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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3622 E Columbine Drive Phoenix, AZ 85032

$624,900

4 Beds

2 Baths

2,098 SqFt

Status Active

MLS # 6772794

Property Type Single Family Residence

Price Type --

Beautiful Slump Block Ranch home in Roadrunner Estates. Corner Lot and elevated! This lovely home is just waiting for it's new owners to create endless memories. The home has been freshly painted inside and out, and also boasts a new roof and newer A/C and newer dual pane windows and a 2 car garage. Open layout that offers endless possibilities and offers great living spaces. Can you say location? The location is steps away from Roadrunner park and just minutes away from the new reimagined PV Mall Development that will offer so many options for dining and shopping. Imagine walking to the famers market on Saturday or just biking around the park or feeding the ducks at the pond. Desert landscape in front and a great backyard with grass in the back. Home is Turn-Key so Hurry Hurry!!

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10060 E Tumbleweed Avenue Mesa, AZ 85212

$624,900

3 Beds

2 Baths

1,953 SqFt

Status Active

MLS # 6762798

Property Type Single Family Residence

Price Type --

Popular London Model with 2 bed /2 bath, den, & stunning pool/backyard! One of the most extensive upgraded homes in Encore at Eastmark. High end 24x24 porcelain tile throughout home. Upgraded kitchen package with extended upper & lower cabinets. Upgraded tone toned quartz on island, countertops, and backsplash. No culture marble showers here! High end upgraded bathrooms with tile surrounds to ceiling, deco band, niche, and large sitting bench in oversized walk-in shower. Refreshed Kool deck and 2-stage pool pump in 2022. New exterior paint in 2024. Enormous multi slide back yard patio door with retractable screen. Extended covered patio with semi-custom BBQ grill/Firepit, and bar. Custom blinds in primary room, high end security screen door, as well as ring doorbell/cameras. LOOK see Custom cabinetry in the garage, spacious laundry, and mudroom. Amenities galore in Encore to keep you entertained year-round. A major appeal of this 55+ community is its luxurious clubhouse that offers residents a rich lineup of exclusive indoor and outdoor resort-style amenities for a vibrant and active lifestyle. The 15,000 square-foot Encore Club is the central hub of physical activity and social recreation. It features state-of-the-art facilities such as a fitness center with weights, a cardio room, as well as an aerobics and dance studio where residents can stay in shape without paying expensive gym membership fees. Homeowners can freshen up in the locker rooms and then meet up with friends in the internet café, billiards, or banquet room for some fun. The Encore Club also has a classroom, arts and crafts studio, and library, which is perfect for residents who want to learn or explore a new hobby. They can swim laps in the resort-style pool or relax in the adjacent spa. Residents who want more recreation or a challenging game can play on one of the sports courts provided, including tennis, pickleball, and bocce ball. An event lawn is the perfect place to attend a social function, and the playground is a great spot to spend time with the grandkids when they come to visit. The community is surrounded with parks and natural space as well as miles of meandering walking and biking trails that are ideal for leisurely strolls or brisk jogs. With so many top-notch amenities, residents are sure to stay busy and active throughout the week. In addition to these world-class amenities, the Encore Club also hosts a full calendar of social events, fitness classes, daily activities, social clubs, and special interest groups. An on-site activities director is also available to help plan, organize, and develop new activities, hobbies, trips, and events that allow residents of the community to explore new interests and bond with other like-minded adults. Encore at Eastmark is an active adult community that promotes a vibrant and welcoming lifestyle that retirees will love in Mesa, Arizona.

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200 Moons View Road Sedona, AZ 86351

$624,900

2 Beds

2 Baths

1,824 SqFt

Status Active Under Contract

MLS # 6691061

Property Type Single Family Residence

Price Type --

Welcome to your dream retreat in the heart of the enchanting Sedona red rocks! This two bed two bath home with two car garage is nestled amidst the stunning landscapes and vibrant energy that Sedona is world renowned for. Enjoy breathtaking, unobstructed views of Sedona's iconic red rock formations from the comfort of your own home, or from the large fully enclosed Arizona bonus room. Nestled just off the 11th hole of the Oak Creek Country Club Golf Course, this traditional Sedona style home is located in a quiet Oak Creek neighborhood, yet close to all the amenities the Village of Oak Creek has to offer - hiking, biking, Oak Creek, shopping, golf and world class dining. Start your Sedona journey today!

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8638 E Palm Lane Scottsdale, AZ 85257

$624,900

3 Beds

2 Baths

1,470 SqFt

Status Active

MLS # 6737598

Property Type Single Family Residence

Price Type --

Freshly updated and just a short drive to Old Town. Large open floor plan. The Farm House Modern style immediately makes you feel at home. Kitchen and laundry room appliances come included. Large pool surrounded by grass. Automatic irrigation. No HOA. Currently has tenants in place for the next 7 months, they are open to continuing lease or ending the lease early as well for an owner/ occupant buyer.

