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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13484 N 103rd Street Scottsdale, AZ 85260

$595,000

3 Beds

2 Baths

1,614 SqFt

Status Active

MLS # 6774781

Property Type Single Family Residence

Price Type --

Welcome to this inviting 3-bedroom, 2-bath home, featuring everything you need for relaxation and comfort. The cozy fireplace creates a warm, welcoming atmosphere inside, while the backyard is a true oasis. Enjoy the sparkling pool and spa, perfect for unwinding or entertaining, with a spacious covered patio providing shade for year-round outdoor living. Whether you are hosting gatherings or enjoying quiet evenings at home, this property offers the ideal blend of indoor comfort and outdoor enjoyment. Ready for you to move in and start making memories!

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4696 W Buckskin Drive Eloy, AZ 85131

$595,000

2 Beds

2.5 Baths

2,322 SqFt

Status Active

MLS # 6768956

Property Type Single Family Residence

Price Type --

Popular Miramonte home with many extras, including a 4 ft. extended two-car garage with a mini-split, epoxy flooring, a third garage with a mini split and epoxy flooring. Whole house water filtration & tankless water heater. This spacious two bedroom, Den and 2.5 baths has an open floor plan is perfect for entertaining or just relaxing. The kitchen has lots of cabinet space, quartz countertop, stainless steel appliances and a large walk-in pantry. The backyard is a must see. Beautiful outdoor living space, with an extended large patio with pavers & electric blinds. Partially fenced for privacy. No pets have lived in this home and no one has smoked in this home.

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2226 N Shannon Way Mesa, AZ 85215

$595,000

2 Beds

2 Baths

1,586 SqFt

Status Active

MLS # 6772985

Property Type Single Family Residence

Price Type --

LOCATED ON THE 4TH TEE BOX OF APACHE WELLS GOLF COURSE. THIS EXCELLENTLY MAINTAINED 2 BEDROOM 2 BATHROOM HOME IS READY TO MOVE RIGHT INTO. NEWER KITCHEN CABINETS AND BACKSPLASH. NEW QUARTZ COUNTERTOPS. NEW FLOORING IN LIVING ROOM. PATIO HAS BEEN EXTENDED AND AN ELECTRIC AWNING INSTALLED IF IN NEED OF SHADE. BEAUTIFUL ARIZONA SUNSETS FROM BACK PATIO. THIS WILL NOT LAST LONG. SHOW AND SELL!

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9914 E Donegal Court Sun Lakes, AZ 85248

New

$595,000

3 Beds

2 Baths

2,000 SqFt

Status Active

MLS # 6776486

Property Type Single Family Residence

Price Type --

Beautiful Remodeled Alameda model! This is not a flip. It was remodeled with higher end fixtures and finishes, designer details and intended to be the primary residence. You'll find many custom features in the home including a butler pantry/laundry room, custom cabinets and microwave drawer in island, propane fireplace, an oversized slider to the stucco, updated patio, and a modern foyer to welcome you home. The garage has a new A/C unit & built in cabinets. The primary closet was done by Cabinets by Design, and the bath has a free standing soaking tub with designer tile wall. All new flooring, paint inside and out, new exterior hardscape as well as vegetation and pool equipment enclosure. There is a complete list under document tab.

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5831 W Pine Cove Prescott, AZ 86305

$595,000

3 Beds

2 Baths

2,057 SqFt

Status Active

MLS # 6772452

Property Type Single Family Residence

Price Type --

Welcome to this 3-bedroom, 2-bath home tucked away on a serene, pine-covered .93 acre lot in Highland Pines. Offering 2,057 sq. ft. of living space, this mountain retreat features a great room with soaring ceilings, rustic wood accents, and a cozy wood-burning stove. The dining room's wall of windows provides breathtaking views of the surrounding pines. Step outside onto the deck to take in the panoramic scenery. Additional amenities include a one-car garage, asphalt driveway, brick paver paths, and a fenced dog run. This home is truly a peaceful getaway in the Pines with modern comforts!

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16426 S 180th Drive Goodyear, AZ 85338

New

$595,000

2 Beds

2 Baths

1,779 SqFt

Status Active

MLS # 6777616

Property Type Single Family Residence

Price Type --

Welcome to this energy-efficient residence located on a desirable corner lot in the sought-after 55+ Cantamia Community! Enter to find a harmonious open floor plan featuring wood-look tile flooring & neutral palette that complements any décor. Well-appointed kitchen boasts abundant cabinets topped w/crown moulding, tile backsplash, butler's service area, recessed & pendant lighting, a prep island w/a breakfast bar, granite counters, & high-end SS appliances such as cooktop gas & a wall oven. The main bedroom is a serene retreat, offering plush carpet, plantation shutters, an ensuite w/dual sinks, & a walk-in closet. Flexible den provides additional space, perfect for an office or library. Discover the expansive backyard, complete w/an extended covered patio & a refreshing pool. LAKE VIEW! *$$$SOLAR SAVINGS$$$* / GATED community / DEN-FLEX ROOM can be easily converted into 3rd BDRM. NEAT Bucher Block counter in Butler area- AC Minisplit in the Garage.

