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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1014 S 2nd Street Phoenix, AZ 85004

$599,000

4 Beds

3 Baths

1,897 SqFt

Status Active

MLS # 6759017

Property Type Single Family Residence

Price Type --

This property features two separate homes, each with its own private ingress and egress, making it ideal for rental income or living in one and renting out the other. Both homes are enclosed with block wall privacy. The front home offers 2 bedrooms and 2 bath. While cozy, it has been updated with tile flooring, a fully tiled tub surround, and an all-tile shower in the second bath. Dual-pane windows throughout improve energy efficiency. The rear house is newer, with 2 bedrooms, 1 bath and 1,008 sqft of living space. Together, the two homes provide almost 2,000 sqft of total living area. Conveniently located very close to Chase Field, Footprint Center, major freeways and all of what downtown Phoenix has to offer!

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3267 Huckleberry Way Wickenburg, AZ 85390

$599,000

2 Beds

2 Baths

1,700 SqFt

Status Active

MLS # 6759265

Property Type Single Family Residence

Price Type --

Magnificent view of 13th Green on the Championship Course! Step thru the front door into this highly upgraded Beacon Floor Plan. From tile throughout the home to the stunning kitchen granite counters this home has everything. SS appliances, large center island, pull out shelving for the soft close cabinet doors, elegant pendant lights for entertaining guests. Primary w/same granite counters, dual sinks & Walk-in closet. Great room with multi-sliding glass door leads you out to the amazing extended patio and views. This floor plan comes with a separate Den and Guest Suite w/Hall Bathroom. Stop by today to make this once in a lifetime your next home!

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1524 E Dublin Street Gilbert, AZ 85295

$599,000

4 Beds

3.5 Baths

2,410 SqFt

Status Active

MLS # 6768551

Property Type Single Family Residence

Price Type --

This gorgeous 4-bedroom, 3.5-bath home in the heart of Gilbert is truly a gem! From the moment you walk in, you'll be captivated by the elegance and thoughtful upgrades throughout. The executive kitchen is a chef's dream, complete with high-end appliances, sleek countertops, and plenty of cabinet space for all your culinary needs. The spacious primary suite has been extended and upgraded, featuring two generous walk-in closets and a luxurious soaking tub, perfect for unwinding after a long day. A private casita offers a perfect retreat for guests, in-laws, or a home office. Enjoy indoor-outdoor living with the expansive extended patio slider doors, allowing for seamless flow to the backyard, ideal for entertaining. Enjoy the beautiful sparkling community pool and local parks. Come view!

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4734 E Verbena Drive Phoenix, AZ 85044

$599,000

4 Beds

2 Baths

1,890 SqFt

Status Active

MLS # 6761591

Property Type Single Family Residence

Price Type --

Beautiful home in Ahwatukee Foothills Community. Amazing 4 bed single level home 3 car garage, pool/spa. With a granite kitchen island, extensive custom cabinets with pull-outs, an eating nook with a big picture window. Kitchen overlooks the family room & beautiful travertine tiles & freshly painted throughout. Enjoy private pool with spa in this great entertainers backyard. Mature trees and lovely landscape to this yard giving a feeling of the outside peacefulness. Home also has a soft water loop. It's conveniently located near I-10 for access to anywhere but also within the bounds of Ahwatukee and all it has to offer. It's also just a few miles from Pecos Park, which has pools, water slides, 16 pickleball courts, basketball, soccer, volleyball, walking paths and more!

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4046 E Agave Road Phoenix, AZ 85044

$599,000

5 Beds

3 Baths

2,302 SqFt

Status Active

MLS # 6761563

Property Type Single Family Residence

Price Type --

Luxury remodel in a premier location!!! Stunning 5 bed/3 bath with soaring 18ft ceilings and gorgeous new flooring throughout. Highlights: *In-laws suite downstairs, plus 2nd bedroom. Full bath downstairs. *Massive 5ft x 1ft porcelain tiles from Italy mimic white oak wood on first floor. *Elegant engineered hardwood stairs lead to plush new carpeting upstairs. *Gourmet kitchen with quartzite counters, marble backsplash, and stainless appliances. *Jaw-dropping primary bath with 9ft x 3.5ftx10ft H tiled shower; nicknamed The Car Wash Shower. * 4 mitered quartzite counters in all 3 full bathrooms. Laundry conveniently located upstairs. *Fresh interior/exterior paint provides move-in ready luxury. *Coveted neighborhood near I10, 202, 60, downtown Phoenix, ASU, top public and charter schools like Basis. *Amenities galore at Mountain Park HOA- 3 Olympic size pools, jacuzzi, pickleball, tennis and sand volleyball courts, walk and bike paths, hiking. Great shopping nearby- Phoenix Premium Outlets, RH Outlet, Marshalls, Costco, AZ Mills Mall, Sprouts, Frys, Home Depot, Lowes. Call today!

