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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11757 W Montana De Oro Drive Sun City, AZ 85373

New

$575,000

5 Beds

3 Baths

2,791 SqFt

Status Active

MLS # 6777966

Property Type Single Family Residence

Price Type --

Owned Solar! In the Dos Rios Neighborly Neighborhood! This spacious 5-bedroom, 3-bath home in Sun City is NOT in an age-restricted area, offering all the benefits of the thriving North Peoria community nearby. The main floor features a friendly layout with one bedroom and a full bath, plus a living room, family room, and dining area, while upstairs adds a versatile loft space. The low-maintenance turf yard and 3-car garage provides convenience and ample storage. Come check out some really amazing neighborhood Halloween Decorations! Don't miss this exceptional opportunity!

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1260 Haisley Road Prescott, AZ 86303

New

$575,000

3 Beds

2 Baths

1,739 SqFt

Status Active

MLS # 6778214

Property Type Single Family Residence

Price Type --

Nestled on an elevated homesite in the pines of Prescott's Haisley Homestead, this single-level home feels like your own private, luxurious treehouse. The open, split floor plan welcomes you into a bright and inviting living room, where vaulted ceilings and a gas fireplace with a marble surround and wood mantle create a warm, elegant focal point. The well-appointed kitchen features new granite countertops, lots of cabinets, and a 4-burner gas cooktop, along with a separate oven and microwave. Enjoy your meals in the breakfast nook, at the breakfast bar, or in the dining room, offering space for both formal & informal dining. The spacious master suite includes a large walk-in closet and a luxurious ensuite bath with a dual-sink vanity, walk-in shower, & soaking tub, perfect for unwinding. Two additional bedrooms, each with ceiling fans and ample closets, are flanked by a full bath, offering comfort and privacy for family or guests. Outdoor living is just as appealing, with a bright and airy front patio for enjoying the fresh mountain air, and a private, covered back patio for more intimate gatherings. Additional features include new carpet and wood flooring, a tile roof, a low-maintenance stucco exterior, concrete patios, and a 2-car garage. This home perfectly blends luxury, comfort, and the beauty of its natural surroundings.

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15735 W Autumn Sage Drive Surprise, AZ 85374

New

$575,000

3 Beds

2 Baths

2,282 SqFt

Status Active

MLS # 6778325

Property Type Single Family Residence

Price Type --

Exquisitely updated Hacienda/Stonecrest model starting from the minute you walk up to the cozy front courtyard, Stone veneer finishes & cool deck driveway & sidewalk. Entrance has custom security door & front door. Formal living room for entertainment & dining area, all open to the spacious great room with custom fireplace, media wall with stone veneer, special lighting & TV included. Huge kitchen with refinished cabinets, tiled backsplash, beautiful granite countertops, stainless appliances plus an ice making machine & a massive breakfast bar with stone finish & double pantry. Split floorplan offers great privacy. Primary suite includes large picture window, oversized walk in closet, bathroom upgrades include granite counters, double sinks, plumbing fixtures & framed mirrors, lighting, hardware, tiled shower & door, tiled soaking tub surround. 2 spacious guest rooms, 1 with built in Murphy bed & desk. The guest bath has a walk-in shower, updated vanity, granite counters, plumbing fixtures & sink, hardware, mirror & lighting. Nicely appointed laundry room with built in cabinets. Absolutely stunning back yard extended covered patio with cool decking, massive rock water feature, beautiful mature landscape, wrought iron fencing. Additional upgrades include: Baseboards, wood trim around window, 5 new Anderson windows in main areas, interior & exterior paint, custom blinds, recirculating hot water pump, security system, water softener, extended length garage with golf cart space & keyless entry system. Outside heater hardwired in & awnings.

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10456 W Los Gatos Drive Peoria, AZ 85383

New

$575,000

5 Beds

3 Baths

2,698 SqFt

Status Active

MLS # 6767739

Property Type Single Family Residence

Price Type --

Welcome to this beautiful two-story home in NW Peoria, AZ! This spacious residence features 6 bedrooms and 3 bathrooms, including a convenient bedroom and bath on the main floor, perfect for guests or multi-generational living. Located in a highly sought-after school district, it offers a bright and open floor plan, a modern kitchen with stainless steel appliances, and a beautifully landscaped backyard ideal for entertaining. Enjoy the benefits of a vibrant community with nearby parks, shopping, and excellent schools. Your dream home awaits!

