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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4330 Copperhead Drive Wickenburg, AZ 85390

$598,000

2 Beds

2 Baths

1,873 SqFt

Status Active

MLS # 6769355

Property Type Single Family Residence

Price Type --

Discover a home that balances comfort and character in the coveted Lone Star neighborhood. This exceptional residence welcomes you with a warm, rich color palette, setting a relaxed and inviting mood throughout. Large rooms flow seamlessly across the tile flooring, while plantation shutters add a touch of elegance. The kitchen is a highlight, featuring a gas cooktop that makes cooking a pleasure. And with an owned wired alarm system, peace of mind is built right in! Out back, the space is designed for year-round enjoyment. Gather around the gas fire feature on cooler evenings, fire up the built-in BBQ, or relax under the shade of the pergola while taking in the desert air. It's an outdoor space made for quiet moments and lively get-togethers alike, with thoughtful details that invite... you to unwind. The extended-length 3-car garage isn't just practicalit's a well-organized space with attached shelving, providing room for vehicles, gear, and projects. It's the kind of garage that offers flexibility, whether you need extra storage or room for hobbies. This home at Wickenburg Ranch is all about easy living, with spaces that invite you to make them your own. It's a place where the details matter, offering a lifestyle that feels as good as it looks, ready to become your next favorite spot.

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17863 E Paria Canyon Drive Rio Verde, AZ 85263

New

$598,000

2 Beds

2 Baths

1,543 SqFt

Status Active

MLS # 6778318

Property Type Single Family Residence

Price Type --

Move in ready home located at Trilogy! Be welcome by the delightful curb appeal showcasing a paver driveway, enclosed front patio, & a 2-car garage w/a 4ft extension for golf cars & service door. Inside, discover the stunning high ceilings, tile flooring, & soothing palette. The great room features bountiful natural light, an inviting brick fireplace, & backyard access. The eat-in kitchen provides hardwood cabinets w/crown moldings, SS appliances, granite counters, a walk-in pantry, & a center island w/breakfast bar. The main bedroom boasts soft plush carpet & an ensuite with w/dual sinks, sit-down shower, & a walk-in closet. Enjoy the relaxing covered patio in the sizable backyard & host fun gatherings... Take advantage of all the wonderful sights and amenities that this community offers, like the Sports courts, recreational room, Community pool, walking distance to dog parks and lakes & so much more! Don't miss it!

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33839 W Grove Street Tonopah, AZ 85354

$598,000

6 Beds

3 Baths

2,823 SqFt

Status Active

MLS # 6771313

Property Type Single Family Residence

Price Type --

BUYER DID NOT PERFORMED. Come and see this beautiful new construction home in Tonopah. Style all around from the outside architecture to the modern interior. 6 bedrooms, 3 baths and a 3 car garage equipped with 240V light its perfect for a big or growing family. The open concept floor plan its perfect for entertaining. Tall 10' ceilings and large picture windows to let the natural light flow in and at night the recessed lighting will keep the home well illuminated. In the kitchen crisp white cabinets are complemented by the beautiful quartz countertops. the ample waterfall island ties the space together. Cozy master bedroom with a spacious master bath with separate shower and tub, his and hers sinks and a private toilet room. There are five other bedrooms that provide plenty room for family and guest. Front and back yard are an empty canvas to create the space of your dreams.

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1425 W Kenrick Drive Wickenburg, AZ 85390

$598,000

3 Beds

2.5 Baths

3,190 SqFt

Status Active

MLS # 6651710

Property Type Single Family Residence

Price Type --

Welcome to a move-in ready home that offers the perfect canvas for your personal touch. Situated in a prime location with stunning views, this property boasts a spacious backyard, setting the stage for a comfortable and personalized living experience. As you explore the home, you'll discover a cozy and inviting layout, featuring multiple rooms that are primed for your creative ideas. Each room is a comfortable space, eagerly awaiting your unique flair. Whether you're interested in adding modern touches, highlighting the home's charming details, or a combination of both, the possibilities are limitless. The private and fully fenced backyard is an ideal setting for a variety of activities. It's a gardener's dream, or a tranquil retreat for those who appreciate peaceful relaxation.

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1178 E Sabino Drive Chandler, AZ 85286

$598,000

3 Beds

3.5 Baths

2,239 SqFt

Status Active

MLS # 6687681

Property Type Single Family Residence

Price Type --

Low interest rate assumable loan to a veteran!. Just steps from the beautiful community pool and Tumbleweed Park and Rec Center. Bright, airy and open is the best description for this home. An island , breakfast bar and large pantry highlight the entertainer's kitchen with Stainless Steel Appliances. A sizable walk in closet, large private bath and dual sinks show off the primary bedroom. Located very close to shopping, schools and the freeway access.

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6487 Tall Pine Drive Pinetop, AZ 85935

$598,000

3 Beds

3 Baths

1,456 SqFt

Status Active

MLS # 6724701

Property Type Single Family Residence

Price Type --

THRIVING Current Airbnb! Nestled in the serene woods of the Pinetop Lakes Golf and Country Club, this charming cabin offers the perfect blend of rustic elegance and modern comfort. Whether you are looking for a Family Cabin, Full Time Living, or Airbnb Investments this Home is Fully furnished and ready for you to move in—just bring your toothbrush! This delightful home features 3 spacious bedroom split floorplan and 3 full bathrooms, providing ample space for family and friends. The inviting open-concept living area boasts cozy furnishings and a warm fireplace, ideal for relaxing after a day of outdoor adventures. The well-equipped kitchen includes all the essentials, ensuring you have everything you need to prepare delicious meals. Each bedroom is tastefully decorated and designed for comfort, offering a peaceful retreat at the end of the day. Step outside to enjoy the breathtaking natural surroundings from the deck perfect for morning coffee or evening gatherings. Located in the desirable Pinetop Country Club area, this cabin offers access to a range of recreational activities and amenities. Don't miss the opportunity to own this beautiful cabinyour dream mountain getaway awaits!

