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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7177 W Pontiac Drive Glendale, AZ 85308

$622,000

4 Beds

3 Baths

2,146 SqFt

Status Active

MLS # 6742966

Property Type Single Family Residence

Price Type --

MOTIVATED SELLER! ***PRICE REDUCED!! *** Welcome to your Beautiful Home in the HIGHLY desirable Lake Community of Sierra Verde in Arrowhead Ranch! OVER $100k in UPGRADES! This MOVE IN READY, NEWLY REMODELED 4-bed, 3-bath beauty offers a perfect blend of luxury and comfort. Features Include New Wood Tile Flooring, New 6-inch Baseboards, Newly Upgraded Bathrooms with Travertine Tile Floors, Showers w/Granite Counters & Custom Finishes. New Pool Equipment, Pebble Sheen Finish & Removable Pool Fence. Gourmet Kitchen with Granite Counters, Tile Backsplash, Stainless Steel Appliances, and a Convenient Coffee Bar. Freshly Painted in Neutral Tones Inside and Out! Ring Doorbell! Newer Hot Water Heater! The second floor boasts Engineered Wood Flooring & Designer Built Walk-in Closets Large yard with grass area and no homes directly behind for open feel and privacy! The epoxy-coated garage includes built-in cabinets, a workbench, and a new smart garage door opener. Refrigerator, washer, and dryer are included for your convenience. The community offers ample walking and biking paths, parks, and gorgeous lake views, while A+ Sierra Verde School is just a short walk away. Enjoy easy access to Thunderbird Conservation Park, Arrowhead Mall, P-83 shopping, dining, entertainment, and freeways for effortless commuting. With so many upgrades and a prime location, this home is an absolute must-see! Don't miss your chance to make it yours!

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6798 W Andrea Drive Peoria, AZ 85383

Open House

$621,990

3 Beds

2.5 Baths

2,051 SqFt

Status Active

MLS # 6722958

Property Type Single Family Residence

Price Type --

Turnkey READY NOW-North/South Exposure. Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'El Dorado' floorplan features 3 full bedrooms, 2.5 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes White Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 9' ceilings, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. *Photos of similar spec to show layout, options will vary*

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19016 W Rose Lane Waddell, AZ 85355

$621,915

6 Beds

3.5 Baths

3,159 SqFt

Status Active

MLS # 6770159

Property Type Single Family Residence

Price Type --

Amazing 2 story floorplan, Downstairs owners suite plus guest suite. Professionally decorated gourmet kitchen, quartz center island with stainless appliances, Wood plank tile in common areas, Quartz countertops, tiled backsplash, staggered Harbor cabinets, oversized great room and eat in kitchen, oversized laundry room. Massive loft upstairs, Jack & Jill bath. Enjoy the peaceful sunsets on your covered patio and mountain views. Plenty of room for everyone and extra space in the 3 car tandem garage. This home will be completed in December/January

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10130 S Bickwell Trail Apache Junction, AZ 85120

$621,848

5 Beds

4 Baths

3,099 SqFt

Status Active

MLS # 6768168

Property Type Single Family Residence

Price Type --

Discover the exceptional difference in your home-buying experience! Welcome to Laurel at Blossom Rock, where our 2-story Ponderosa design w/ LIVE in SUITE is under construction now. Imagine an open-concept floor plan featuring a warm and welcoming kitchen that flows into a bright, airy great room. This space opens up to your private, extended covered outdoor room - perfect for relaxing or entertaining. With 5 spacious bedrooms, 3 luxurious baths, a great room with a dining area, and a flexible office space, this home has everything! Plus, we're including $81,000 in stunning upgrades to make this home truly special, and we're offering special financing to help NOW.

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1781 E Vico Bella Luna -- Oro Valley, AZ 85737

$620,900

3 Beds

3 Baths

1,993 SqFt

Status Active

MLS # 6706136

Property Type Townhouse

Price Type --

Owner/Agent. This beautiful 2 story home is nestled at the base of the Catalina Mountains in the Exclusive Gated Community of La Reserve Villas. Featuring an Open floorplan w soaring ceilings, generous size Owner suite w separate vanities, walking closet/s, storage & more. 2 Guest Rooms w breathtaking views of the Mountains. Laundry Room w sink and abundant cabinetry. Contemporary Kitchen w Quartz countertops, SS Appl, Bkfast bar and RO system. Powder Room, recessed lighting, covered patio, Water Softener Sys, Rustic garage door/ epoxy floors, Tyvek Stucco and more. This luxury community borders Coronado Natl Forest & Catalina State Park. In close proximity to world-renowned resorts, golf courses shopping & restaurants, as well as Tucson's 'famous' Loop'': a 130-mile walking/biking path.