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2560 N Lindsay Road Unit 66 Mesa, AZ 85213

$624,900

4 Beds

3 Baths

2,151 SqFt

Status Active

MLS # 6763255

Property Type Single Family Residence

Price Type --

SELLER IS OFFERING BUYER CONCESSIONS with a competitive offer!! This beautifully remodeled 4-bed, 3-bath home in Mesa is a must-see! Designed by the renowned Maverick Design, the home boasts modern elegance throughout. The primary bathroom is a true showstopper with a brand-new floor-to-ceiling tiled walk-in shower, featuring double shower heads for a spa-like experience. The spacious kitchen is perfect for the home chef, complete with new stainless steel appliances and stunning granite countertops. Downstairs, the finished basement offers a private retreat with its own bedroom and full bathroom. The home is outfitted with new luxury vinyl floors and upgraded baseboards, adding a touch of sophistication. Two brand-new HVAC systems ensure year-round comfort!!

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27187 W Mohawk Lane Buckeye, AZ 85396

Open House

$624,900

3 Beds

3 Baths

2,452 SqFt

Status Active

MLS # 6773872

Property Type Single Family Residence

Price Type --

A STUNNING VERANDA Model offering an abundance of upgrades on an oversized 9,656 sq ft Walled PRIVATE lot!! This Artistically Appointed 2,452 sq ft home has a split 3-Bdrm Floorplan, 2.5 Bath, Den and Large Gathering Room! Designer Features include a Gourmet Kitchen w/ Upgraded Staggered Cabinets, Gleaming 'Indian Parana' Granite, Custom Backsplash, Center Island, Eating Bar, and newer S/S Appliances! Upgraded Kohler Light fixtures, Custom Paint and Window Coverings grace the home. Gathering Room includes Entertainment Center with Samsung 65'' TV. French Doors from guest bdrm to the patio! The 3-Car Garage includes custom built-in Cabinets & Work Bench. 2010 EZ-GO GOLF CART IS INCLUDED! Newer 5-Ton A/C and PAID SOLAR! Enjoy entertaining in this IMPRESSIVE PRIVATE Backyard with Pergola Covered Extended Patio, BUILT-IN Heaters, Magnificent Water Feature and ELEVATED Seating Area with Natural Gas Firepit! Too amenities to list!! This floorplan is no longer offered. If you are looking for something EXCEPTIONAL, this is the home for you!

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1728 N 156th Drive Goodyear, AZ 85395

Open House

$624,900

4 Beds

2.5 Baths

2,916 SqFt

Status Active

MLS # 6729548

Property Type Single Family Residence

Price Type --

Discover Your Dream Home in Palm Valley! Professional home inspection already completed!!!! Welcome to your new haven! This stunning, highly upgraded home in Palm Valley is a true gem, offering over $160k in luxurious enhancements. Perfectly situated close to all the vibrant attractions the Goodyear area has to offer, this home is designed for those who seek both comfort and sophistication. Key Features: Spacious Living: With 4 bedrooms and an additional 12x18' (approximate) flex room, this home offers ample living space. The large flex room with custom barn doors is perfect for an office, media room, or playroom. Elegant Interiors: Enjoy the beauty of 12x24'' plank tile flooring and 10' ceilings throughout the home. MORE ... Gourmet Kitchen: The heart of the home features oversized granite countertops, double ovens, a gas cooktop, abundant cabinet space, a walk-in pantry, and stainless steel appliances (including a new dishwasher, disposal, and microwave). The large dining nook with padded bench seating for 12 is perfect for entertaining or large gatherings. Luxurious Master Suite: The master retreat boasts bay windows, a master bath with a tiled shower, a double full-mirrored door to the closet, an oversized tub, granite counters with double sinks, and a custom-designed walk-in closet. Thoughtful Layout: A split floor plan ensures privacy with 2 additional bedrooms featuring walk-in closets and a connected Jack & Jill full bath. Functional Spaces: The laundry room offers ample counter space and cabinetry. Two solar skylight tubes brighten the front entry and living space. A metal security front door adds an extra layer of safety. Garage & Driveway: The garage includes a 2-foot extension, epoxy flooring, ceiling storage racks, an extended paver driveway, and custom cabinetry. Desert oasis on an Expansive Lot: Nestled on a large 10,000+ square foot fully landscaped corner lot in a cul-de-sac, across from a large park. Backyard Paradise: Ideal for entertaining, the backyard features an above-ground hot tub, a spacious covered patio, travertine decking, paver sidewalks, a raised garden area, gas stub, solar and custom lighting, an oversized gate, and a two steel cactus including a saguaro cactus that light up at night. This home is meticulously designed to pamper its new owners both inside and out. Some furnishings may be available for purchase outside of closing. Don't miss the chance to make this exquisite property your own. Step into your dream home today!

