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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10438 S 45th Place Phoenix, AZ 85044

$585,000

4 Beds

2 Baths

1,507 SqFt

Status Active

MLS # 6766982

Property Type Single Family Residence

Price Type --

Welcome home! This amazing property features 4 bedrooms 2 baths and has been completely remodeled. Brand new kitchen including cabinets, counter tops, and appliances. All the bathrooms have been tastefully updated, stained concrete flooring throughout, and fresh exterior paint. Brand new high quality windows and sliders for efficiency including owned solar which will ensure low monthly utilities costs. Garage is equipped with a 220 volt outlet for your electric charging station. Located near the beautiful South Mountain preserve perfect for hiking and mountain bike riding, restaurants and shopping near by only 20 mins to the airport for your convenience. Ahwatukee's hidden gem awaits. Don't' hesitate to see this one today!

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$585,000

2 Beds

2 Baths

1,850 SqFt

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Welcome To Gold Canyon's BEST Views % A STUNNING Remodeled Single Level Townhome In Premier Gated Fairway Views! Golf & Mountain Vistas In The Rear Greet You From The MOMENT You Enter The Front! GORGEOUS Travertine Flooring T/O, Including Front & Back Exterior, Vaulted Ceiling, Fireplace, Great Room Design, Granite Slabs in Kitchen & Corian Slabs In Baths, Skylights, Stainless Steel Apps, Custom Closet, Expanded Laundry/Pantry & More! NEW Roof in 2018, NEW H2O Heater in 2023 and NEW Softener in 2024! Patio Includes More Beautiful Travertine, Sparkling Fountain, Built In Bar & BBQ And The VIEWS That Go On Forever Showcasing #11 Green Of Gold Canyon Sidewinder Course, Dinosaur Mountain & Superstition Mountain! Home Offered Turnkey Furnished & 1 Year Home Warranty Provided To Buyer!

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2425 W Red Range Way Phoenix, AZ 85085

$585,000

3 Beds

2 Baths

2,131 SqFt

Status Active

MLS # 6777834

Property Type Single Family Residence

Price Type --

Welcome to Carefree Crossing...your serene desert retreat in North Phoenix, where convenience meets tranquility. Perfectly situated near Norterra shopping and dining, freeway access, hiking trails for outdoor enthusiasts, and just 4 miles from TSMC. Step into this well maintained home with an airy, open-concept layout and 10' ceilings. Top that off with a split primary suite with patio access. The third bedroom offers flexibility as a home office or additional guest space. And a bonus room, which is just that, a bonus with a multitude of uses! With coveted N/S exposure, a private pool and spa and a covered patio, this home is designed for year-round enjoyment of Arizona's beautiful weather. Freshly painted inside and out and move-in ready, make Carefree Crossing your new home today!

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25623 S Sossaman Road Queen Creek, AZ 85142

$585,000

3 Beds

2 Baths

1,904 SqFt

Status Active

MLS # 6772086

Property Type Manufactured Home

Price Type --

Here it is! Your desert dream! Whether you want farm life or an oasis, this has it all! 3 bed, private den/office, 2 bath, open kitchen and formal dining area. Stainless steel appliances, new blinds, new fans, light fixtures, brand new flooring throughout, exterior/interior paint. Completely remodeled master bath with a large closet, custom walk in shower, LED mirror with several light options and defogging options, fan connects to bluetooth to play music! Fireplace remodeled and custom barn door installed in living room to provide storage. BRAND NEW ROOF! All work done 2022/2023. Fabulous fenced in sparkling pool, 2 custom stalls for any animal built behind pool. Custom walk across bridge built to back land featuring another stall with entire property fenced in.