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20961 N 96th Drive Peoria, AZ 85382

$575,000

3 Beds

2 Baths

2,157 SqFt

Status Active

MLS # 6698227

Property Type Single Family Residence

Price Type --

Welcome to this lovely home! Enter through the formal living room and dining room and immediately sense the warmth and charm of this inviting space. Before we proceed, allow us to introduce you to the heart of the house, the great room, where a cozy fireplace and ample natural light await. Passing by the den, with its versatile double doors for added privacy, you'll discover the spaciousness of the great room and the allure of the patio and backyard beyond. You will want to linger in this tranquil outdoor oasis. Venture into the large primary bedroom, a sanctuary of comfort boasting double doors, a walk-in closet, and an bathroom designed for relaxation and convenience. . With its private exit to the back patio, it offers a seamless blend of indoor-outdoor living. Explore further to find two additional bedrooms, each with carpeting and blinds, along with a conveniently situated hall bathroom between them. The kitchen, overlooking the great room, is not only functional but also a gathering place for culinary delights and shared moments. Let's not forget the backyard, featuring a concrete extension with a gazebo and a spa that conveys with the propertya perfect spot for unwinding and entertaining. For those with storage needs and hobbies, the 3-car garage provides ample space, complete with cabinets, a sink, and room for an extra refrigerator or freezer. Plus, it offers convenient access to the north side of the house. This home offers a blend of comfort, functionality, and outdoor allure that's sure to leave a lasting impression. We're delighted to share it with you today!

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1580 Calle Simpatico Drive Wickenburg, AZ 85390

$575,000

3 Beds

2 Baths

2,004 SqFt

Status Active

MLS # 6761470

Property Type Single Family Residence

Price Type --

This PRISTINE CUSTOM ''JEB'' home is located in the desirable PUEBLO CASSANDRA Village, where luxury meets comfort and security featuring a HEATED POOL and spa to enjoy year-round ARIZONA living. Step through the front door to be wowed by vaulted ceilings, open floorplan, plantation shutters, ambiance lighting, a gorgeous chandelier and a cozy gas fireplace. Not a detail left behind in the kitchen with stainless appliances, beveled edge GRANITE countertops, spacious island, and extensive Knotty-Alder soft touch CUSTOM cabinetry. Hide-a-way to the PRIMARY SUITE through PRIVATE DOUBLE ENTRY doors complete with a HUGE walk-in closet and separate exit to the expansive COVERED PATIO surrounded by a stucco finished wall. WOW! This EXQUISIT home with resort living is IN WICKENBURG!

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7635 W Rock Springs Drive Peoria, AZ 85383

$575,000

3 Beds

2.5 Baths

2,079 SqFt

Status Active

MLS # 6718396

Property Type Single Family Residence

Price Type --

This stunning single-level home is located in a highly desirable Rock Springs neighborhood, offering the perfect blend of comfort and luxury. The property features outstanding curb appeal with its beautifully landscaped front yard and an inviting entrance. As you step inside, you are greeted by an open room concept with an eat-in kitchen that boasts beautiful lighting, and in the kitchen you have granite countertops, an oversized sink, and a double wall oven with an electric cooktop. The kitchen also includes a spacious walk-in pantry and ample storage, making it a chef's dream. The oversized primary bedroom is a retreat in itself, complete with a large walk-in closet and an en-suite bathroom that offers dual sinks, a separate tub and shower, and private water closet. Two large guest bedrooms come with extra tall closets and ceiling fans, providing comfort and convenience. The living areas are designed for both relaxation and entertainment, featuring tile flooring throughout, with plush carpeting in the bedrooms. The home extends its living space to the outdoors with an extended back patio featuring two ceiling fans, perfect for enjoying the Arizona weather. The backyard is a serene oasis with artificial turf, natural vegetation, and a dog run on the side yard. Additional features include a 2-car garage and a functional laundry room. This property is a true gem, offering a perfect combination of indoor luxury and outdoor tranquility.