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1002 E Pierson Street Phoenix, AZ 85014

Open House

$624,900

4 Beds

3 Baths

1,631 SqFt

Status Active

MLS # 6751474

Property Type Single Family Residence

Price Type --

MAIN HOUSE 3 bedroom/2 bath. GUEST HOUSE 1 bedroom/1 bath with a seperate entrance and backyard. The MAIN HOUSE and the GUEST HOUSE are on seperate water meters and electric meters. You'll love the delightful interior of MAIN HOUSE enhanced with soothing paint tones, ceiling fans, beautiful wood-style flooring, & recessed lighting. The impeccable kitchen has sleek SS appliances, captivating quartz counters, matte black wood cabinetry, & a peninsula w/breakfast bar. Primary bedroom offers an immaculate ensuite w/dual sinks, a step-in glass shower, & a walk-in closet. . Take advantage of the updated GUEST HOUSE comes with a sizable living/dining room, a kitchenette, a bedroom, & a bathroom. Out the back, you have a covered patio & a pergola, which are excellent for relaxation.

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25742 N 103rd Drive Peoria, AZ 85383

$624,500

3 Beds

2 Baths

2,172 SqFt

Status Active

MLS # 6760450

Property Type Single Family Residence

Price Type --

Amazing View lot with all the incredible features you dream of! To start, you enter into this home with soaring 10-foot ceilings, then into the large open kitchen with an entertainers Granite countertop, stainless appliances, 16 Inch tile throughout, gas fireplace, large family room, extended covered back patio looking out over the horizon and awesome mountain views! Split floorplan with very private master Suite with exit onto the patio, Garage is extended with a service door leading to an RV parking area and RV gates. This is a well sought after community in the Peoria public school district, and only a few miles of Several National Acclaimed Charter Schools. Easy access to loop 303-I-10 AND the 101. This home is a MUST SEE!! Don't miss your opportunity 2 Own this one!

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494 S Soho Lane Unit 5 Chandler, AZ 85225

$624,000

4 Beds

3.5 Baths

2,039 SqFt

Status Active

MLS # 6733790

Property Type Single Family Residence

Price Type --

Welcome to the epitome of luxury patio home living at Parkside Villas in Chandler, Arizona! Step into a world of elegance and comfort with our spacious floor plans boasting generous living areas and luxurious kitchens. With 9 foot ceilings on the main floor, natural light floods in, creating a bright and inviting ambiance perfect for any occasion. Choose from our 3 or 4 bedroom layouts, each featuring 3 ½ baths for optimal convenience. Our gourmet kitchens are the heart of the home, seamlessly opening to the family room, making entertaining a breeze. Indulge in upgraded cabinetry, sleek quartz countertops, and top-of-the-line stainless steel appliances throughout, elevating your culinary experience. Relax and unwind in your own private outdoor patio area, where cozy evenings await.

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1467 County Rd 3140 -- Vernon, AZ 85940

$624,000

3 Beds

2 Baths

2,840 SqFt

Status Active

MLS # 6750877

Property Type Single Family Residence

Price Type --

LOCATION, LOCATION, A Hunters Dream. gorgeous 5 acres border national forest with lots of ponderosa pines. QUIET area and great VIEWS from 2nd story, Kitchen for a chef- large cabinets (lights top & bottom), double ovens, freezer, and large pantry with electric outlets, Handicap accessible-doors & hallway. Enjoy the fresh air with Double hung windows. Grow your own vegetables in the greenhouse and use the chicken pen for your eggs. Also enjoy 7 apple trees, blackberries, rhubarb and so much more. Two car garage (fits 2 large trucks) or for your toys. No HOA. 20 degrees cooler than Phx. Act fast before this gem is gone. Want another 5 ac next to this? see MLS #6756610.

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18214 W Medlock Drive Litchfield Park, AZ 85340

$624,000

4 Beds

2.5 Baths

3,031 SqFt

Status Active

MLS # 6769264

Property Type Single Family Residence

Price Type --

Beautiful 4-bedroom home in Azure Canyon! Its charm starts with a mature landscape, 4 car garage, & a private courtyard. Home exudes elegance with chic light fixtures, a neutral palette, tons of natural light, and tile & plush carpet t/out. Just off the front entry, you'll find a formal dining room & a versatile den. The large living room perfectly flows onto the gourmet kitchen, making entertaining a bliss! Granite counters, a walk-in pantry, a large island, espresso cabinetry, a cozy nook, and SS appliances w/cooktop gas make up the culinary space. Primary bedroom has an ensuite with dual sinks & a walk-in closet. Laundry room with cabinetry & storage closet. You'll LOVE the north-facing backyard with a covered patio, well-laid pavers, artificial turf, & mountain views! Just WOW!

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