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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

10545 E Topaz Circle Scottsdale, AZ 85258

Open House

$615,000

3 Beds

2 Baths

1,988 SqFt

Status Active

MLS # 6776326

Property Type Single Family Residence

Price Type --

This adorable patio home in the 55+ community of Heritage Village IV is at the end of a cul-de-sac with excellent lock and leave potential and is light, bright and open!! Vaulted ceilings welcome you into the split floor plan with a primary suite on one side of the home and two additional bedrooms and a full bath on the other side. Enjoy breakfast in the cozy nook right off the kitchen or on the huge private patio off the family room adjacent to the kitchen! The living space is all on one level with no stairs. The garage space has tons of storage cabinetry and plenty of room for two vehicles. The HOA provides for ALL landscaping, even the front courtyard and inside the gate of the back patio. The community of Heritage Village IV offers two swimming pools, two tennis courts, an

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20340 N Canyon Whisper Drive Surprise, AZ 85387

Open House

$615,000

3 Beds

2.5 Baths

1,950 SqFt

Status Active

MLS # 6769126

Property Type Single Family Residence

Price Type --

One of the most coveted models in The Grand. Borgata offers a split bedroom floorplan. In addition this home has a detached casita with a 256 sq. ft. guest quarters. As you enter the paver extended patio courtyard, you will instantly feel the privacy ready for your enjoyment. As you enter the front you will feel the openness of the expanded Arizona room complete with gas fireplace. Granite counters in the kitchen.

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20831 N 10th Street Phoenix, AZ 85024

Open House

$615,000

4 Beds

3 Baths

2,212 SqFt

Status Active

MLS # 6749459

Property Type Single Family Residence

Price Type --

Very recent closed sale in Arroyo Rojo similar sqft, no pool, or preserve view to the back sold for $649K. Nestled in a vibrant community this exceptional home boasts 4 bedrooms & 3 bathrooms, all while offering desert preserve views. The premium lot is an entertainer's dream, featuring a built-in fireplace, plumed for an outdoor kitchen, a pool with water feature, and ample space for hosting events. Inside, you'll be welcomed by an updated kitchen showcasing Quartz countertops, stainless steel appliances, and dark wood grain cabinets. The main floor also includes a full bathroom and a versatile office/den with French doors. Upstairs, you'll discover 3 beds/2 bath, PLUS a versatile closed loft area/flex space w/2 closets. Convenient upstairs laundry. Leasing is allowed. 30 Day Min.

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6614 E Portia Street Mesa, AZ 85215

Open House

$615,000

4 Beds

3 Baths

2,222 SqFt

Status Active

MLS # 6767410

Property Type Single Family Residence

Price Type --

Escape to Your Own Private Oasis in NE Mesa! This stunning 4-bedroom, 3-bathroom, 3-car garage home situated on a large lot offers the perfect blend of space, comfort, and outdoor living. Enjoy the privacy of a large, fenced-in front courtyard complete with a backyard oasis featuring a refreshing heated pool and spa with a large cover patio. No HOA: Enjoy the freedom and flexibility of owning a home without the restrictions of a homeowners' association.,room to park your toys / RV The well-maintained home features a spacious kitchen, perfect for entertaining. Key Features: Assumable FHA loan: (subject to lender approval) 4 bedrooms, 3 bathrooms, 3-car garage, Private front courtyard, Heated pool and spa, Large, well-maintained kitchen, and Great schools nearby

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21911 N 97th Glen Peoria, AZ 85383

Open House

$615,000

4 Beds

3 Baths

2,256 SqFt

Status Active

MLS # 6759518

Property Type Single Family Residence

Price Type --

Absolutely stunning home in the highly desirable community of Meadows. Energy efficient home with owned solar panels. Exceptional curb appeal. Situated on a premium, corner lot. You will be in awe when you walk through the front door. Elegant open concept awaits you as you enter the gathering room which features a luxurious kitchen with 42's Espresso Maple Cabinets, large kitchen island, stainless steel appliances, and granite countertops. The spacious primary bedroom features an en-suite with dual vanities, separate tub and shower and large walk-in closet. Enjoy countless Arizona sunsets under your extended rear covered patio. Low maintenance backyard features extended travertine pavers. Plenty of storage with built in cabinets in the 3 car tandem garage.

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14132 W Bent Tree Circle Litchfield Park, AZ 85340

$614,999

2 Beds

2 Baths

1,800 SqFt

Status Active

MLS # 6747586

Property Type Single Family Residence

Price Type --

Welcome to Luxury Living in an Exclusive Gated Community. Come view your fully remodeled dream home in our prestigious gated community, featuring a gorgeous 2-bedroom, 2 -bath residence with a den. This beautifully designed home features modern updates such as Spanish Porcelain flooring, Porcelain countertops, and even walk-in Marble showers with seated areas in both showers! As you step inside, you'll feel the love that was put into this home as it carries a cozy, warm feeling while still upholding a very modern and elegant interior. This home is ideal for both casual dining and entertaining guests with its custom built in dining table & butler's kitchen. This is not all this property features as you'll be able to enjoy your jacuzzi that is amazing for hosting or just giving yourself some personal relaxing time! Living in this gated community ensures privacy and security. The security cameras that are conveying with the home will also give you that reassurance needed as you're able to view your outside premises with one touch of a button! Don't miss out on this amazing opportunity to make this house, your home!