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6168 S Fairway Place Gold Canyon, AZ 85118

$620,000

2 Beds

2 Baths

2,364 SqFt

Status Active

MLS # 6748933

Property Type Townhouse

Price Type --

This beautiful home in the prestigious Fairway Views gated community features 2 master bedroom suites, one upstairs and one downstairs. Both have walk in closets, showers and upstairs features a large soaking tub! Open concept great room with 22-foot ceilings, a den and a loft. There is a large balcony in front with panoramic mountain views of the Superstitions and a balcony in back overlooking the pool! The private pool has a heater for winter and there is a magnificent octagonal covered patio with mechanical sunshades and ceiling fans to enjoy year-round entertaining. Two new HVAC units installed in 2022 and pool pump and dishwasher replaced recently. There is a community pool, walking path and clubhouse and is next door to Gold Canyon Golf Resort! HOA includes water, garbage and exterior paint! Custom cabinets and doors throughout the home. The original owner was the builder for the subdivision so there are many upgrades and extras! Furniture can be purchased on a separate bill of sale.

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5348 S 98th Place Mesa, AZ 85212

$620,000

3 Beds

3 Baths

2,188 SqFt

Status Active

MLS # 6762241

Property Type Single Family Residence

Price Type --

Beautiful home located in the highly sought after neighborhood of Cadence. This 3 bedroom, 3 bath, plus a den features a split, open floor plan! Walking up to the home you will notice the beautiful stone elevation and front porch area. This space is large enough for a bench or quaint table to welcome guests. Once you enter inside, you are welcomed into the grand hallway. To your left you will see one of the secondary bedrooms and a bathroom. As you continue down the hall, you come to the den space. This space is perfect for an office, workout room, or even a play area for kids. Across from the den, you will find the other secondary bedroom, complete with a full ensuite bathroom. Adjacent to the room is the laundry space complete with extra shelving for storage. At the end of the hall, you come to the combination kitchen/dining and living room. The gourmet style kitchen features custom lighting, beautiful white tiled backsplash, ample cabinet and counter space, a grand center island, matching stainless steel appliances, gas range, and expansive walk-in pantry. The dining space offers plenty of room for a large dining table, making this space perfect for hosting. This space also offers two sliding glass doors; one leading to the backyard and the other to an outdoor courtyard space. This combination living/dining space contains several windows, bringing in plenty of natural lighting. At the back of the home, you will discover the primary bedroom and bath. This space is complete with dual vanities, a large walk-in shower, extra counter and storage space and a considerably sized walk-in closet. The backyard space is finished with a covered patio offering plenty of desired shade. A uniquely perfect feature of this home is the quaint courtyard patio just off the side of the home. The backyard space wraps around to this courtyard, utilizing this large lot perfectly!

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2774 Airpark Drive Overgaard, AZ 85933

$620,000

3 Beds

2.5 Baths

1,664 SqFt

Status Active

MLS # 6751278

Property Type Single Family Residence

Price Type --

Pilots and aviation enthusiasts, a beautiful 3BR/2.5 BA Mogollon Airpark home. A 5 min walk to aircraft tie downs, lodge, BBQ, ramadas, pickleball, tennis, & basketball courts! Well cared for immaculate move in ready home, with most furniture included! Spectacular knotty pine vaulted ceilings, soaring stone gas fireplace, open concept living room with an impressive wall of windows. Massive wrap around deck with plenty of room for outdoor entertaining or relaxing. Large screened-in all season room adds more living space. Enjoy the heavily treed, private 0.83 acre partially fenced lot and the wild life that abound. Attached 2 car garage. We are an active social, EAA Chapter 1044 and aviation community, come join the fun!

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20121 N 76th Street Unit 2022 Scottsdale, AZ 85255

$620,000

2 Beds

2 Baths

1,854 SqFt

Status Active

MLS # 6751819

Property Type Apartment

Price Type --

Discover this gorgeous 2-bedroom, 2-bathroom condo with a convertible den in the gated Vintage at Grayhawk community. Meticulously maintained, this home offers a perfect blend of modern elegance and comfort. The open-concept floor plan includes a spacious kitchen with stainless steel appliances, a cozy living area, and a private balcony with breathtaking views. Enjoy access to a heated community pool, gym, shopping, and dining. Recent upgrades enhance its appeal: hot water heater (2022), garbage disposal (2022), AC unit (2023), interior paint (2022), new flooring (2023), granite countertops (2023), and ROE tank (2024). This is a rare opportunity to experience Scottsdale's vibrant lifestyle in an exceptional home.