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3512 N Citrus Cove Mesa, AZ 85213

$575,000

5 Beds

3 Baths

2,294 SqFt

Status Active

MLS # 6776608

Property Type Single Family Residence

Price Type --

Stunning 5-bedroom, 3-bathroom home nestled in a serene, gated community! Fully updated and move-in ready, this home shines with fresh interior paint, brand new carpet, a new water softener, water heater, and AC system. The gorgeous kitchen is a showstopper with upgraded cabinets, sleek granite countertops, and a spacious island that flows effortlessly into the dining and great room—perfect for entertaining! A full bedroom and bathroom on the first floor provide the ideal setup for guests or multigenerational living. Upstairs, unwind in the luxurious master suite, complete with an en suite bathroom and a huge walk-in closet. The community offers beautiful walking paths, play areas, and is just minutes from the Red Mountain 202 Freeway and a quick 20-minute drive to Sky Harbor Airport!

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10015 E Mountain View Road Unit 1004 Scottsdale, AZ 85258

$575,000

2 Beds

2.5 Baths

1,792 SqFt

Status Active

MLS # 6749416

Property Type Townhouse

Price Type --

Welcome to a charming oasis in the heart of Scottsdale Ranch, where elegance meets comfort. This exceptional home offers a spacious living area perfect for relaxation and entertaining, highlighted by a cozy fireplace that invites warmth and charm. The gourmet kitchen is a chef's dream, featuring custom cabinetry, gleaming quartz countertops, and state-of-the-art stainless steel appliances. Unwind in the expansive Primary Suite, your personal retreat, complete with a spa-like bath designed for ultimate relaxation. Discover luxury living at its finest in one of Scottsdale's most sought-after neighborhoods!

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6202 E Mckellips Road Unit 42 Mesa, AZ 85215

$575,000

2 Beds

2 Baths

1,587 SqFt

Status Active

MLS # 6762857

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the gorgeous, gated community of Tuscany Villas! This beautiful detached home comes **FURNISHED** and offers a prime location right on the **golf course,** perfect for enjoying peaceful mornings or sunset views. Whether you're looking for a full-time residence, a personal vacation getaway, or a lock-and-leave option, this property delivers versatility and luxury. Inside, you'll find an open kitchen, granite countertops and high-quality furnishings throughout. Recent updates include a new HVAC system and water heater. Please see documents tab regarding items that do not convey as well as HOA information.

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6012 E Vernon Avenue Scottsdale, AZ 85257

$575,000

3 Beds

2 Baths

1,860 SqFt

Status Active

MLS # 6770543

Property Type Single Family Residence

Price Type --

Step outside to panoramic views of the Papago Mountains from your front courtyard and Camelback Mountain as the perfect backdrop from your private back patio. This 3-bedroom, 2-bath home offers privacy along a lush greenbelt and features a BRAND NEW ROOF with all new plywood decking ($44k), w/warranty, and the A/C unit has been replaced so you can chill out. Enjoy an oversized patio and yard, a wood-burning fireplace, and access to a hillside pool. Similar remodeled homes have sold for $800,000—this one is full of potential. Located minutes from Old Town, Tempe, ASU, SkySong, and the airport, it's a hidden gem in the heart of the city.

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8215 E Cypress Street Scottsdale, AZ 85257

$575,000

4 Beds

3 Baths

1,832 SqFt

Status Active Under Contract

MLS # 6773904

Property Type Single Family Residence

Price Type --

Attention investors: This is your next dream project! Located in a highly desirable Scottsdale neighborhood, this single family home has been temporarily transformed into a duplex-like property. A wall has been put up that turns this 4 bedroom, 3 bath, 2-kitchen home into two different living spaces- the front home has 3 bedrooms and 2 bathrooms, and the back home has a large primary bedroom and bathroom. Continue to treat this as an income producing property by renting out one or both sides, or take advantage of the larger square footage by converting this back into a single family home! This property has a solar lease that is completely paid-in-full, a 1-car garage up front, plus a detached 1 car garage or workshop in the back. So much potential in this South Scottsdale home!

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