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11021 W Buchanan Street Avondale, AZ 85323

$599,000

5 Beds

2.5 Baths

2,830 SqFt

Status Active

MLS # 6764601

Property Type Single Family Residence

Price Type --

An AMAZING OPPORTUNITY for a spacious NEW HOME in a FAMILY FRIENDLY COMMUNITY near the heart of New Downtown The BLVD in Avondale. Seller will consider up to a 3% allowance towards buyer's closing costs/rate buy down with a full price offer. Expansive community green belt on one side gives the feel of a corner lot with extra privacy. Luxurious upgraded kitchen with GE Profile appliances and quartz countertops. Huge master bedroom with a private retreat space, beautiful custom built-in closet and large shower. 2 bedrooms with a Jack-and-Jill bathroom. 2 flex rooms that can turn into extra bedrooms, guest spaces, playrooms, or home offices. Additional Interior Features: Ceramic tile flooring, Hunter ceiling fans with remotes and custom motorized blinds throughout the home. Future school planned next to the community for families. Additional Interior Features: Ceramic tile flooring, Hunter ceiling fans with remotes and custom motorized blinds throughout the home. Additional Exterior Features: Insulated 3-car garage, Tankless Hot Water Heater, Pre-Plumbed utility sink and Soft Water loop.

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4780 Starlight Drive Happy Jack, AZ 86024

$599,000

3 Beds

2 Baths

1,401 SqFt

Status Active

MLS # 6769681

Property Type Single Family Residence

Price Type --

Welcome to your cozy getaway, where modern comforts meet rustic charm in a captivating single-family haven. Nestled amidst beautiful trees on a desirable lot with graveled circular drive, this home offers the perfect escape without compromising conveniences. Step inside this cozy sanctuary and be greeted by the warmth of tongue and groove ceilings and walls, coupled with the open, airy feel of vaulted ceilings, creating an inviting atmosphere throughout. This creatively designed home includes 2 bedrooms and a bath downstairs, as well as a loft/bedroom upstairs with a bathroom and balcony, ideal for both entertaining guests and relaxing after a long day.The open-concept living area is a true centerpiece, featuring a stunning fireplace that anchors the room and offers a perfect escape without compromising conveniences. Step inside this cozy sanctuary and be greeted by the warmth of tongue and groove ceilings and walls, coupled with the open, airy feel of vaulted ceilings, creating an inviting atmosphere throughout. This creatively designed home includes 2 bedrooms and a bath downstairs, as well as a loft/bedroom upstairs with a bathroom and balcony, ideal for both entertaining guests and relaxing after a long day.The open-concept living area is a true centerpiece, featuring a stunning fireplace that anchors the room and offers a perfect sitting area to watch the beautiful flames with a glass of wine, perfect for cozy evenings in. Transition effortlessly from indoor to outdoor living with the expansive deck, surrounded by great trees that provide a serene and picturesque backdrop. Enjoy outside dining, morning coffees, or simply unwind while taking in the beauty of your natural surroundings .The kitchen is accented with modern conveniences, including recessed lighting that enhances the chic and functional design ideal for crafting culinary delights as you entertain. a built-in wine cooler, reach in pantry and a breakfast bar. Storage and organizational needs are effortlessly met with a detached garage, providing ample space for vehicles and hobbies alike.This gem at Starlight Drive promises more than just a home; it's a lifestyle of tranquility with the convenience of modern living. Don't miss your opportunity to own this unique property that blends comfort, style, and nature creating the perfect setting for cherished memories. This home is great for a weekend getaway or full time living. Escape the heat and come watch the wildlife from your deck, jump in your side by side or go for a hike.

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19733 N 79th Avenue Glendale, AZ 85308

$599,000

4 Beds

2 Baths

2,272 SqFt

Status Active

MLS # 6769879

Property Type Single Family Residence

Price Type --

Charming single-story home with a spacious, open-concept layout and high ceilings, offering an abundance of natural light and elegant tile flooring throughout. Original owners have lovingly maintained the property ideal for hosting gatherings, this home boasts an extended, covered patio and a serene garden-like backyard. The generous primary suite features a separate tub and shower, a private water closet, and a large walk-in closet. A well-designed split floor plan includes 3 additional bedrooms and a full bathroom. The exterior was freshly painted this year, enhancing its curb appeal. The three-car garage is equipped with insulated door and ample storage cabinets. Conveniently located near golf courses, lakes, parks, and easy access to freeways, shopping, and medical facilities.

