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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1568 Pine Canyon Drive Happy Jack, AZ 86024

$624,000

4 Beds

3 Baths

2,374 SqFt

Status Active

MLS # 6751042

Property Type Single Family Residence

Price Type --

**Motivated Seller - Remarkable Price Drop!**Discover an incredible opportunity with this stunning forest cabin in the heart of Happy Jack! This serene mountain sanctuary combines rustic elegance with modern convenience, offering a unique retreat in a breathtaking natural setting. As you arrive, you'll be captivated by the picturesque surroundings, framed by towering pines and the refreshing essence of mountain living. Step inside to find a spacious open floor plan designed for both relaxation and entertaining. The inviting living area features a striking stone fireplace, perfect for cozy gatherings, and large windows that showcase panoramic views of the lush forest, filling the space with natural light and tranquility.The well-appointed kitchen is a culinary dream, equipped with fabulous appliances, expansive countertops, and custom cabinetry that blend functionality with style. The central island provides additional prep space and casual seating, making it an ideal spot for family and friends to gather. Adjacent to the kitchen, the dining area offers a delightful setting for meals, enhanced by the picturesque backdrop of nature.This home includes multiple generously sized bedrooms, with the master suite serving as a luxurious retreat. This private haven features an en-suite bathroom and direct access to the front deck, where you can start your day with fresh mountain air and scenic views. Each additional bedroom is thoughtfully designed to ensure comfort and privacy, making it easy to accommodate family and guests. The exterior of the property is equally impressive, featuring a beautifully landscaped yard and a spacious decks perfect for outdoor living and entertaining. Whether hosting barbecues or enjoying a quiet evening with your favorite glass, this outdoor space is ideal for creating lasting memories. Additionally, the home offers versatile spaces suitable for remote work or creative projects, along with a large laundry room and ample storage options to meet all your needs. Located in the coveted Blue Ridge area, you'll have convenient access to a wealth of outdoor activities, including hiking, fishing, and exploring the region's natural beauty. This Pine Canyon cabin is more than just a home; it's a lifestyle opportunity. Whether you're seeking a peaceful year-round residence or a seasonal escape, this mountain retreat provides an unparalleled combination of comfort, beauty, and tranquility. Plus, the adjacent lot is also available for sale, giving you the chance to create your own pine paradise. Don't miss out on this extraordinary Happy Jack gemsome see it today to experience the exceptional living that awaits you before its too late! Reach out to the listing agent or your personal realtor to hear more about the Blue Ridge cabin!

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30317 W Roosevelt Street Buckeye, AZ 85396

$624,000

3 Beds

2 Baths

1,659 SqFt

Status Active

MLS # 6730388

Property Type Single Family Residence

Price Type --

Welcome home to this 3 bedroom, 2 baths, horse property nestled on an over 1-acre lot! Inside, you will be welcomed by the striking vaulted ceilings, tile flooring, Y neutral palette. The spacious great room enjoys plenty of windows & backyard access for a bright and airy entertaining experience. The eat-in kitchen features plenty of wood cabinets w/crown mouldings, SS appliances, granite counters, & a peninsula w/breakfast bar. Have a great night's sleep in the main bedroom boasting soft carpet & an ensuite w/dual sinks & a walk-in closet. The sizable backyard provides a relaxing covered patio storage shed, above-ground spa, corral & stalls for horses. Lighted riding arena with an RV plug. Do not miss this vast lot, perfect for all your projects or RV parking. Don't wait til its too late

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4121 E Edgemont Avenue Phoenix, AZ 85008

$624,000

3 Beds

2 Baths

1,686 SqFt

Status Active Under Contract

MLS # 6755268

Property Type Single Family Residence

Price Type --

Welcome to this charming ranch-style home located just outside the highly desired Arcadia Osborn neighborhood. This home features the timeless benefits of classic brick construction and has been meticulously maintained over the past 20+ years. The pride of ownership is palpable from the moment you step onto this 10,000 sq ft irrigated lot. The exterior includes an extended brick patio for entertaining, lush lawns, mature trees (including two fruit trees), and vibrant shrubs. Inside, enjoy an airy, move-in ready space with multiple living areas. Its central location offers easy access to shopping, dining, the airport, and freeways. This is one you won't want to miss —come view today!