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6027 N 10th Street Phoenix, AZ 85014

$598,000

3 Beds

2 Baths

1,570 SqFt

Status Active

MLS # 6748121

Property Type Single Family Residence

Price Type --

This newly remodeled gem has been re-designed to create a modern floor-plan featuring Luxury Vinyl Flooring, a new kitchen with lovely cabinetry, quartz countertops, and stainless-steel appliances. The bathrooms are fully updated with new vanities, lighting, and tile. The front living room boasts a cozy wood-burning fireplace and the entire home, inside & out, has been freshly painted. Enjoy enhanced comfort with new LED lighting and ceiling fans throughout. The landscaped yard includes mature shade trees, flowering bushes, and private courtyard with hassle-free watering system plus a large side yard perfect for your furry friend. Located in the coveted Madison School District within walking distance to the ''A'' Rated Rose Lane Elementary and Madison Traditional Academy.

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321 W Palo Verde Street Gilbert, AZ 85233

$598,000

4 Beds

3 Baths

2,090 SqFt

Status Active

MLS # 6759949

Property Type Single Family Residence

Price Type --

**Distinctive character and unique SW design on preferred N/S lot ideally situated close to downtown Gilbert!!**Beautifully updated 4 bedrooms with private bath off guest room + additional bonus/media room.**Practical stained concrete flooring throughout, freshly painted with newer light fixtures and ceiling fans and gas fireplace.**Well-planned kitchen with Brazilian Quartzite countertops, custom cabinetry, huge island/breakfast bar & double French patio doors.**Additional amenities include RV gate w/concrete pad, sliding barn door in master suite, stackable washer & dryer, reverse osmosis, soft water and refrigerator!!**Private backyard with no rear neighbors, extended covered patio, shed and lush, mature landscaping.**

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3100 W Frankfurt Drive Chandler, AZ 85226

$598,000

5 Beds

3 Baths

2,372 SqFt

Status Active

MLS # 6744740

Property Type Single Family Residence

Price Type --

BELOW MARKET VALUE & APPRAISAL!! Pristine location in one of the best cities to live in! Your family will love this 5-bedroom 3 bath home with a gorgeous deck off the Primary bedroom. With NO NEIGHBORS BEHIND, you will truly enjoy the serenity here. ALL NEW ENERGY EFFICIENT WINDOWS, NEW WATER HEATER and the HVAC & AIR HANDLER is 3 YEARS NEW!! Lots of natural light to enjoy the chef's kitchen with granite counters and SS appliances and so much storage. 3 bedrooms Upstairs with beautiful wood floors. Downstairs has 2 bedrooms and a living room with a fireplace, so many spaces to enjoy. Step outside and entertain or relax in your private, tranquil backyard under the stars or have drinks and conversations in the gazebo & ramada. Close to all things in Chandler!!

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2644 Leisure World -- Mesa, AZ 85206

Open House

$598,000

3 Beds

1.5 Baths

1,843 SqFt

Status Active

MLS # 6775796

Property Type Single Family Residence

Price Type --

Great home in cul-de-sac, 3 car garage with large storage room off of garage. This home is unique, large lot, fenced backyard and lots of privacy, it is a Barcelona Floorplan that has been opened up to a great room with a beautiful kitchen. Primary bedroom has a large room built on that can either be an office, craft room, TV room, converted to a walk in closet or many other choices. Primary bath has been increased to add a jacuzzi soaker tub, separate shower and large vanity. Laundry has been moved to primary bathroom. Tile floors throughout. All this in the Premiere Active Adult Community of Leisure World with 36 holes of private golf, new tennis complex, pickle ball, swimming pools, library, state of the art fitness center, theater, arts and crafts, billiard room, and much more!

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12744 N 146th Lane Surprise, AZ 85379

Open House

New

$598,000

4 Beds

3.5 Baths

2,470 SqFt

Status Active

MLS # 6777807

Property Type Single Family Residence

Price Type --

Pride of ownership is shown in this beautiful 4-bedroom home that has been tastefully renewed! Meticulously designed interior features carpet & wood-look tile flooring, fresh neutral palette, and an inviting living room. Wide sliding glass doors in the HUGE great room connect you to the back patio, improving your indoor-outdoor living experience. Upscale kitchen comes complete w/recessed & pendant lighting, granite counters, a prep island w/a breakfast bar, ample white cabinetry topped w/crown moulding, stainless steel appliances, a walk-in pantry, and subway tile backsplash. Surely to impress w/the primary retreat, boasting a trendy barn door to the ensuite comprised of two vanities, a large enclosed glass shower, and a walk-in closet. This gem includes a 2nd main bedroom w/a bathroom! You'll definitely love the wonderful backyard w/a covered patio and sparkling pool. Don't miss!

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889 W Saddle Run Apache Junction, AZ 85120

$597,990

4 Beds

3 Baths

2,375 SqFt

Status Active

MLS # 6776097

Property Type Single Family Residence

Price Type --

Welcome to Blossom Rock! The east valley's newest master planned community. With views of the Superstition Mountains and a wealth of amenities currently in the making including three community parks, dozens of neighborhood parks, a community school, miles of trails, beautiful lakes, and indoor and outdoor gathering spaces all meant to serve as the backdrop of the calendar of signature events and annual celebrations currently being created.

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