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15324 W Campbell Avenue Goodyear, AZ 85395

$620,000

5 Beds

3 Baths

3,558 SqFt

Status Active

MLS # 6759588

Property Type Single Family Residence

Price Type --

The long wait is over! Nestled on a generous corner lot in Palm Valley, this exquisite energy-efficient residence offers unmatched comfort and style. The stone-accented facade, 3-car garage, and RV gate set a grand tone. Step inside to be greeted by a spacious bonus room, tile and wood floors, recessed lighting, pre-wired surround sound, and an expansive great room. The formal dining area is perfect for gatherings, while the large den can serve as an office or gym. The chic kitchen boasts stainless steel appliances, wall ovens, a walk-in pantry, wood cabinets, mosaic tile backsplash, granite counters, and a breakfast bar. The sizable main suite includes space for a sitting area, direct backyard access, and a luxurious bath with dual vanities, a jetted tub, and a walk-in closet... Outside, the vast backyard offers a covered patio and ample room for a pool or custom landscaping. Don't miss your chance to see this stunning property firsthand!

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14133 S 179th Avenue Goodyear, AZ 85338

$620,000

3 Beds

2.5 Baths

2,920 SqFt

Status Active

MLS # 6765673

Property Type Single Family Residence

Price Type --

Welcome to Your Dream Lifestyle in This Stunning 2020 Energy-Efficient William Ryan Home! Step into this beautifully appointed, Energy Star-certified home and prepare to live your best life. Designed with energy efficiency in mind, the foam insulation will keep those high summer electric bills at bay while keeping you comfortable all year round. The spacious, open-concept floorplan is perfect for both everyday living and hosting lively gatherings. Imagine entertaining family and friends in the heart of the home—the kitchen! You'll fall in love with its elegant maple cabinets, sleek contemporary backsplash, large island, and luxurious quartz countertops. For the chef in you, there's a gas cooktop and wall convection oven/microwave to make meal prep a breeze. Natural light floods the home through the numerous windows, and with tile flooring in all high-traffic areas, the space feels airy, bright, and easy to maintain. When it's time to unwind, retreat to the expansive primary suite. This tranquil haven offers a spa-like experience with its fully tiled shower, dual vanities, and an oversized walk-in closet that conveniently connects to the laundry room for easy access. And speaking of laundryprepare to be wowed! The laundry room has been expanded into a massive hobby room or potential workout space, complete with additional cabinets and a utility sink, offering flexibility for your lifestyle. Storage is abundant throughout this home! With three linen closets (two of which are walk-ins), a coat closet, and walk-in pantry, you'll never run out of space. All bedrooms also feature their own walk-in closets, providing plenty of room for everyone. But wait, there's more! The backyard is an entertainer's dream. A spacious covered patio offers ample shade, perfect for enjoying Arizona's famous winter months. Nicely landscaped with a paved seating area and walkways that wrap around the entire home, you'll have plenty of space to relax, dine, and soak up the outdoors. And though there's no pool in the backyard, don't fret! You'll enjoy access to not one but two incredible residents' clubsStarpointe & Presidio. These resort-style clubs offer a full range of amenities, including restaurants, pools, fitness centers, and endless recreation opportunities. For the outdoor adventurer, Fins hiking and biking trails are just minutes away, and for those who love to unwind, Sip at the Ranch, a trendy local wine bar, is nearby. Essential conveniences such as grocery stores, Walgreens, Starbucks, and more are only seven minutes from your front door, making daily life easy and stress-free. This home isn't just a place to liveit's a lifestyle waiting to be embraced!

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16116 W Alameda Road Surprise, AZ 85387

$620,000

3 Beds

3 Baths

2,159 SqFt

Status Active

MLS # 6768724

Property Type Single Family Residence

Price Type --

Exceptional Home in Escalante features 3 Bedrooms, 3 Baths, 2 Bonus Rooms, Gourmet Kitchen with Play POOL nestled against an Open Area. This Nearly New Home boasts Artistic Custom Wall Features, Soft Eyebrow Arches, Gentle Color Palette, Wood Plank Vinyl Flooring, Full Wall Double Glass Sliding Doors, Upgraded Fans and Lighting, Travertine Decking and Artificial Turf. A Generous Entry leads to the Open Concept Living area complete with a multi use Bonus Room with Quartz Ledges. Gourmet Kitchen boasts 5 Burner Gas Cooktop, Stainless Steel Appliances, Wall Ovens, Tile Backsplash, Large Walk In Pantry, Island, Quartz Counters, Granite Sink, RO system, Pale Grey Cabinetry and under Cabinet Lighting. Primary Ensuite includes a Spa Shower, Double Sinks and Walk In Closet. See Features List.

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