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2355 N Cabot -- Mesa, AZ 85207

$585,000

3 Beds

2 Baths

1,738 SqFt

Status Active

MLS # 6780778

Property Type Single Family Residence

Price Type --

Desert mountain views await you in this desirable gated community in NE Mesa. Great schools, easy access to freeways, shopping, hiking, biking, and water sports. This 3br plus office/den is detailed with beautiful Travertine stone flooring in all but 3 bedrooms with new carpet. Brand new quartz countertops, sinks and faucets in kitchen and both bathrooms along with refinished cabinets. New window blinds throughout. Six inch crown molding top and bottom in all rooms. Features living/dining room plus family room open to kitchen. Enjoy this corner lot with a lovely heated pool and spa with easy maintainable landscape. Garage with custom floor to ceiling cabinets, work bench and epoxy flooring.

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8445 E Aloe Vera Circle Gold Canyon, AZ 85118

$585,000

2 Beds

2 Baths

2,340 SqFt

Status Active

MLS # 6779682

Property Type Single Family Residence

Price Type --

Welcome To This STUNNING & Completely REMODELED&REDONE GEM Filled w/High End Finishes & Gorgeous Surprises Around Every Corner!Entry Charms w/Porcelain Plank Floors, Designer Accent Paint&Vaulted Ceilings Which Beckon Through 2 Immaculate Kitchen Feat. Granite Slab Counters, Chocolate Glaze Cabs w/Brown PinStripes, Quartz Sinks,Cstm Travertine BackSplash, Cstm Lighting&Beamed Ceiling, Highly Upgr.Stainless App Package (F/W/D ALL Incl)&Brushed Nickel Hardware!Updated Baths Feat. Granite, Quartz, Brass&Mother Of Pearl Hardware, Cstm Fixtures&More! Mstr Suite Feat. Ext. Att.Sitting Room, Beautiful Barn Door Wall 2 Patio, Cstm Shower&Tub w/Water Proof ShipLap Wall! Ext.Patio Incl. Cstm Wrought Iron Gate,No Homes Directly Behind&Artificial Turf Sideyard!New Paint 2024!INCREDIBLE Front MTN VWS!

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13518 W Sola Drive Sun City West, AZ 85375

$585,000

2 Beds

2 Baths

2,095 SqFt

Status Active

MLS # 6782063

Property Type Single Family Residence

Price Type --

The Encanto is a favored floor plan in Corte Bella Country Club. Uniquely designed for that entertainer's lifestyle. This home has so many upscale extras that you will enjoy. Features include designer front door, updated lighting, soft welcoming paint, smooth surface tiled flooring, 10' ceilings, great room, shutters, recessed lighting, 8 ft. Island in kitchen & 2 bedrooms plus Den. Split floorplan. Primary bathroom has a remodeled walk-in shower, oversized walk-in closet & two sinks. Great room includes cozy fireplace & open view into kitchen. The kitchen has high-end cabinets, granite counters, induction cooktop, breakfast bar & casual dining. Extended length garage. Exterior features include fenced bk yard w/covered patio, front covered patio & centrally located w/in Corte Bella.

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337 N Redrock Street Gilbert, AZ 85234

$585,000

5 Beds

3 Baths

2,494 SqFt

Status Active

MLS # 6782724

Property Type Single Family Residence

Price Type --

Move in Before the Holidays! Welcome to this fantastic tri-level home with versatile living spaces, ideal for multi-generational needs. With 5 bedrooms and 3 bathrooms, there's room for everyone. Enjoy the front patio by the fire pit, a perfect spot to unwind. Step inside to freshly painted walls, newer carpet, a welcoming eat-in kitchen with a breakfast bar, and new appliances. Newer water heater and an AC unit that's only a few years old. The lower level features a bedroom, office or yoga studio. A full bathroom, and a huge flex space, ideal as a mother-in-law or teen suite, playroom, or second family room. Enjoy the backyard with a sparkling diving pool and spa. Outdoor enthusiast will appreciate the Western Canal path offering a multi-use trail, perfect for biking, jogging& dog walks Prime Location: Minutes from Downtown Gilbert and an array of fantastic shopping and dining options. Ample Parking: Includes a two-car garage and a widened driveway with extra space for 3 cars.