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41652 N Hudson Court Anthem, AZ 85086

$595,000

4 Beds

3 Baths

2,120 SqFt

Status Active Under Contract

MLS # 6756781

Property Type Single Family Residence

Price Type --

Discover this beautiful Anthem Parkside residence, perfectly situated at the end of a spacious private cul-de-sac with an expansive yard. Embrace the refreshing blue pool and bask in the abundant Arizona sunshine in your backyard oasis, complete with partial mountain views. NEW A/C! This meticulously maintained home features a warm neutral color palette, large diagonal tile throughout the main living areas, and cozy carpet in the bedrooms for added comfort. The eat-in kitchen, open to the family room, boasts elegant granite countertops, maple cabinets, a pantry, and a center island with a convenient breakfast bar—perfect for family gatherings and entertaining. Retreat to the spacious primary suite, which includes a large walk-in closet and an adjoining spa-like bath featuring a... garden tub, double vanity, and separate shower. This home also offers an additional bedroom and a den, thoughtfully separated to accommodate multi-generational living. Garage is air conditioned. With a low HOA, you'll enjoy fabulous community amenities including a 16-acre catch-and-release lake, thrilling waterslides, a gym, pickleball and tennis courts, soccer fields, basketball and baseball facilities, as well as scenic hiking, walking, and biking trails. Don't miss out on this incredible opportunity to live in a vibrant community that offers so much more!

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1392 E Sierra Madre Avenue Gilbert, AZ 85296

$595,000

4 Beds

2.5 Baths

2,039 SqFt

Status Active

MLS # 6773240

Property Type Single Family Residence

Price Type --

Welcome to this stunning, updated two-story home situated on a prime corner lot directly across from a large community park. Enjoy easy access to a playground, volleyball courts, ramada, and open green spaces—perfect for outdoor activities and relaxing afternoons. This home offers north/south exposure, filling the interior with natural light throughout the day. All bedrooms are located upstairs, providing extra privacy from the main living areas. The kitchen has been fully updated with modern appliances and a reverse osmosis system, making it as functional as it is stylish. The backyard is a true oasis, featuring a large pebble tec pool, ideal for cooling off during hot Arizona summers or hosting weekend gatherings.

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3609 E Ludlow Drive Phoenix, AZ 85032

$595,000

3 Beds

2 Baths

1,530 SqFt

Status Active

MLS # 6773988

Property Type Single Family Residence

Price Type --

*Location* Location* Right off the 51 freeway and Thunderbird Rd., this home will not disappoint! Fully remodeled down to the drywall finish this home has endless new features such as low maintenance landscape with new synthetic grass, new flooring throughout, full bathroom remodel, complete kitchen remodel, low energy LED lighting throughout, double pane windows, and new appliances!! Don't hesitate, don't delay, seller is ready to sell!

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21199 E Domingo Road Queen Creek, AZ 85142

$595,000

4 Beds

3 Baths

2,241 SqFt

Status Active

MLS # 6775346

Property Type Single Family Residence

Price Type --

Welcome to your beautiful home in Nauvoo Station! This stunning 4-bedroom, 3-bathroom home offers a light, bright and open concept layout, perfect for modern living. The spacious great room flows seamlessly into the bright and open kitchen, complete with stainless steal appliances and plenty of storage. The primary suite is a true retreat, featuring a large shower, expansive walk-in closet, and ample space to unwind. A versatile bonus room can be used as a home office, kids playroom or teen hangout space, allowing flexibility to meet your family's needs. Step outside to the entertainer's backyard, where you'll find a sparkling pool, turf, low-maintenance hardscape, a cozy fire pit area, and a built-in gas grill - perfect for gathering with family and friends. Don't miss out on this home!

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40937 N Majesty Way Anthem, AZ 85086

$595,000

4 Beds

2.5 Baths

2,469 SqFt

Status Active Under Contract

MLS # 6750370

Property Type Single Family Residence

Price Type --

*VA ASSUMABLE LOAN AT 3%. LEASED SOLAR PAID OFF.* Location is everything! This home is settled in a quiet neighborhood with a trail entrance right next door connecting you to 13 miles of lush desert trails, 2 parks within a 5-minute trail walk, and the K-8 elementary school is just blocks away. Not to mention the one-of-a-kind comraderie and sense of community this neighborhood offers. This spacious ''Tradition'' floor plan is coveted for it's vaulted ceilings throughout the living space, and fluid layout perfect for hosting and family-time. The large kitchen island, pantry, and wall of cabinets creates the ultimate culinary experience. Conveniently located on the main floor, the extra large primary suite has private backyard access and a large walk in closet. Maintaining privacy, the 3 additional bedrooms and full bathroom are located upstairs. With the 3-car garage, overhead garage storage, multiple walk in closets, custom built-in bookcases, storage under the stairs, and an RV-gate, this property provides all the storage a family could need! This property is on a premium lot where you can enjoy the beautifully designed and low-maintenance backyard with synthetic grass, pavers, a large extended covered patio, and a view fence showing off stunning desert scenery and colorful sunsets!

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4513 Jackpot Road Wickenburg, AZ 85390

New

$595,000

2 Beds

2 Baths

1,818 SqFt

Status Active

MLS # 6777905

Property Type Single Family Residence

Price Type --

Professional Photos coming soon. Discover 4513 Jackpot Rd, a gem in the Trilogy at Wickenburg Ranch! 55+ and Living Resort. Part of the rare and discontinued Maverick Collection, this 2021-built, single-level home offers 1,818 sq ft of modern living with 2 master bedrooms, each with a full bath, plus a guest half bath. The open floor plan includes a versatile den, a stylish kitchen with GE appliances, and a large island with a double basin sink. Enjoy breathtaking views of the Weaver Mountains from the backyard, featuring a built-in BBQ, firepit, and stone patio with a cover. Complete with a 2-car garage, this home is listed at a great price! Don't miss out! Home will be sold unfurnished.

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