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944 S Grand -- Mesa, AZ 85210

$614,999

5 Beds

3.5 Baths

2,711 SqFt

Status Active

MLS # 6766857

Property Type Single Family Residence

Price Type --

This stunning custom-built Mesa home will impress from the moment you enter. With 5-bedrooms with 2 full baths and 2 half baths, this home offers an exceptional living experience. The spacious interior boasts soaring ceilings, a gourmet chef's kitchen, and abundant natural light throughout. The primary suite, conveniently located on the main floor, features an en-suite bathroom with a jacuzzi tub. Upstairs, you'll find four additional guest bedrooms, one of which includes a private powder room and a large balcony that overlooks the beautifully landscaped backyard. Outside you'll discover your own private oasis, complete with a sparkling pool w/ a grotto. The oversized Ramada with a fully-equipped outdoor kitchen sets the stage for unforgettable memories. No HOA, with an RV gate! unforgettable gatherings. With an RV gate and no HOA, this property offers both convenience and freedom.

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9311 W Coolidge Street Phoenix, AZ 85037

$614,999

6 Beds

5.5 Baths

3,949 SqFt

Status Active

MLS # 6729757

Property Type Single Family Residence

Price Type --

$6,000 Monthly Lease Income Included! This stunning 6-bedroom home not only offers exceptional living but also comes with a $6,000 per month lease—providing immediate cash flow! If you're looking to make it your primary residence, the tenant is willing to relocate, giving you complete flexibility. Location, Location, Location! Perfectly situated just off the 101 & Camelback, this home puts you at the heart of it all—minutes from Westgate, Glendale Stadium, and the soon-to-be-built waterpark and hotels in this rapidly growing area. Key Features:

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20218 W Hollyhock Street Buckeye, AZ 85396

$614,995

4 Beds

3 Baths

2,630 SqFt

Status Active

MLS # 6698296

Property Type Single Family Residence

Price Type --

Ease and Elegant design blend beautifully in this ranch-style Pomona plan at our Estates at Arroyo Seco in Buckeye. An inviting great room is at the heart of the open layout, adjacent to a dining nook and a gourmet kitchen showcasing 42'' white shaker cabinets with brushed nickel pulls, quartz countertops, full tile backsplash, GE Plus stainless-steel appliances w/pyramid hood and 36'' gas cooktop, center island with an undermount stainless-steel sink. The impressive primary suite offers a walk-in closet and a private bath that includes dual vanities and a tiled deluxe walk-in shower with rain shower. Three additional bedrooms and two additional bathrooms, a central study and a laundry round out the floor plan, which includes a multi-slide door leading out to a covered patio, a 2-car garage, a 1-car side turn garage, paver driveway and walkway and front yard landscaping. This home also includes 10' ceilings, Two-Tone paint package, Pendant lighting at the kitchen island, 9 x 35 tile flooring throughout with carpet only in the bedrooms, ceiling fan pre-wires at all bedrooms, study, great room and patio, exterior coach lights, pre-plumb sink at the laundry room, garage service door at 2-car garage, gas stub at the patio and soft water loop pre-plumbed in the garage. Located on an 8760 square foot corner lot.

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4828 W Stargazer Place Laveen, AZ 85339

$614,995

3 Beds

2.5 Baths

2,390 SqFt

Status Active

MLS # 6686946

Property Type Single Family Residence

Price Type --

The Deacon plan includes an attached RV garage, plus two car tandem garage! Inside, a well-appointed Gourmet kitchen with a walk-in pantry, Quartz counters Shaker cabinets and stainless-steel appliances is flanked by a great room and a dining room with covered patio access and center meet door. You'll also appreciate an elegant primary suite with a private bathroom featuring Deluxe walk-in shower and ample walk-in closet space. A mudroom, a convenient laundry and a flex room will complete the plan. Select homes will include deluxe options in the primary bathroom and gourmet features in the kitchen.

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4738 W Stargazer Place Laveen, AZ 85339

$614,995

3 Beds

2.5 Baths

2,390 SqFt

Status Active

MLS # 6693066

Property Type Single Family Residence

Price Type --

The Deacon plan includes an attached RV garage, plus two tandem garage bays! Inside, a well-appointed gourmet kitchen with a walk-in pantry is flanked by a great room and a dining room with covered patio access. You'll also appreciate an elegant primary suite with a private bathroom, deluxe bathroom with separate shower and garden tub as well as ample walk-in closet space. A mudroom, a convenient laundry and a flex room will complete the plan.

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10429 S 47th Lane Laveen, AZ 85339

$614,995

4 Beds

2.5 Baths

2,390 SqFt

Status Active

MLS # 6700668

Property Type Single Family Residence

Price Type --

The Deacon plan includes an attached RV garage, plus two tandem garage bays! Inside, a well-appointed gourmet kitchen with a walk-in pantry is flanked by a great room and a dining room with covered patio access with center meet back doors. You'll also appreciate an elegant primary suite with a private bathroom deluxe walk in shower and ample walk-in closet space. A mudroom, a convenient laundry and a fourth bedroom will complete the plan.

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