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5595 W Mercer Lane Glendale, AZ 85304

$585,000

5 Beds

3 Baths

3,348 SqFt

Status Active

MLS # 6784014

Property Type Single Family Residence

Price Type --

Welcome to your dream home! Nestled in a tranquil cul-de-sac with no HOA, this property has everything you need and more. Step inside and be greeted by an open-concept entertaining floor plan with vaulted ceilings and new LED can lighting that illuminates every corner with warmth and style. The fully remodeled kitchen is a chef's delight, featuring brand-new cabinetry, modern appliances, and a convenient pot filler that makes cooking a breeze. New laminate flooring flows seamlessly throughout the home, offering both beauty and durability. Cozy up by the fireplace in the spacious living room, or enjoy the peaceful view of the mature trees from the large windows with elegant plantation shutters. You'll find ample storage space throughout, perfect for keeping things organized and tidy. Outside, the good-sized yard is a blank canvas just waiting for your creative touch. Imagine the possibilitiesa garden, play area, or custom outdoor oasis. With a lemon tree ready to provide fresh fruit, you'll love the potential this space offers for entertaining and relaxation. This beautifully updated home is move-in ready and waiting for you to make it your own. Don't miss outon this home!

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6351 W Saddlehorn Road Phoenix, AZ 85083

$585,000

4 Beds

2.5 Baths

2,542 SqFt

Status Active

MLS # 6783990

Property Type Single Family Residence

Price Type --

Exceptionally clean and lovingly maintained poolside home with 4 BR and 2.5 BA. HVAC 2020. Granite counters in kitchen and baths, travertine backsplash and FP accents. Freshly painted inside and out with new Lighting and Fans, New Carpet. Stay and play in your own backyard resort play pool (pool fence available) and mostly private. Look at the size of the bedrooms! 28x15 master has sitting room and lux bath with soaking tub and sep shower. Easy access to shopping, great restaurants, hiking and commute by way of 303, 101 and 17.

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1711 Leisure World -- Mesa, AZ 85206

$585,000

3 Beds

2 Baths

2,011 SqFt

Status Active Under Contract

MLS # 6775404

Property Type Single Family Residence

Price Type --

AMAZING, Sparkling POOL and Resort Style Backyard, perfect for Entertaining. Enjoy this Beautiful FULLY REMODELED 3 Bedroom, 2 Bath, 2 Car Garage Home! The Delightful Pavered Entry and Patio are a welcome greeting! Enter into an Open and Spacious Great Room with vaulted ceilings and Fantastic Feature Wall with Fireplace. Your Dream Kitchen w/large island, quartz countertops, induction stove, under the counter microwave & much more! The Airconditioned Arizona Room is perfect for an office, game room or craft room with views to the pool! Newer Windows, New Front Door and Sliding Glass Doors, New Paint Interior and Exterior. All this in the Premiere Active Adult Community of Leisure World with 36 holes of private golf, tennis, pickle ball, swimming pools, fitness center & much more!

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1018 E Acoma Drive Phoenix, AZ 85022

$585,000

3 Beds

3 Baths

2,218 SqFt

Status Active Under Contract

MLS # 6781431

Property Type Single Family Residence

Price Type --

Fall in love with this two-story home in Phoenix that effortlessly combines comfort and style! Inside, you'll find an inviting living room, an open den/office, and a formal dining room complete with a cozy fireplace. The kitchen displays plenty of cabinetry, built-in appliances, fluorescent lighting, and a breakfast bar. Sizable primary boasting plush carpet, direct outdoor access, a walk-in closet, and a private ensuite comprised of dual sinks and a make-up desk. As a bonus, this house includes a 2nd main bedroom with balcony access and a bathroom. Enjoy mountain views from the balcony. Spacious backyard showcases a covered patio, storage shed, and a sparkling pool for year-round enjoyment. New A/C and garage door installed this year! Don't miss this one-time opportunity

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