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23224 W Hilton Avenue Buckeye, AZ 85326

$624,000

3 Beds

2 Baths

2,343 SqFt

Status Active

MLS # 6660516

Property Type Single Family Residence

Price Type --

OWNERS ARE ASKING AGENT TO REMIND PLEASE DO NOT CALL THEM, THEY ARE NOT MOVING AND DO NOT WANT SOLISITATION FROM INVESTORS OR AGENTS. OWNERS ARE STAYING IN THE HOME. PLEASE DO NOT CALL. OWNERS HAS REGISTRED ON THE DO NOT CALL LIST. TY

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40 W Campfire Trail Munds Park, AZ 86017

$624,000

3 Beds

2 Baths

1,641 SqFt

Status Active

MLS # 6711493

Property Type Single Family Residence

Price Type --

Exterior was freshly painted 8/12/ 2024. Welcome to your rustic cabin in quiet & peaceful Munds Park w/no HOA. This MOVE_IN READY 3 bed 2 bath home is located on a private cul-de-sac nice sized lot. Enjoy the stunning views from your 12' x 24' spacious deck, open floor plan with a wood burning stacked stone fireplace, huge owners suite with a gorgeous shower and floor in the owners bath, very large Arizona room with skylight exits to good sized back yard and 8' x 10' storage shed, up to 6 parking spaces with good sun exposure for melting snow in front, sleeps up to 8 people for a short term rental or second home in the forest. Flagstaff is only appx 17 miles away. Very few homes for sale in the area. Most of the furniture is included in sale

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170 W Midway Street Payson, AZ 85541

$624,000

3 Beds

2 Baths

2,150 SqFt

Status Active

MLS # 6718786

Property Type Single Family Residence

Price Type --

A little over an acre with great panoramic views of the Rim. Wonderful house with plenty of storage space. Very cozy front room with vaulted ceilings and a great fireplace. Kitchen with walk-in pantry. Large rooms with plenty of storage. Spiral staircase off the front room leads to a loft space above.

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3135 W Molly Lane Phoenix, AZ 85083

$624,000

4 Beds

2.5 Baths

2,985 SqFt

Status Active

MLS # 6741058

Property Type Single Family Residence

Price Type --

Priced below others in the area for quick sale, this highly upgraded home has a play pool, heated spa, built in bar in the living room with a wine chiller and a liquor cabinet for entertaining, formal dining convenient to the kitchen, easy to maintain, like new real wood floors throughout, and granite kitchen and bathroom counters. The Large Master bedroom is upstairs with a huge walk-in closet a master bath with a separate shower, jetted tub and a bidet. A spacious loft which could be converted into a bedroom. An office, half bath, with upgraded vanities and all living areas are down stairs. all bedrooms are upstairs. Has two AC units for lower utilities. Window shades, BBQ Island with Fridge and Fire pit Come and see. You will love it.

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146 E Riviera Drive Tempe, AZ 85282

$624,000

3 Beds

2 Baths

2,638 SqFt

Status Active

MLS # 6748461

Property Type Single Family Residence

Price Type --

*Seller willing to offer concessions towards rate buy down or closing costs* Experience the refreshing vibes of Tempe in this gorgeous completely remodeled, move-in ready basement home! All new flooring and baseboards, new 5-ton HVAC, new roof, new white shaker kitchen cabinets with ample storage & under cab lighting, new quartz counters and backsplash, stainless gas range & hood, farmhouse sink w/touchless faucet, all updated lighting and fans throughout. Nest thermostat, all new interior/exterior paint, massive finished basement w/Galaxy Concrete coating. Bathrooms are remodeled w/modern tile, walk-in rain shower upstairs, new tub, new fixtures, new toilets and sinks! Step outside through the new French doors to an oversized backyard & sparkling blue pool w/ new variable speed pump. All new rock and turf too! Come experience this corner lot north/south facing next to the Tempe bike corridor and just 2 mi to the light rail. The neighborhood utilizes the Tempe Orbit shuttle that goes straight to ASU or the light rail! This home is walkable to nearby restaurants and breweries with immediate freeway access. Central location near water activities on Tempe Town Lake and Papago Mountain Bike Trails. This city intertwines laid-back vibes with an active lifestyle in a place where everyone is welcome and community is at the core!