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1849 E Northview Avenue Phoenix, AZ 85020

$599,000

2 Beds

2 Baths

1,752 SqFt

Status Active

MLS # 6770374

Property Type Single Family Residence

Price Type --

Location! Location! Location! Act fast before its gone. Beautiful home in Skyline Heights. This home is in the High Demand Pointe area. Brand New Roof just replaced with underlayment and brand-new tiles. New electrical panel box, New Garage door opener, New Security System, and New Dishwasher! Front and Backyard Brand New pet friendly artificial turf installed for low maintenance. Open and bright floorplan with fireplace and Atrium. Across the street from the park with mountain views and minutes from the Biltmore with restaurants, shopping and entertainment.

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114 W Smoketree Street Apache Junction, AZ 85120

$599,000

4 Beds

3 Baths

2,000 SqFt

Status Active

MLS # 6773540

Property Type Manufactured Home

Price Type --

**MOUNTAIN VIEW**HIGHLY UPGRADED HOME on a 1.25 LOT**Additionally, a 1.25 acre lot next door, MLS # 6773504, is also available** Step inside to a meticulously maintained home showcasing 9' ceilings, crown molding & gorgeous LVP floors. The mountian views from the spacious great room are breathtaking! The gourmet kitchen is equipped with generous counter space, recessed & pendant lighting, a tile backsplash, RAISED PANEL 42'' cabinets with uppers, spacious walk-in pantry, range hood, & stainless appliances. Your feet will love the comfort of the PLUSHLY CARPTETED owners' suite. Luxurious bath has WALK-IN SHOWER with seat, dual sinks, raised dual vanity & walk-in closet. There are 3 more bedrooms, 2 with en-suite baths. The generous laundry has a second refrigerator & ample storage.... ...You'll the private patio for dining & relaxing evenings. A front circular drive provides easy parking and there is room for RVs, boats & lots of toys! Location, views & a beautiful, highly appointed home - you can have it ALL!

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18627 N 43rd Place Phoenix, AZ 85050

$599,000

3 Beds

2.5 Baths

1,963 SqFt

Status Active

MLS # 6776064

Property Type Single Family Residence

Price Type --

Must see this spacious yet charming updated home featuring heated spa/pool and solar (owned not leased) on a cul de sac lot. This desirably situated North Phoenix Home has so many updates including Kitchen w/Stainless Steel Appliances including Refrigerator, Countertops, Breakfast Bar, Sink, Faucet, Remodeled Baths w/Tiled Shower Surrounds, Oil Rubbed Bronze Fixtures, Designer Mirrors, Countertops, Sink Bowls, Faucets, Hardware, Light Fixtures, Fireplace, Ceiling Fans w/Lights, Washer & Dryer Included. The beautifully updated backyard recently had $35k spent on the pool/heated spa & cool decking and is perfect for entertaining. You'll love the mountain view from the backyard and master bedroom. Close to everything - High Street, Desert Ridge, Kierland, Scottsdale Quarter, PV Golf, Reach 11 park, CREST. EZ freeway access to 51 & 101. Don't miss it before its gone.

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160 N Forgeus Avenue Tucson, AZ 85716

$599,000

3 Beds

2 Baths

1,840 SqFt

Status Active

MLS # 6781329

Property Type Single Family Residence

Price Type --

Prestigious Sam Hughes Neighborhood in a limited 9 lot home community on Forgues Ave. This 2 story, 3bedroom, 2 bath home is located in the heart of Sam Hughe walking distance to Sam Hughes Elementary and even the old Rincon Market now as Floras Market Run. All Garages are in the back of the homes allowing great curb appeal. This home has only been owed by one family. Large living room with built in entertainment area. The down stairs has a step down to living room area from entry. Step down to hallway to bathroom and 2 bedrooms. Stairway upstairs for split master bedroom private with master bath. Roman jacuzzi bath tub, pedestal sinks, separate shower. Large walk-in... closet. Vaulted ceilings, separate laundry room, 2 car garage entry from laundry area. Kitchen with eat in area and built in ovens. Back yard enclosed with jacuzzi and grass area. Investor property. Needs remodeling. Power of attorney is selling home and limited info. Home is being cleaned out and pictures coming soon. Selling home As Is. Nov 30th viewing available BY APPOINTMENT ONLY between 10am-2pm. Proof of funds required prior to viewing. Email to co-listing agent. See private remarks regarding access, notices. DO NOT DISTURB elderly resident! All offers are being reviewed in 30 days. No EXCEPTIONS. Offers accepted with 2 additional back ups.

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