 W Verde Lane Avondale, AZ 85392

$626,261
5 Beds
3 Baths
2,581 SqFt
Status Active
MLS # 6752647
Property Type Single Family Residence
Price Type --
Find your dream home at Acclaim-a Fulton homes master planned community! The North Bend is a fantastic single story home with a private primary suite and four spacious guest bedrooms. Beautiful gourmet kitchen with separate nook and a spacious great room with a 16' atrium door that opens to the covered patio. Exclusive features include 10' ceilings, 8' doors, paver driveways and much more. Fulton homes are ''Zero Energy Ready'' and include tankless water heaters, spray foam insulation, electric vehicle ready and pre plumb for solar installation. Residents enjoy a community pool, basketball courts, pickle ball courts, sand volleyball, bocce ball, greenbelts and children's playgrounds. Buyer can upgrade appliances at additional cost. Estimated completion-12/2024

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