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3476 E Longhorn Drive Gilbert, AZ 85297

$624,000

3 Beds

2 Baths

2,164 SqFt

Status Active Under Contract

MLS # 6674275

Property Type Single Family Residence

Price Type --

Welcome back to the market! $80K, nearly completely remodeled interior features brand new kitchen including cabinets, countertops, backsplash, sink, & LG ThinQ appliances. New bathrooms including vanities, toilets, tile, and showers. All new floors, doors, baseboards, and ceiling fans. Come see this stunning 3 bd plus den / 2 ba beauty with its open floor plan and turnkey appeal, ideally located in San Tan Ranch on a large, corner lot. Exterior features include pool w/ brand new 20-yr PebbleTec, newer backyard turf, low maintenance front yard (2023), covered patio, 2 car garage, RV gate & parking, plus owned & fully paid solar, whole house saltless water softener. HVAC (2021). exterior paint (2021), and complete roof underlayment (2023). So much to love about this new home - see you soon!

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417 N Olive -- Mesa, AZ 85203

$624,000

4 Beds

3 Baths

1,791 SqFt

Status Active

MLS # 6730937

Property Type Single Family Residence

Price Type --

Priced below recent appraisal. Your brand new West Coast Farmhouse inspired home is waiting for you. Designer built, Designer finishes. This 1791 Sf, 4 bedroom, 3 bathroom home has a thoughtful open floor plan, and each room is conveniently wired for internet. The fully insulated detached 2 car garage sits on a 10,000 sf xeriscaped lot ready for all your toys. Conveniently located close to Main Street, Hohokam Stadium, Sloan Park, plus easy access to the 202.

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3614 W Alyssa Lane Phoenix, AZ 85083

$624,000

4 Beds

3.5 Baths

2,744 SqFt

Status Active

MLS # 6737844

Property Type Single Family Residence

Price Type --

Become the proud owner of this gorgeous residence in Riordan Ranch! Fantastic curb appeal featuring great curb appeal, meticulously maintained landscape, and stunning mountain views. Discover an inviting living room with soaring ceilings, clerestory windows for ample natural light, and a blend of carpet and wood flooring. The great room has sliding doors leading to the backyard w/sparkling pool. The kitchen boasts granite counters, ample wood cabinetry with crown moulding, recessed lighting, SS appliances, a pantry, and a peninsula w/ a breakfast bar. Downstairs features a complete private Guest suite w/bedroom, den & bathroom perfect for in law, guests, nanny etc. Close to 1-17 & 303 & fabulous shopping, dining, movies, schools, medical,short hop to Prescott & Flag. The backyard oasis is highlighted by a covered patio, a pristine lawn, and a refreshing pool for cooling down on hot summer days. Make this gem yours!

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334 W Aspen Avenue Gilbert, AZ 85233

$624,000

3 Beds

3 Baths

2,817 SqFt

Status Active

MLS # 6762031

Property Type Single Family Residence

Price Type --

Embrace the full experience of the Southwest with this gorgeous custom home in Gilbert. Located on a convenient cul-de-sac, it is within walking distance of the trendy downtown Gilbert area. You'll love being in this non-HOA neighborhood. The Spanish Mediterranean style begins in the front yard with the adobe half walls, and the curved tile path leads to the charming blue door. The foyer is flooded with natural light from the skylight above, and the first view is out the tall glass windows to the pool beyond. Colorful Saltillo and blue tiles are throughout the entire home, with the exception of two carpeted bedrooms. Vaulted ceilings, tall windows and arches add loads of character to this house. A window seat is in the Great Room, and is flanked by built in lighted

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